BlackRock Advisors LLC Purchases 10,519 Shares of Idexx Laboratories Inc. (IDXX)
BlackRock Advisors LLC boosted its stake in shares of Idexx Laboratories Inc. (NASDAQ:IDXX) by 11.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,282 shares of the company’s stock after buying an additional 10,519 shares during the period. BlackRock Advisors LLC owned 0.12% of Idexx Laboratories worth $9,684,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Idexx Laboratories by 4.0% in the first quarter. Geode Capital Management LLC now owns 576,331 shares of the company’s stock worth $45,138,000 after buying an additional 22,351 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Idexx Laboratories by 43.2% in the first quarter. Goldman Sachs Group Inc. now owns 391,756 shares of the company’s stock worth $30,683,000 after buying an additional 118,115 shares in the last quarter. Renaissance Technologies LLC increased its stake in Idexx Laboratories by 242.6% in the first quarter. Renaissance Technologies LLC now owns 437,504 shares of the company’s stock worth $34,265,000 after buying an additional 309,804 shares in the last quarter. Smith Asset Management Group LP bought a new stake in Idexx Laboratories during the second quarter worth about $12,467,000. Finally, Emerald Acquisition Ltd. bought a new stake in Idexx Laboratories during the second quarter worth about $15,656,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Idexx Laboratories Inc. (NASDAQ:IDXX) opened at 115.32 on Friday. The company has a market cap of $10.33 billion, a PE ratio of 52.28 and a beta of 0.41. Idexx Laboratories Inc. has a one year low of $63.48 and a one year high of $115.52. The stock’s 50 day moving average price is $111.89 and its 200-day moving average price is $95.33.
Idexx Laboratories (NASDAQ:IDXX) last posted its earnings results on Tuesday, August 2nd. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $467 million for the quarter, compared to analyst estimates of $444.83 million. During the same quarter in the prior year, the business posted $0.60 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. On average, analysts expect that Idexx Laboratories Inc. will post $2.36 EPS for the current year.
A number of analysts recently issued reports on IDXX shares. Zacks Investment Research raised 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. Bank of America Corp. reaffirmed a “neutral” rating on shares of Idexx Laboratories in a research report on Thursday, September 29th. Stifel Nicolaus lifted their target price on Idexx Laboratories from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, August 16th. Canaccord Genuity reaffirmed 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 report on Wednesday, August 3rd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $105.20.
In related news, Director Rebecca M. Henderson sold 9,924 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $110.43, for a total value of $1,095,907.32. Following the sale, the director now owns 16,678 shares in the company, valued at approximately $1,841,751.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jonathan W. Ayers sold 60,000 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $107.69, for a total transaction of $6,461,400.00. The disclosure for this sale can be found here. 2.79% of the stock is currently owned by corporate insiders.
About Idexx Laboratories
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