West Coast Financial buys $9,275,379 stake in IDEXX Laboratories (IDXX)

IDEXX Laboratories (IDXX) : West Coast Financial scooped up 973 additional shares in IDEXX Laboratories during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 85,907 shares of IDEXX Laboratories which is valued at $9,275,379.IDEXX Laboratories makes up approximately 3.23% of West Coast Financial’s portfolio.

Other Hedge Funds, Including , Mitsubishi Ufj Kokusai Asset Management Ltd. added IDXX to its portfolio by purchasing 12,600 company shares during the most recent quarter which is valued at $1,360,422. IDEXX Laboratories makes up approx 0.03% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.Quadrant Capital Group boosted its stake in IDXX in the latest quarter, The investment management firm added 26 additional shares and now holds a total of 64 shares of IDEXX Laboratories which is valued at $6,003. Strs Ohio added IDXX to its portfolio by purchasing 2,114 company shares during the most recent quarter which is valued at $196,116. 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.Bremer Trust National Association reduced its stake in IDXX by selling 56 shares or 1.19% in the most recent quarter. The Hedge Fund company now holds 4,663 shares of IDXX which is valued at $440,374. IDEXX Laboratories makes up approx 0.12% of Bremer Trust National Association’s portfolio.

IDEXX Laboratories closed down -0.43 points or -0.39% at $108.62 with 5,04,653 shares getting traded on Monday. Post opening the session at $108.8, the shares hit an intraday low of $108.27 and an intraday high of $109.365 and the price fluctuated in this range throughout the day.Shares ended Monday 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 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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