Cortland Associates Incmo Lowers stake in IDEXX Laboratories (IDXX)

IDEXX Laboratories (IDXX) : Cortland Associates Incmo reduced its stake in IDEXX Laboratories by 0.74% during the most recent quarter end. The investment management company now holds a total of 199,138 shares of IDEXX Laboratories which is valued at $17,243,359 after selling 1,484 shares in IDEXX Laboratories , the firm said in a disclosure report filed with the SEC on May 3, 2016.IDEXX Laboratories makes up approximately 3.66% of Cortland Associates Incmo’s portfolio.

Other Hedge Funds, Including , Bluecrest Capital Management Ltd added IDXX to its portfolio by purchasing 20,080 company shares during the most recent quarter which is valued at $1,738,727. IDEXX Laboratories makes up approx 0.15% of Bluecrest Capital Management Ltd’s portfolio.Great West Life Assurance Co Can boosted its stake in IDXX in the latest quarter, The investment management firm added 1,344 additional shares and now holds a total of 10,468 shares of IDEXX Laboratories which is valued at $882,976.Louisiana State Employees Retirement System reduced its stake in IDXX by selling 200 shares or 0.8% in the most recent quarter. The Hedge Fund company now holds 24,900 shares of IDXX which is valued at $2,100,315. IDEXX Laboratories makes up approx 0.11% of Louisiana State Employees Retirement System’s portfolio.Btim Corp. reduced its stake in IDXX by selling 475 shares or 8.8% in the most recent quarter. The Hedge Fund company now holds 4,925 shares of IDXX which is valued at $399,467. IDEXX Laboratories makes up approx 0.01% of Btim Corp.’s portfolio.Davis R M Inc boosted its stake in IDXX in the latest quarter, The investment management firm added 3,430 additional shares and now holds a total of 286,857 shares of IDEXX Laboratories which is valued at $23,266,971. IDEXX Laboratories makes up approx 1.16% of Davis R M Inc’s portfolio.

IDEXX Laboratories opened for trading at $87.67 and hit $87.85 on the upside on Tuesday, eventually ending the session at $87.81, with a gain of 0.70% or 0.61 points. The heightened volatility saw the trading volume jump to 9,39,601 shares. Company has a market cap of $7,862 M.

On the company’s financial health, IDEXX Laboratories reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.47. The company had revenue of $418.00 million for the quarter, compared to analysts expectations of $404.20 million. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS.

Many Wall Street Analysts have commented on IDEXX Laboratories. Company shares were Reiterated by Canaccord Genuity on Apr 19, 2016 to “Buy”, Firm has raised the Price Target to $ 85 from a previous price target of $80 .IDEXX Laboratories was Initiated by CL King to “Neutral” on Apr 1, 2016. Company shares were Reiterated by Stifel on Mar 21, 2016 to “Buy”, Firm has raised the Price Target to $ 85 from a previous price target of $80 .

IDEXX Laboratories Inc. develops manufactures and distributes products and provides services primarily for the companion animal veterinary livestock and poultry water testing and dairy markets. The Company sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market. Its segments include Companion Animal Group (CAG) Water Livestock Poultry and Dairy and Other. Its Products and services include point-of-care veterinary diagnostic products; veterinary reference laboratory diagnostic and consulting services; practice management systems and services and digital imaging systems; biological materials testing laboratory animal diagnostic instruments and services; diagnostic health-monitoring and food safety testing products for livestock poultry and dairy; products that test water for microbiological contaminants and point-of-care electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.

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