IDEXX Laboratories, Inc. (IDXX) Director Lawrence D. Kingsley Acquires 2,000 Shares
IDEXX Laboratories, Inc. (NASDAQ:IDXX) Director Lawrence D. Kingsley purchased 2,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were bought at an average cost of $151.76 per share, with a total value of $303,520.00. Following the purchase, the director now directly owns 3,344 shares of the company’s stock, valued at approximately $507,485.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.
IDEXX Laboratories, Inc. (IDXX) traded down 0.97% during trading on Friday, reaching $152.60. 464,850 shares of the company’s stock traded hands. IDEXX Laboratories, Inc. has a 12-month low of $102.45 and a 12-month high of $173.01. The company has a 50 day moving average price of $163.95 and a 200-day moving average price of $154.43. The company has a market cap of $13.32 billion, a PE ratio of 52.49 and a beta of 0.49.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.10. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 473.46%. The business had revenue of $508.90 million for the quarter, compared to analyst estimates of $502.44 million. During the same period last year, the business earned $0.74 EPS. The company’s revenue was up 9.1% on a year-over-year basis. On average, equities research analysts forecast that IDEXX Laboratories, Inc. will post $3.16 EPS for the current fiscal year.
IDEXX Laboratories declared that its board has approved a share buyback plan on Wednesday, May 3rd that authorizes the company to repurchase 3,000,000 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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 $181.00 price target for the company in a research note on Tuesday, April 25th. Canaccord Genuity reissued a “buy” rating and set a $180.00 price objective (up from $165.00) on shares of IDEXX Laboratories in a report on Friday, April 28th. Stifel Nicolaus lifted their price objective on shares of IDEXX Laboratories from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, May 1st. Aegis began coverage on shares of IDEXX Laboratories in a report on Wednesday, May 31st. They set a “sell” rating and a $118.00 price objective on the stock. They noted that the move was a valuation call. Finally, BidaskClub lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $173.80.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. increased its position in IDEXX Laboratories by 2.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the company’s stock worth $119,000 after buying an additional 17 shares during the period. Lourd Capital LLC increased its position in IDEXX Laboratories by 1.1% in the first quarter. Lourd Capital LLC now owns 3,277 shares of the company’s stock worth $507,000 after buying an additional 36 shares during the period. CAPROCK Group Inc. increased its position in IDEXX Laboratories by 2.2% in the second quarter. CAPROCK Group Inc. now owns 1,830 shares of the company’s stock worth $295,000 after buying an additional 40 shares during the period. Strs Ohio increased its position in IDEXX Laboratories by 0.7% in the second quarter. Strs Ohio now owns 5,929 shares of the company’s stock worth $957,000 after buying an additional 41 shares during the period. Finally, Fayez Sarofim & Co increased its position in IDEXX Laboratories by 1.4% in the first quarter. Fayez Sarofim & Co now owns 3,500 shares of the company’s stock worth $541,000 after buying an additional 50 shares during the period. 89.12% of the stock is currently owned by hedge funds and other institutional investors.
IDEXX Laboratories Company Profile
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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