Toronto Dominion Bank Has $14.10 Million Position in IDEXX Laboratories, Inc. (IDXX)
Toronto Dominion Bank trimmed its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,503 shares of the company’s stock after selling 826 shares during the quarter. Toronto Dominion Bank owned 0.07% of IDEXX Laboratories worth $14,103,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IDXX. Fundsmith Equity Fund L.P. acquired a new position in IDEXX Laboratories during the 2nd quarter worth $965,278,000. Marshall Wace LLP acquired a new position in IDEXX Laboratories during the 2nd quarter worth $45,884,000. Ardevora Asset Management LLP acquired a new position in IDEXX Laboratories during the 2nd quarter worth $34,461,000. State Treasurer State of Michigan grew its stake in IDEXX Laboratories by 603.5% during the 3rd quarter. State Treasurer State of Michigan now owns 180,800 shares of the company’s stock worth $45,139,000 after purchasing an additional 155,100 shares in the last quarter. Finally, Worldquant Millennium Quantitative Strategies LLC acquired a new position in IDEXX Laboratories during the 2nd quarter worth $31,288,000. 91.71% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on IDXX shares. BidaskClub cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Piper Jaffray Companies boosted their target price on IDEXX Laboratories to $236.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 1st. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $274.00 target price for the company in a research note on Thursday, August 2nd. Credit Suisse Group boosted their target price on IDEXX Laboratories from $255.00 to $259.00 and gave the stock an “outperform” rating in a research note on Friday, August 17th. Finally, Bank of America decreased their price target on IDEXX Laboratories from $275.00 to $235.00 and set a “buy” rating for the company in a report on Friday, November 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $252.33.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, November 1st. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.08. The company had revenue of $545.00 million during the quarter, compared to the consensus estimate of $545.66 million. IDEXX Laboratories had a negative return on equity of 994.76% and a net margin of 15.19%. IDEXX Laboratories’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.76 EPS. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 4.19 earnings per share for the current fiscal year.
In other IDEXX Laboratories news, VP Jacqueline Studer sold 3,313 shares of IDEXX Laboratories stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $201.27, for a total transaction of $666,807.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jonathan W. Ayers sold 30,000 shares of IDEXX Laboratories stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $245.50, for a total value of $7,365,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 40,313 shares of company stock valued at $9,763,118 over the last ninety days. 2.56% of the stock is owned by company insiders.
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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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