Bourne Lent Asset Management Inc Lowers stake in IDEXX Laboratories (IDXX)

IDEXX Laboratories (IDXX) : Bourne Lent Asset Management Inc reduced its stake in IDEXX Laboratories by 1.25% during the most recent quarter end. The investment management company now holds a total of 103,070 shares of IDEXX Laboratories which is valued at $9,561,804 after selling 1,300 shares in IDEXX Laboratories , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.IDEXX Laboratories makes up approximately 7.07% of Bourne Lent Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Shell Asset Management Co added IDXX to its portfolio by purchasing 7,601 company shares during the most recent quarter which is valued at $705,145. IDEXX Laboratories makes up approx 0.02% of Shell Asset Management Co’s portfolio.Biondo Investment Advisors reduced its stake in IDXX by selling 1,110 shares or 1.32% in the most recent quarter. The Hedge Fund company now holds 82,691 shares of IDXX which is valued at $7,809,338. IDEXX Laboratories makes up approx 2.67% of Biondo Investment Advisors’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.

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