First Republic Investment Management Lowers stake in IDEXX Laboratories (IDXX)

IDEXX Laboratories (IDXX) : First Republic Investment Management reduced its stake in IDEXX Laboratories by 3.37% during the most recent quarter end. The investment management company now holds a total of 310,047 shares of IDEXX Laboratories which is valued at $34,347,007 after selling 10,803 shares in IDEXX Laboratories , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.IDEXX Laboratories makes up approximately 0.32% of First Republic Investment Management’s portfolio.

Other Hedge Funds, Including , Carderock Capital Management Inc reduced its stake in IDXX by selling 1,916 shares or 3.19% in the most recent quarter. The Hedge Fund company now holds 58,196 shares of IDXX which is valued at $6,446,953. IDEXX Laboratories makes up approx 3.34% of Carderock Capital Management Inc’s portfolio.Liberty Mutual Group Asset Management boosted its stake in IDXX in the latest quarter, The investment management firm added 2,836 additional shares and now holds a total of 38,912 shares of IDEXX Laboratories which is valued at $4,310,671. IDEXX Laboratories makes up approx 0.16% of Liberty Mutual Group Asset Management’s portfolio. Chicago Equity Partners added IDXX to its portfolio by purchasing 22,525 company shares during the most recent quarter which is valued at $2,112,620. IDEXX Laboratories makes up approx 0.06% of Chicago Equity Partners’s portfolio. 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.

IDEXX Laboratories opened for trading at $113.01 and hit $113.89 on the upside on Thursday, eventually ending the session at $113.16, with a gain of 0.43% or 0.48 points. The heightened volatility saw the trading volume jump to 3,85,749 shares. Company has a market cap of $10,132 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. Company shares were Reiterated by Stifel on Aug 16, 2016 to “Buy”, Firm has raised the Price Target to $ 125 from a previous price target of $120 .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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