Cribstone Capital Management Lowers stake in IDEXX Laboratories (IDXX)

IDEXX Laboratories (IDXX) : Cribstone Capital Management reduced its stake in IDEXX Laboratories by 1.91% during the most recent quarter end. The investment management company now holds a total of 14,738 shares of IDEXX Laboratories which is valued at $1,403,795 after selling 287 shares in IDEXX Laboratories , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.IDEXX Laboratories makes up approximately 0.87% of Cribstone Capital Management’s portfolio.

Other Hedge Funds, Including , North American Management Corp reduced its stake in IDXX by selling 16 shares or 0.16% in the most recent quarter. The Hedge Fund company now holds 9,681 shares of IDXX which is valued at $922,115. IDEXX Laboratories makes up approx 0.15% of North American Management Corp’s portfolio. Livforsakringsbolaget Skandia Omsesidigt added IDXX to its portfolio by purchasing 8,200 company shares during the most recent quarter which is valued at $768,832. IDEXX Laboratories makes up approx 0.03% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio.Franklin Street Advisors Inc Nc reduced its stake in IDXX by selling 2,825 shares or 5.31% in the most recent quarter. The Hedge Fund company now holds 50,366 shares of IDXX which is valued at $4,716,776. IDEXX Laboratories makes up approx 0.87% of Franklin Street Advisors Inc Nc’s portfolio.Howland Capital Management reduced its stake in IDXX by selling 2,723 shares or 0.91% in the most recent quarter. The Hedge Fund company now holds 295,725 shares of IDXX which is valued at $28,082,046. IDEXX Laboratories makes up approx 2.62% of Howland Capital Management’s portfolio.

IDEXX Laboratories opened for trading at $94.63 and hit $95.4699 on the upside on Wednesday, eventually ending the session at $95.25, with a gain of 1.27% or 1.19 points. The heightened volatility saw the trading volume jump to 3,34,913 shares. Company has a market cap of $8,528 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.

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