First Manhattan Co. Has $653,000 Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)
First Manhattan Co. maintained its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the second quarter, Holdings Channel reports. The institutional investor owned 4,050 shares of the company’s stock at the end of the second quarter. First Manhattan Co.’s holdings in IDEXX Laboratories were worth $653,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Bronfman E.L. Rothschild L.P. raised 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 in the last quarter. Capital Advisors Ltd. LLC acquired a new position in IDEXX Laboratories during the second quarter worth approximately $128,000. Acrospire Investment Management LLC raised its position in IDEXX Laboratories by 496.5% in the first quarter. Acrospire Investment Management LLC now owns 841 shares of the company’s stock worth $130,000 after buying an additional 700 shares in the last quarter. Global X Management Co. LLC raised its position in IDEXX Laboratories by 44.6% in the first quarter. Global X Management Co. LLC now owns 1,047 shares of the company’s stock worth $162,000 after buying an additional 323 shares in the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in IDEXX Laboratories during the first quarter worth approximately $200,000. 89.80% of the stock is currently owned by institutional investors.
Shares of IDEXX Laboratories, Inc. (IDXX) opened at 155.49 on Tuesday. The company has a market cap of $13.57 billion, a P/E ratio of 53.49 and a beta of 0.49. The stock’s 50 day moving average price is $163.95 and its 200-day moving average price is $154.43. IDEXX Laboratories, Inc. has a 52-week low of $102.45 and a 52-week high of $173.01.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.10. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. The company had revenue of $508.90 million for the quarter, compared to the consensus estimate of $502.44 million. During the same quarter last year, the business posted $0.74 EPS. IDEXX Laboratories’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities analysts expect that IDEXX Laboratories, Inc. will post $3.17 EPS for the current year.
IDEXX Laboratories declared that its Board of Directors has approved a stock buyback program on Wednesday, May 3rd that authorizes the company to buyback 3,000,000 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
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IDXX has been the topic of a number of recent analyst reports. BidaskClub lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Canaccord Genuity reissued a “buy” rating and issued a $180.00 price objective on shares of IDEXX Laboratories in a research note on Tuesday, June 13th. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $177.00 price objective on the stock in a research note on Tuesday, June 13th. Finally, Stifel Nicolaus boosted their price objective on IDEXX Laboratories from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $173.80.
In other IDEXX Laboratories news, Director William T. End sold 5,000 shares of IDEXX Laboratories stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $162.55, for a total transaction of $812,750.00. Following the transaction, the director now directly owns 45,256 shares of the company’s stock, valued at approximately $7,356,362.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence D. Kingsley bought 2,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of $151.76 per share, for a total transaction of $303,520.00. Following the completion of the acquisition, the director now directly owns 3,344 shares in the company, valued at approximately $507,485.44. The disclosure for this purchase can be found here. Insiders have sold a total of 47,572 shares of company stock worth $7,816,307 over the last ninety days. Company insiders own 2.77% of the company’s stock.
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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