PNC Financial Services Group Inc. trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,706 shares of the company’s stock after selling 74 shares during the quarter. PNC Financial Services Group Inc.’s holdings in IDEXX Laboratories were worth $9,135,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its stake in IDEXX Laboratories by 78.5% in the fourth quarter. Advisory Services Network LLC now owns 566 shares of the company’s stock valued at $148,000 after acquiring an additional 249 shares during the last quarter. Kovack Advisors Inc. boosted its stake in IDEXX Laboratories by 2.1% in the first quarter. Kovack Advisors Inc. now owns 9,261 shares of the company’s stock valued at $2,243,000 after acquiring an additional 193 shares during the last quarter. Citizens Financial Group Inc RI purchased a new position in IDEXX Laboratories in the fourth quarter valued at about $79,000. National Pension Service boosted its stake in IDEXX Laboratories by 1.8% in the fourth quarter. National Pension Service now owns 113,067 shares of the company’s stock valued at $29,525,000 after acquiring an additional 2,045 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new position in IDEXX Laboratories in the fourth quarter valued at about $247,000. Hedge funds and other institutional investors own 88.02% of the company’s stock.
A number of analysts recently commented on IDXX shares. TheStreet upgraded shares of IDEXX Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, April 30th. Stifel Nicolaus upped their price target on shares of IDEXX Laboratories from $266.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, May 1st. BidaskClub upgraded shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 8th. Finally, Zacks Investment Research cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a research note on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $290.71.
IDEXX Laboratories stock opened at $292.66 on Friday. The firm’s 50 day simple moving average is $270.58 and its 200 day simple moving average is $263.05. The company has a current ratio of 0.85, a quick ratio of 0.60 and a debt-to-equity ratio of 7.06. The firm has a market capitalization of $24.86 billion, a PE ratio of 58.53, a price-to-earnings-growth ratio of 5.78 and a beta of 0.80. IDEXX Laboratories, Inc. has a 1-year low of $168.65 and a 1-year high of $302.99.
IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, April 30th. The company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.09. The business had revenue of $626.30 million for the quarter, compared to analyst estimates of $616.87 million. IDEXX Laboratories had a net margin of 17.78% and a return on equity of 264.71%. IDEXX Laboratories’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 EPS. Research analysts forecast that IDEXX Laboratories, Inc. will post 4.91 earnings per share for the current year.
IDEXX Laboratories declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase 5,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
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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