IDEXX Laboratories, Inc. (IDXX) Shares Sold by Bessemer Group Inc.
Bessemer Group Inc. cut its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 13.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 11,682 shares of the company’s stock after selling 1,751 shares during the period. Bessemer Group Inc.’s holdings in IDEXX Laboratories were worth $1,885,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Quadrature Capital Ltd bought a new position in IDEXX Laboratories during the fourth quarter worth approximately $230,000. UBS Asset Management Americas Inc. boosted 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 worth $22,447,000 after buying an additional 3,571 shares during the last quarter. Teachers Advisors LLC boosted 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 worth $15,668,000 after buying an additional 36,732 shares during the last quarter. Highbridge Capital Management LLC bought a new position in IDEXX Laboratories during the fourth quarter worth approximately $208,000. Finally, Chevy Chase Trust Holdings Inc. bought a new position in IDEXX Laboratories during the first quarter worth approximately $11,758,000. Hedge funds and other institutional investors own 89.80% of the company’s stock.
IDEXX Laboratories, Inc. (NASDAQ IDXX) opened at 151.06 on Friday. The firm’s 50-day moving average is $162.05 and its 200 day moving average is $155.37. The company has a market capitalization of $13.18 billion, a PE ratio of 51.96 and a beta of 0.49. IDEXX Laboratories, Inc. has a one year low of $102.45 and a one year high of $173.01.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.10. The firm had revenue of $508.90 million for the quarter, compared to analyst estimates of $502.44 million. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 473.46%. IDEXX Laboratories’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. On average, equities analysts expect that IDEXX Laboratories, Inc. will post $3.18 EPS for the current fiscal year.
IDEXX Laboratories declared that its board has authorized a stock repurchase plan on Wednesday, May 3rd that permits the company to repurchase 3,000,000 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
IDXX has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $181.00 price target on the stock in a report on Tuesday, April 25th. Canaccord Genuity restated a “buy” rating and issued a $180.00 price target (up from $165.00) on shares of IDEXX Laboratories in a report on Friday, April 28th. Stifel Nicolaus upped their price target on shares of IDEXX Laboratories from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Aegis initiated coverage on shares of IDEXX Laboratories in a report on Wednesday, May 31st. They issued a “sell” rating and a $118.00 price target on the stock. They noted that the move was a valuation call. Finally, BidaskClub cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. IDEXX Laboratories has a consensus rating of “Hold” and a consensus target price of $173.80.
In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 17,000 shares of IDEXX Laboratories stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $154.54, for a total value of $2,627,180.00. Following the completion of the transaction, the chairman now directly owns 1,039,034 shares of the company’s stock, valued at approximately $160,572,314.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Jonathan W. Ayers sold 13,000 shares of IDEXX Laboratories stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $167.82, for a total value of $2,181,660.00. Following the completion of the transaction, the chairman now directly owns 1,032,994 shares of the company’s stock, valued at $173,357,053.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,572 shares of company stock valued at $8,844,817. 2.77% of the stock is currently owned by corporate insiders.
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.
Want to see what other hedge funds are holding IDXX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEXX Laboratories, Inc. (NASDAQ:IDXX).
Receive News & Ratings for IDEXX Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEXX Laboratories Inc. and related companies with MarketBeat.com's FREE daily email newsletter.