Wells Fargo & Company MN Decreases Position in Idexx Laboratories Inc. (IDXX)
Wells Fargo & Company MN lowered its stake in shares of Idexx Laboratories Inc. (NASDAQ:IDXX) by 64.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 112,811 shares of the company’s stock after selling 206,500 shares during the period. Wells Fargo & Company MN’s holdings in Idexx Laboratories were worth $12,717,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in IDXX. Virginia Retirement Systems ET AL purchased a new stake in Idexx Laboratories during the third quarter valued at $845,000. BRC Investment Management LLC bought a new position in shares of Idexx Laboratories during the third quarter valued at approximately $743,000. Peregrine Capital Management LLC bought a new position in shares of Idexx Laboratories during the third quarter valued at approximately $18,297,000. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Idexx Laboratories by 4.2% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 6,077 shares of the company’s stock valued at $685,000 after buying an additional 245 shares during the last quarter. Finally, Shaker Investments LLC OH bought a new position in shares of Idexx Laboratories during the third quarter valued at approximately $225,000. 90.84% of the stock is currently owned by institutional investors.
Idexx Laboratories Inc. (NASDAQ:IDXX) traded up 0.80% on Tuesday, hitting $120.43. The stock had a trading volume of 228,669 shares. The stock’s 50-day moving average is $111.46 and its 200-day moving average is $103.18. Idexx Laboratories Inc. has a 52-week low of $63.48 and a 52-week high of $121.06. The company has a market cap of $10.80 billion, a P/E ratio of 51.29 and a beta of 0.48.
Idexx Laboratories (NASDAQ:IDXX) last released its earnings results on Tuesday, November 1st. The company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $448.30 million for the quarter, compared to analysts’ expectations of $448.60 million. Idexx Laboratories had a negative return on equity of 788.91% and a net margin of 12.36%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Analysts expect that Idexx Laboratories Inc. will post $2.38 earnings per share for the current year.
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Several research analysts have commented on the company. Canaccord Genuity set a $125.00 target price on Idexx Laboratories and gave the stock a “buy” rating in a report on Saturday, October 15th. Zacks Investment Research raised Idexx Laboratories from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a report on Thursday, August 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $120.00 target price (up from $92.00) on shares of Idexx Laboratories in a report on Wednesday, August 3rd. Northcoast Research raised Idexx Laboratories from a “sell” rating to a “neutral” rating in a report on Wednesday, August 3rd. Finally, Bank of America Corp. reaffirmed a “neutral” rating on shares of Idexx Laboratories in a report on Thursday, September 29th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Idexx Laboratories presently has a consensus rating of “Buy” and an average price target of $105.20.
In related news, Director William T. End sold 5,000 shares of the stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $109.87, for a total value of $549,350.00. Following the transaction, the director now owns 48,654 shares of the company’s stock, valued at $5,345,614.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas Craig sold 8,500 shares of the stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $120.06, for a total value of $1,020,510.00. Following the completion of the transaction, the director now directly owns 32,783 shares in the company, valued at approximately $3,935,926.98. The disclosure for this sale can be found here. 2.79% of the stock is owned by corporate insiders.
Idexx Laboratories Company Profile
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