Evercore Wealth Management Lowers stake in IDEXX Laboratories (IDXX)

IDEXX Laboratories (IDXX) : Evercore Wealth Management reduced its stake in IDEXX Laboratories by 0.68% during the most recent quarter end. The investment management company now holds a total of 73,510 shares of IDEXX Laboratories which is valued at $7,936,875 after selling 500 shares in IDEXX Laboratories , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.IDEXX Laboratories makes up approximately 0.34% of Evercore Wealth Management’s portfolio.

Other Hedge Funds, Including , Tocqueville Asset Management boosted its stake in IDXX in the latest quarter, The investment management firm added 1,525 additional shares and now holds a total of 6,025 shares of IDEXX Laboratories which is valued at $565,085. IDEXX Laboratories makes up approx 0.01% of Tocqueville Asset Management’s portfolio. Lmr Partners Llp sold out all of its stake in IDXX during the most recent quarter. The investment firm sold 59,582 shares of IDXX which is valued $5,588,196. Gulf International Bank (uk) Ltd added IDXX to its portfolio by purchasing 25,850 company shares during the most recent quarter which is valued at $2,420,853. IDEXX Laboratories makes up approx 0.04% of Gulf International Bank (uk) Ltd’s portfolio.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 $107.18 and hit $108.5 on the upside on Thursday, eventually ending the session at $107.98, with a gain of 0.01% or 0.01 points. The heightened volatility saw the trading volume jump to 9,75,472 shares. Company has a market cap of $9,668 M.

On the company’s financial health, IDEXX Laboratories reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.62. The company had revenue of $466.56 million for the quarter, compared to analysts expectations of $445.57 million. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.

Many Wall Street Analysts have commented on IDEXX Laboratories. IDEXX Laboratories was Upgraded by Northcoast to ” Neutral” on Aug 3, 2016. 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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