IDEXX Laboratories (IDXX) : Cortland Associates Incmo reduced its stake in IDEXX Laboratories by 70.61% during the most recent quarter end. The investment management company now holds a total of 58,528 shares of IDEXX Laboratories which is valued at $5,429,643 after selling 140,610 shares in IDEXX Laboratories , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.IDEXX Laboratories makes up approximately 1.19% of Cortland Associates Incmo’s portfolio.
Other Hedge Funds, Including , Daiwa Securities Group added IDXX to its portfolio by purchasing 2,200 company shares during the most recent quarter which is valued at $204,094.Parkwood reduced its stake in IDXX by selling 2,435 shares or 4.65% in the most recent quarter. The Hedge Fund company now holds 49,887 shares of IDXX which is valued at $4,711,328. IDEXX Laboratories makes up approx 0.77% of Parkwood’s portfolio. Rockefeller Financial Services Inc sold out all of its stake in IDXX during the most recent quarter. The investment firm sold 154 shares of IDXX which is valued $14,544.Lau Associates reduced its stake in IDXX by selling 3,050 shares or 13.38% in the most recent quarter. The Hedge Fund company now holds 19,752 shares of IDXX which is valued at $1,875,650. IDEXX Laboratories makes up approx 1.95% of Lau Associates’s portfolio.
IDEXX Laboratories opened for trading at $93.01 and hit $94.46 on the upside on Friday, eventually ending the session at $93.79, with a gain of 0.62% or 0.58 points. The heightened volatility saw the trading volume jump to 3,62,736 shares. Company has a market cap of $8,397 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 Jul 20, 2016 to “Buy”, Firm has raised the Price Target to $ 98 from a previous price target of $90 .
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.