Bank of Nova Scotia lessened its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 14.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,479 shares of the company’s stock after selling 1,632 shares during the period. Bank of Nova Scotia’s holdings in IDEXX Laboratories were worth $2,066,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Financial Gravity Wealth Inc. purchased a new stake in shares of IDEXX Laboratories in the 1st quarter worth about $191,000. Toronto Dominion Bank lifted its position in shares of IDEXX Laboratories by 25.0% in the 1st quarter. Toronto Dominion Bank now owns 46,969 shares of the company’s stock worth $8,986,000 after purchasing an additional 9,395 shares during the period. Stratos Wealth Partners LTD. lifted its position in shares of IDEXX Laboratories by 218.0% in the 1st quarter. Stratos Wealth Partners LTD. now owns 4,656 shares of the company’s stock worth $891,000 after purchasing an additional 3,192 shares during the period. Brinker Capital Inc. lifted its position in shares of IDEXX Laboratories by 53.3% in the 1st quarter. Brinker Capital Inc. now owns 5,686 shares of the company’s stock worth $1,088,000 after purchasing an additional 1,977 shares during the period. Finally, Natixis Advisors L.P. purchased a new stake in shares of IDEXX Laboratories in the 1st quarter worth about $2,066,000. 91.17% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ IDXX opened at $244.39 on Thursday. IDEXX Laboratories, Inc. has a 1 year low of $146.09 and a 1 year high of $256.22. The stock has a market cap of $21.02 billion, a P/E ratio of 74.51, a price-to-earnings-growth ratio of 2.22 and a beta of 0.64. The company has a debt-to-equity ratio of -14.77, a current ratio of 0.96 and a quick ratio of 0.73.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Wednesday, August 1st. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. IDEXX Laboratories had a net margin of 14.50% and a negative return on equity of 703.80%. The company had revenue of $580.75 million during the quarter, compared to analysts’ expectations of $574.68 million. During the same period last year, the company posted $0.87 EPS. IDEXX Laboratories’s revenue was up 14.1% on a year-over-year basis. research analysts forecast that IDEXX Laboratories, Inc. will post 4.18 earnings per share for the current fiscal year.
Several equities research analysts have recently commented on IDXX shares. Zacks Investment Research cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, July 9th. BidaskClub cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 11th. Stifel Nicolaus lifted their price target on shares of IDEXX Laboratories from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. Finally, Credit Suisse Group lifted their price target on shares of IDEXX Laboratories from $255.00 to $259.00 and gave the company an “outperform” rating in a research report on Friday, August 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $244.00.
In related news, CEO Jonathan W. Ayers sold 7,000 shares of IDEXX Laboratories stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $247.33, for a total transaction of $1,731,310.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce L. Claflin purchased 415 shares of the stock in a transaction that occurred on Friday, August 3rd. The shares were acquired at an average cost of $242.12 per share, with a total value of $100,479.80. Following the completion of the transaction, the director now owns 1,415 shares in the company, valued at $342,599.80. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 70,129 shares of company stock valued at $17,159,219. 2.56% of the stock is currently owned by corporate insiders.
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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