Millennium Management LLC Purchases 39,740 Shares of IDEXX Laboratories, Inc. (IDXX)
Millennium Management LLC raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 17.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 264,562 shares of the company’s stock after buying an additional 39,740 shares during the quarter. Millennium Management LLC’s holdings in IDEXX Laboratories were worth $57,659,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Signaturefd LLC acquired a new position in IDEXX Laboratories in the 1st quarter valued at $105,000. Three Peaks Capital Management LLC acquired a new position in IDEXX Laboratories in the 1st quarter valued at $108,000. Valeo Financial Advisors LLC acquired a new position in IDEXX Laboratories in the 2nd quarter valued at $134,000. Optimum Investment Advisors acquired a new position in IDEXX Laboratories in the 1st quarter valued at $139,000. Finally, Cerebellum GP LLC acquired a new position in IDEXX Laboratories in the 2nd quarter valued at $181,000. 91.18% of the stock is currently owned by institutional investors.
In related news, VP Jacqueline Studer sold 8,598 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $242.37, for a total value of $2,083,897.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bruce L. Claflin acquired 415 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The stock was acquired at an average price of $242.12 per share, for a total transaction of $100,479.80. Following the completion of the transaction, the director now directly owns 1,415 shares in the company, valued at $342,599.80. The disclosure for this purchase can be found here. Insiders have sold a total of 70,129 shares of company stock worth $17,159,219 over the last 90 days. Insiders own 2.56% of the company’s stock.
IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Wednesday, August 1st. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.17 by $0.06. The company had revenue of $580.75 million for the quarter, compared to analyst estimates of $574.68 million. IDEXX Laboratories had a net margin of 14.50% and a negative return on equity of 703.80%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 EPS. analysts forecast that IDEXX Laboratories, Inc. will post 4.18 EPS for the current year.
Several equities analysts have issued reports on the stock. BidaskClub cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 11th. Credit Suisse Group boosted their target price on shares of IDEXX Laboratories from $255.00 to $259.00 and gave the stock an “outperform” rating in a research report on Friday, August 17th. Zacks Investment Research lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Piper Jaffray Companies boosted their target price on shares of IDEXX Laboratories to $236.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 1st. Finally, Stifel Nicolaus boosted their target price on shares of IDEXX Laboratories from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, July 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $244.00.
About IDEXX Laboratories
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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