Smith Asset Management Group LP Buys Shares of 134,260 Idexx Laboratories Inc. (IDXX)
Smith Asset Management Group LP purchased a new stake in shares of Idexx Laboratories Inc. (NASDAQ:IDXX) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 134,260 shares of the company’s stock, valued at approximately $12,467,000.
A number of other institutional investors have also added to or reduced their stakes in IDXX. Fundsmith LLP boosted its position in Idexx Laboratories by 69.0% in the first quarter. Fundsmith LLP now owns 4,210,679 shares of the company’s stock valued at $329,780,000 after buying an additional 1,719,511 shares during the last quarter. Norges Bank acquired a new position in Idexx Laboratories during the fourth quarter valued at about $59,478,000. Renaissance Technologies LLC boosted its position in Idexx Laboratories by 242.6% in the first quarter. Renaissance Technologies LLC now owns 437,504 shares of the company’s stock valued at $34,265,000 after buying an additional 309,804 shares during the last quarter. Old Mutual Global Investors UK Ltd. boosted its position in Idexx Laboratories by 270.4% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 270,088 shares of the company’s stock valued at $25,080,000 after buying an additional 197,177 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Idexx Laboratories by 43.2% in the first quarter. Goldman Sachs Group Inc. now owns 391,756 shares of the company’s stock valued at $30,683,000 after buying an additional 118,115 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.
Shares of Idexx Laboratories Inc. (NASDAQ:IDXX) traded up 0.21% during midday trading on Wednesday, hitting $112.07. The stock had a trading volume of 508,590 shares. The company has a market cap of $10.03 billion, a P/E ratio of 50.80 and a beta of 0.56. Idexx Laboratories Inc. has a one year low of $63.48 and a one year high of $115.06. The firm has a 50 day moving average of $110.94 and a 200-day moving average of $92.35.
Idexx Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.62 by $0.12. Idexx Laboratories had a net margin of 11.94% and a negative return on equity of 414.67%. The business had revenue of $467 million for the quarter, compared to analysts’ expectations of $444.83 million. During the same quarter last year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, analysts forecast that Idexx Laboratories Inc. will post $2.36 earnings per share for the current fiscal year.
Several equities analysts have issued reports on IDXX shares. Zacks Investment Research upgraded Idexx Laboratories from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research report on Monday, July 25th. Stifel Nicolaus boosted their target price on Idexx Laboratories from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, August 16th. Canaccord Genuity reiterated a “buy” rating on shares of Idexx Laboratories in a research report on Tuesday, August 2nd. Finally, Northcoast Research upgraded Idexx Laboratories from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 3rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $105.20.
In other news, Chairman Jonathan W. Ayers sold 60,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $107.69, for a total transaction of $6,461,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William T. End sold 5,000 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $108.50, for a total transaction of $542,500.00. Following the transaction, the director now directly owns 53,564 shares in the company, valued at approximately $5,811,694. The disclosure for this sale can be found here. Insiders own 2.79% of the company’s stock.
About Idexx Laboratories
Want to see what other hedge funds are holding IDXX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Idexx Laboratories Inc. (NASDAQ:IDXX).
Receive News & Ratings for Idexx Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Idexx Laboratories Inc. and related companies with MarketBeat.com's FREE daily email newsletter.