Isthmus Partners LLC bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,777 shares of the company’s stock, valued at approximately $916,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in IDXX. Conestoga Capital Advisors LLC raised its holdings in shares of IDEXX Laboratories by 1.8% in the 1st quarter. Conestoga Capital Advisors LLC now owns 17,290 shares of the company’s stock valued at $3,866,000 after purchasing an additional 299 shares during the period. Bfsg LLC bought a new position in IDEXX Laboratories in the 1st quarter valued at about $517,000. Gulf International Bank UK Ltd raised its holdings in IDEXX Laboratories by 1.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 19,673 shares of the company’s stock valued at $4,398,000 after acquiring an additional 323 shares during the period. IFM Investors Pty Ltd raised its holdings in IDEXX Laboratories by 14.0% in the 1st quarter. IFM Investors Pty Ltd now owns 5,728 shares of the company’s stock valued at $1,281,000 after acquiring an additional 704 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in IDEXX Laboratories by 0.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 62,105 shares of the company’s stock valued at $13,887,000 after acquiring an additional 165 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.
IDXX has been the topic of several research analyst reports. Canaccord Genuity increased their price target on shares of IDEXX Laboratories from $255.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. BidaskClub raised shares of IDEXX Laboratories from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Finally, Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “strong-buy” rating and set a $236.00 price target on the stock in a report on Monday, February 4th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $253.50.
IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Wednesday, May 1st. The company reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $576.06 million for the quarter, compared to analyst estimates of $575.04 million. During the same quarter in the prior year, the business posted $1.01 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. Equities analysts expect that IDEXX Laboratories, Inc. will post 4.82 earnings per share for the current fiscal year.
In related news, VP Brian P. Mckeon sold 7,504 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $247.87, for a total transaction of $1,860,016.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael Lane sold 971 shares of the stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $208.00, for a total transaction of $201,968.00. The disclosure for this sale can be found here. Insiders have sold a total of 60,761 shares of company stock worth $14,196,458 in the last quarter. 2.70% of the stock is currently owned by company insiders.
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IDEXX Laboratories Company 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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