Beaumont Financial Partners LLC Acquires New Stake in IDEXX Laboratories, Inc. (IDXX)

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Beaumont Financial Partners LLC acquired a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 865 shares of the company’s stock, valued at approximately $216,000.

Other institutional investors have also added to or reduced their stakes in the company. Fundsmith Equity Fund L.P. acquired a new stake in IDEXX Laboratories during the 2nd quarter valued at $965,278,000. Morgan Stanley grew its holdings in IDEXX Laboratories by 9.5% during the 2nd quarter. Morgan Stanley now owns 382,085 shares of the company’s stock valued at $83,271,000 after purchasing an additional 33,000 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in IDEXX Laboratories by 25.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 2,600 shares of the company’s stock valued at $567,000 after purchasing an additional 525 shares in the last quarter. Bank of Montreal Can grew its holdings in IDEXX Laboratories by 10.4% during the 3rd quarter. Bank of Montreal Can now owns 186,115 shares of the company’s stock valued at $46,466,000 after purchasing an additional 17,482 shares in the last quarter. Finally, Eqis Capital Management Inc. acquired a new stake in IDEXX Laboratories during the 2nd quarter valued at $2,610,000. 91.27% of the stock is owned by institutional investors.

In other IDEXX Laboratories news, CEO Jonathan W. Ayers sold 7,000 shares of the stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $247.33, for a total transaction of $1,731,310.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jacqueline Studer sold 11,619 shares of the stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $244.03, for a total transaction of $2,835,384.57. Following the transaction, the vice president now owns 17,034 shares in the company, valued at $4,156,807.02. The disclosure for this sale can be found here. Insiders have sold a total of 61,531 shares of company stock worth $15,075,322 over the last quarter. 2.56% of the stock is currently owned by insiders.

IDXX opened at $202.27 on Wednesday. The firm has a market cap of $17.74 billion, a P/E ratio of 61.67, a PEG ratio of 1.87 and a beta of 0.82. IDEXX Laboratories, Inc. has a twelve month low of $146.09 and a twelve month high of $256.22.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, November 1st. The company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.08. IDEXX Laboratories had a net margin of 15.19% and a negative return on equity of 994.76%. The business had revenue of $545.00 million during the quarter, compared to analyst estimates of $545.66 million. During the same period last year, the business earned $0.76 EPS. The business’s revenue was up 10.8% on a year-over-year basis. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 4.19 earnings per share for the current year.

A number of research firms recently weighed in on IDXX. Canaccord Genuity lowered their price target on shares of IDEXX Laboratories from $270.00 to $250.00 and set a “buy” rating for the company in a report on Monday. Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $274.00 price target for the company in a report on Thursday, August 2nd. Bank of America lowered their price target on shares of IDEXX Laboratories from $275.00 to $235.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Piper Jaffray Companies raised their price target on shares of IDEXX Laboratories to $236.00 and gave the company an “overweight” rating in a report on Wednesday, August 1st. Finally, Credit Suisse Group raised their price target on shares of IDEXX Laboratories from $255.00 to $259.00 and gave the company an “outperform” rating in a report on Friday, August 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. IDEXX Laboratories currently has an average rating of “Buy” and a consensus price target of $252.33.

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About IDEXX Laboratories

IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

See Also: Cash Flow

Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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