Lau Associates Lowers stake in IDEXX Laboratories (IDXX)

IDEXX Laboratories (IDXX) : Lau Associates reduced its stake in IDEXX Laboratories by 12.66% during the most recent quarter end. The investment management company now holds a total of 17,252 shares of IDEXX Laboratories which is valued at $1,948,096 after selling 2,500 shares in IDEXX Laboratories , the firm said in a disclosure report filed with the SEC on Oct 3, 2016.IDEXX Laboratories makes up approximately 1.99% of Lau Associates’s portfolio.

Other Hedge Funds, Including ,

IDEXX Laboratories closed down -0.19 points or -0.17% at $112.93 with 5,79,428 shares getting traded on Tuesday. Post opening the session at $112.92, the shares hit an intraday low of $112.22 and an intraday high of $113.81 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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 Resumed by BofA/Merrill to “Neutral” on Sep 29, 2016. 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.

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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