IDEXX Laboratories, Inc. $IDXX Shares Purchased by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC lifted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,528 shares of the company’s stock after acquiring an additional 158 shares during the quarter. Sax Wealth Advisors LLC’s holdings in IDEXX Laboratories were worth $820,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC purchased a new stake in IDEXX Laboratories during the second quarter worth $630,000. Shell Asset Management Co. boosted its holdings in IDEXX Laboratories by 122.6% during the second quarter. Shell Asset Management Co. now owns 3,777 shares of the company’s stock worth $2,026,000 after buying an additional 2,080 shares in the last quarter. HTG Investment Advisors Inc. purchased a new stake in IDEXX Laboratories during the second quarter worth $217,000. KLP Kapitalforvaltning AS boosted its holdings in IDEXX Laboratories by 3.1% during the second quarter. KLP Kapitalforvaltning AS now owns 39,600 shares of the company’s stock worth $21,239,000 after buying an additional 1,200 shares in the last quarter. Finally, Eads & Heald Wealth Management boosted its holdings in IDEXX Laboratories by 10.8% during the second quarter. Eads & Heald Wealth Management now owns 2,645 shares of the company’s stock worth $1,419,000 after buying an additional 257 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Sharon E. Underberg sold 5,450 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $651.60, for a total value of $3,551,220.00. Following the completion of the sale, the executive vice president directly owned 6,156 shares in the company, valued at $4,011,249.60. This represents a 46.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nimrata Hunt sold 1,200 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $656.53, for a total transaction of $787,836.00. Following the completion of the sale, the executive vice president owned 16,807 shares of the company’s stock, valued at $11,034,299.71. This trade represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,057 shares of company stock valued at $34,293,468. Corporate insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Leerink Partners increased their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. UBS Group assumed coverage on shares of IDEXX Laboratories in a report on Wednesday, October 1st. They set a “neutral” rating and a $720.00 price target on the stock. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a “buy” rating and a $625.00 price target on the stock. Piper Sandler reissued a “neutral” rating and set a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $656.50.

IDEXX Laboratories Stock Performance

IDXX opened at $629.91 on Thursday. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The company has a market cap of $50.40 billion, a price-to-earnings ratio of 52.45, a PEG ratio of 4.06 and a beta of 1.58. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The firm’s fifty day simple moving average is $637.99 and its two-hundred day simple moving average is $539.07.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.35. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

About IDEXX Laboratories

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.