CIBC Asset Management Inc Has $1.77 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)
CIBC Asset Management Inc boosted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 10,939 shares of the company’s stock after buying an additional 316 shares during the period. CIBC Asset Management Inc’s holdings in IDEXX Laboratories were worth $1,766,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of IDXX. Quadrature Capital Ltd purchased a new position in shares of IDEXX Laboratories during the fourth quarter valued at $230,000. UBS Asset Management Americas Inc. increased its position in IDEXX Laboratories by 1.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 191,408 shares of the company’s stock valued at $22,447,000 after buying an additional 3,571 shares during the period. Teachers Advisors LLC increased its position in IDEXX Laboratories by 37.9% in the fourth quarter. Teachers Advisors LLC now owns 133,604 shares of the company’s stock valued at $15,668,000 after buying an additional 36,732 shares during the period. Highbridge Capital Management LLC bought a new position in IDEXX Laboratories during the fourth quarter valued at approximately $208,000. Finally, Chevy Chase Trust Holdings Inc. bought a new position in IDEXX Laboratories during the first quarter valued at approximately $11,758,000. 89.80% of the stock is currently owned by institutional investors and hedge funds.
IDEXX Laboratories, Inc. (IDXX) opened at 154.77 on Wednesday. The stock has a 50 day moving average of $163.25 and a 200 day moving average of $154.39. The stock has a market cap of $13.51 billion, a P/E ratio of 53.24 and a beta of 0.49. IDEXX Laboratories, Inc. has a 12-month low of $102.45 and a 12-month high of $173.01.
IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $508.90 million for the quarter, compared to analyst estimates of $502.44 million. During the same quarter last year, the firm posted $0.74 EPS. The business’s revenue was up 9.1% on a year-over-year basis. On average, equities research analysts anticipate that IDEXX Laboratories, Inc. will post $3.17 earnings per share for the current fiscal year.
IDEXX Laboratories declared that its Board of Directors has authorized a share repurchase plan on Wednesday, May 3rd that permits the company to repurchase 3,000,000 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
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IDXX has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Canaccord Genuity reissued a “buy” rating and issued a $180.00 target price on shares of IDEXX Laboratories in a report on Tuesday, June 13th. BidaskClub raised shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $185.00 target price on shares of IDEXX Laboratories in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average 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 the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $162.55, for a total value of $812,750.00. Following the transaction, the director now owns 45,256 shares in the company, valued at approximately $7,356,362.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence D. Kingsley acquired 2,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was purchased at an average price of $151.76 per share, for a total transaction of $303,520.00. Following 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 20,572 shares of company stock worth $3,423,677 in the last quarter. 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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