Bridgecreek Investment Management Lowers stake in IDEXX Laboratories (IDXX)

IDEXX Laboratories (IDXX) : Bridgecreek Investment Management reduced its stake in IDEXX Laboratories by 4.71% during the most recent quarter end. The investment management company now holds a total of 85,680 shares of IDEXX Laboratories which is valued at $7.4 Million after selling 4,235 shares in IDEXX Laboratories , the firm said in a disclosure report filed with the SEC on May 13, 2016.IDEXX Laboratories makes up approximately 2.38% of Bridgecreek Investment Management’s portfolio.

Other Hedge Funds, Including , Brown Advisory Inc boosted its stake in IDXX in the latest quarter, The investment management firm added 12,313 additional shares and now holds a total of 736,041 shares of IDEXX Laboratories which is valued at $63.8 Million. IDEXX Laboratories makes up approx 0.22% of Brown Advisory Inc’s portfolio.Artemis Investment Management Llp reduced its stake in IDXX by selling 209 shares or 0.68% in the most recent quarter. The Hedge Fund company now holds 30,524 shares of IDXX which is valued at $2.6 Million. IDEXX Laboratories makes up approx 0.07% of Artemis Investment Management Llp’s portfolio.Ifp Advisors Inc boosted its stake in IDXX in the latest quarter, The investment management firm added 46 additional shares and now holds a total of 1,019 shares of IDEXX Laboratories which is valued at $88,235. IDEXX Laboratories makes up approx 0.01% of Ifp Advisors Inc’s portfolio.

IDEXX Laboratories closed down -0.14 points or -0.16% at $90.08 with 5,93,375 shares getting traded on Wednesday. Post opening the session at $90.8, the shares hit an intraday low of $89.7 and an intraday high of $91.38 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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