Eqis Capital Management Inc. lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 15.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,390 shares of the company’s stock after selling 1,868 shares during the quarter. Eqis Capital Management Inc.’s holdings in IDEXX Laboratories were worth $2,323,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Pearl River Capital LLC purchased a new position in IDEXX Laboratories in the fourth quarter worth $28,000. Sontag Advisory LLC purchased a new position in IDEXX Laboratories in the fourth quarter worth $79,000. Quantamental Technologies LLC purchased a new position in IDEXX Laboratories in the fourth quarter worth $92,000. Ipswich Investment Management Co. Inc. purchased a new position in IDEXX Laboratories in the fourth quarter worth $124,000. Finally, ETF Managers Group LLC grew its position in IDEXX Laboratories by 15.8% in the fourth quarter. ETF Managers Group LLC now owns 682 shares of the company’s stock worth $127,000 after acquiring an additional 93 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.
IDXX has been the subject of several research reports. Canaccord Genuity cut their target price on shares of IDEXX Laboratories from $255.00 to $254.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. BidaskClub raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Finally, Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $271.00 price target for the company in a research note on Friday, May 3rd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $253.50.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.13. IDEXX Laboratories had a net margin of 17.33% and a return on equity of 354,783.84%. The company had revenue of $576.06 million for the quarter, compared to analysts’ expectations of $575.04 million. During the same quarter in the previous year, the company earned $1.01 earnings per share. IDEXX Laboratories’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, research analysts forecast that IDEXX Laboratories, Inc. will post 4.82 EPS for the current fiscal year.
In other IDEXX Laboratories news, VP Brian P. Mckeon sold 7,504 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $247.87, for a total value of $1,860,016.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director M Anne Szostak sold 5,906 shares of the company’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,234,117.76. Following the completion of the sale, the director now owns 6,490 shares in the company, valued at approximately $1,356,150.40. The disclosure for this sale can be found here. Insiders have sold 60,761 shares of company stock worth $14,196,458 in the last quarter. 2.70% of the stock is owned by corporate insiders.
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IDEXX Laboratories Profile
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. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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