First Hawaiian Bank Acquires New Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

First Hawaiian Bank acquired a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,410 shares of the company’s stock, valued at approximately $1,713,000.

Other institutional investors also recently added to or reduced their stakes in the company. Avalon Trust Co acquired a new stake in IDEXX Laboratories in the first quarter worth about $25,000. Altshuler Shaham Ltd acquired a new stake in IDEXX Laboratories in the fourth quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in IDEXX Laboratories in the first quarter worth about $28,000. Resurgent Financial Advisors LLC acquired a new stake in IDEXX Laboratories in the fourth quarter worth about $31,000. Finally, Pacifica Partners Inc. acquired a new stake in IDEXX Laboratories in the first quarter worth about $33,000. Institutional investors own 86.85% of the company’s stock.

IDEXX Laboratories Stock Down 2.5 %

Shares of IDXX stock opened at $450.69 on Friday. The stock has a 50 day moving average of $511.69 and a 200 day moving average of $490.61. The company has a current ratio of 1.33, a quick ratio of 0.89 and a debt-to-equity ratio of 0.64. The stock has a market cap of $37.41 billion, a P/E ratio of 47.84, a P/E/G ratio of 2.66 and a beta of 1.20. IDEXX Laboratories, Inc. has a twelve month low of $317.06 and a twelve month high of $564.73.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.24. The company had revenue of $943.63 million during the quarter, compared to analysts’ expectations of $927.84 million. IDEXX Laboratories had a return on equity of 104.84% and a net margin of 22.52%. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 9.82 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Stifel Nicolaus decreased their target price on IDEXX Laboratories from $525.00 to $500.00 and set a “hold” rating for the company in a report on Friday. Atlantic Securities downgraded IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $610.00 target price for the company. in a report on Wednesday, August 2nd. Morgan Stanley lifted their target price on IDEXX Laboratories from $590.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. JPMorgan Chase & Co. lifted their target price on IDEXX Laboratories from $550.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. Finally, StockNews.com assumed coverage on IDEXX Laboratories in a report on Thursday, August 17th. They set a “buy” rating for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $571.67.

Insider Activity

In other news, EVP James F. Polewaczyk sold 22,909 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $510.56, for a total value of $11,696,419.04. Following the completion of the sale, the executive vice president now directly owns 10,038 shares in the company, valued at $5,125,001.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jonathan Jay Mazelsky sold 13,424 shares of IDEXX Laboratories stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $512.01, for a total value of $6,873,222.24. Following the sale, the chief executive officer now directly owns 72,925 shares of the company’s stock, valued at $37,338,329.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James F. Polewaczyk sold 22,909 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $510.56, for a total value of $11,696,419.04. Following the completion of the sale, the executive vice president now directly owns 10,038 shares in the company, valued at $5,125,001.28. The disclosure for this sale can be found here. Insiders sold 52,360 shares of company stock worth $26,743,411 over the last three months. 2.11% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Profile

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.