Howland Capital Management LLC Decreases Position in IDEXX Laboratories, Inc. (IDXX)
Howland Capital Management LLC reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 20.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,400 shares of the company’s stock after selling 51,073 shares during the period. IDEXX Laboratories accounts for about 2.7% of Howland Capital Management LLC’s portfolio, making the stock its 4th largest position. Howland Capital Management LLC’s holdings in IDEXX Laboratories were worth $31,293,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at approximately $112,138,000. Janus Capital Management LLC raised its position in shares of IDEXX Laboratories by 55.8% in the fourth quarter. Janus Capital Management LLC now owns 501,118 shares of the company’s stock valued at $58,766,000 after buying an additional 179,473 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its position in shares of IDEXX Laboratories by 61.4% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 436,000 shares of the company’s stock valued at $49,150,000 after buying an additional 165,912 shares during the last quarter. Peregrine Capital Management LLC bought a new position in shares of IDEXX Laboratories during the third quarter valued at approximately $18,297,000. Finally, Asset Management One Co. Ltd. raised its position in shares of IDEXX Laboratories by 1,907.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 169,025 shares of the company’s stock valued at $19,831,000 after buying an additional 160,604 shares during the last quarter. 91.42% of the stock is owned by hedge funds and other institutional investors.
Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) traded up 0.24% during trading on Tuesday, reaching $155.66. 414,775 shares of the company traded hands. The stock’s 50 day moving average is $151.71 and its 200 day moving average is $127.91. IDEXX Laboratories, Inc. has a 1-year low of $79.86 and a 1-year high of $157.03. The company has a market capitalization of $13.70 billion, a price-to-earnings ratio of 63.80 and a beta of 0.48.
IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, February 2nd. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.07. IDEXX Laboratories had a net margin of 12.51% and a negative return on equity of 671.57%. The firm had revenue of $443 million for the quarter, compared to the consensus estimate of $436.07 million. During the same period in the prior year, the firm earned $0.48 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts forecast that IDEXX Laboratories, Inc. will post $2.94 EPS for the current year.
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IDXX has been the subject of several research analyst reports. Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research report on Tuesday, February 7th. Feltl & Co. lowered shares of IDEXX Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, February 3rd. Finally, Canaccord Genuity set a $125.00 price objective on shares of IDEXX Laboratories and gave the company a “buy” rating in a research report on Tuesday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $143.00.
In related news, Director Daniel M. Junius sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $141.75, for a total transaction of $425,250.00. Following the sale, the director now directly owns 5,495 shares of the company’s stock, valued at approximately $778,916.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Jonathan W. Ayers sold 36,250 shares of the company’s stock in a transaction that occurred on Wednesday, February 8th. The stock was sold at an average price of $141.63, for a total transaction of $5,134,087.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,174 shares of company stock worth $11,955,273. 2.79% of the stock is owned by insiders.
About IDEXX Laboratories
IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.
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