Coastline Trust Co Takes Position in IDEXX Laboratories, Inc. (IDXX)
Coastline Trust Co purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,250 shares of the company’s stock, valued at approximately $202,000.
A number of other institutional investors and hedge funds have also modified their holdings of IDXX. Vanguard Group Inc. lifted its holdings in IDEXX Laboratories by 24.3% during the 1st quarter. Vanguard Group Inc. now owns 8,910,555 shares of the company’s stock worth $1,377,660,000 after buying an additional 1,740,446 shares during the last quarter. BlackRock Inc. lifted its holdings in IDEXX Laboratories by 1,967.1% during the 1st quarter. BlackRock Inc. now owns 6,427,027 shares of the company’s stock worth $993,680,000 after buying an additional 6,116,102 shares during the last quarter. State Street Corp lifted its holdings in IDEXX Laboratories by 38.6% during the 1st quarter. State Street Corp now owns 3,911,739 shares of the company’s stock worth $604,793,000 after buying an additional 1,089,880 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in IDEXX Laboratories by 59.1% during the 1st quarter. Renaissance Technologies LLC now owns 975,600 shares of the company’s stock worth $150,838,000 after buying an additional 362,400 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in IDEXX Laboratories by 41.6% during the 1st quarter. Geode Capital Management LLC now owns 921,279 shares of the company’s stock worth $142,250,000 after buying an additional 270,871 shares during the last quarter. 87.73% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have commented on the company. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $182.00 target price on the stock in a report on Wednesday, June 28th. Aegis assumed coverage on IDEXX Laboratories in a report on Wednesday, May 31st. They set a “sell” rating and a $118.00 target price on the stock. They noted that the move was a valuation call. Bank of America Corporation raised IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a report on Wednesday, August 23rd. BidaskClub downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $185.00 target price on shares of IDEXX Laboratories in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $174.00.
In other news, Director Lawrence D. Kingsley purchased 2,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were purchased at an average cost of $151.76 per share, for a total transaction of $303,520.00. Following the completion of the purchase, the director now directly owns 3,344 shares of the company’s stock, valued at approximately $507,485.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Jonathan W. Ayers sold 18,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $155.22, for a total value of $2,793,960.00. The disclosure for this sale can be found here. Insiders have sold 151,734 shares of company stock worth $23,436,626 over the last 90 days. Corporate insiders own 2.77% of the company’s stock.
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IDEXX Laboratories, Inc. (NASDAQ:IDXX) opened at 159.00 on Thursday. The company has a market cap of $13.88 billion, a P/E ratio of 54.70 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. The firm’s 50-day moving average price is $155.78 and its 200-day moving average price is $158.76.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results 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. 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 period in the previous year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Analysts expect that IDEXX Laboratories, Inc. will post $3.18 EPS for the current year.
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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