EFG Asset Management Americas Corp. Purchases 14,483 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)
EFG Asset Management Americas Corp. grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 112.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,318 shares of the company’s stock after purchasing an additional 14,483 shares during the period. IDEXX Laboratories makes up approximately 2.3% of EFG Asset Management Americas Corp.’s portfolio, making the stock its 7th biggest holding. EFG Asset Management Americas Corp.’s holdings in IDEXX Laboratories were worth $9,017,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in IDXX. Sunbelt Securities Inc. acquired a new stake in IDEXX Laboratories during the fourth quarter worth about $4,374,000. Anderson Fisher LLC acquired a new stake in IDEXX Laboratories during the second quarter worth about $36,000. Sound Income Strategies LLC increased its stake in IDEXX Laboratories by 189.1% during the first quarter. Sound Income Strategies LLC now owns 133 shares of the company’s stock worth $32,000 after acquiring an additional 87 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in IDEXX Laboratories during the second quarter worth about $46,000. Finally, Key Financial Inc acquired a new stake in IDEXX Laboratories during the first quarter worth about $36,000. 88.58% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the company. Bank of America increased their target price on IDEXX Laboratories from $300.00 to $390.00 and gave the company a “buy” rating in a research note on Monday, July 20th. BidaskClub lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Stifel Nicolaus increased their target price on IDEXX Laboratories from $280.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday. Finally, TheStreet upgraded IDEXX Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, April 30th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $317.14.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Friday, July 31st. The company reported $1.72 EPS for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.55. IDEXX Laboratories had a net margin of 17.78% and a return on equity of 264.71%. The business had revenue of $637.20 million during the quarter, compared to analysts’ expectations of $589.98 million. During the same quarter in the prior year, the company earned $1.43 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities analysts expect that IDEXX Laboratories, Inc. will post 4.98 earnings per share for the current year.
In related news, VP Giovani Twigge sold 14,070 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $307.73, for a total value of $4,329,761.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan W. Ayers sold 13,600 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $286.07, for a total transaction of $3,890,552.00. Following the completion of the transaction, the director now directly owns 810,467 shares of the company’s stock, valued at $231,850,294.69. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,182 shares of company stock valued at $31,409,008. Company insiders own 2.53% of the company’s stock.
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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