Prelude Capital Management LLC reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX – Free Report) by 81.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 741 shares of the company’s stock after selling 3,195 shares during the period. Prelude Capital Management LLC’s holdings in IDEXX Laboratories were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avalon Trust Co acquired a new stake in IDEXX Laboratories in the 1st quarter worth about $25,000. Altshuler Shaham Ltd acquired a new stake in shares of IDEXX Laboratories in the fourth quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new stake in shares of IDEXX Laboratories in the first quarter valued at approximately $28,000. Resurgent Financial Advisors LLC acquired a new stake in IDEXX Laboratories during the fourth quarter worth approximately $31,000. Finally, Pacifica Partners Inc. bought a new position in IDEXX Laboratories during the 1st quarter worth $33,000. 86.85% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have recently issued reports on the company. Atlantic Securities lowered IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $610.00 target price on the stock. in a report on Wednesday, August 2nd. JPMorgan Chase & Co. raised their target price on shares of IDEXX Laboratories from $550.00 to $600.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. Stifel Nicolaus cut their price target on shares of IDEXX Laboratories from $525.00 to $500.00 and set a “hold” rating for the company in a report on Friday. Morgan Stanley lifted their price objective on shares of IDEXX Laboratories from $590.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. Finally, StockNews.com began coverage on IDEXX Laboratories in a research note on Thursday, August 17th. They set a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $571.67.
Insider Buying and Selling
In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 13,424 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $512.01, for a total value of $6,873,222.24. Following the completion of the transaction, the chief executive officer now directly owns 72,925 shares in the company, valued at approximately $37,338,329.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Jonathan Jay Mazelsky sold 13,424 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $512.01, for a total transaction of $6,873,222.24. Following the completion of the transaction, the chief executive officer now directly owns 72,925 shares in the company, valued at $37,338,329.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Lane sold 16,027 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $510.00, for a total transaction of $8,173,770.00. Following the completion of the transaction, the executive vice president now owns 4,034 shares in the company, valued at approximately $2,057,340. The disclosure for this sale can be found here. Insiders have sold a total of 52,360 shares of company stock worth $26,743,411 in the last ninety days. Company insiders own 2.11% of the company’s stock.
IDEXX Laboratories Stock Down 2.5 %
Shares of IDXX opened at $450.69 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.89 and a current ratio of 1.33. IDEXX Laboratories, Inc. has a 52 week low of $317.06 and a 52 week high of $564.73. The stock has a market capitalization of $37.41 billion, a price-to-earnings ratio of 47.84, a PEG ratio of 2.66 and a beta of 1.20. The stock has a fifty day moving average of $510.75 and a 200-day moving average of $490.76.
IDEXX Laboratories (NASDAQ:IDXX – Get Free Report) last posted its earnings results on Tuesday, August 1st. The company reported $2.67 EPS for the quarter, beating the consensus estimate of $2.43 by $0.24. The firm had revenue of $943.63 million during the quarter, compared to the consensus estimate of $927.84 million. IDEXX Laboratories had a return on equity of 104.84% and a net margin of 22.52%. As a group, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 9.82 earnings per share for the current fiscal year.
About IDEXX Laboratories
IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.
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