Oak Ridge Investments LLC Lowers Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Oak Ridge Investments LLC lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 13.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,517 shares of the company’s stock after selling 229 shares during the period. Oak Ridge Investments LLC’s holdings in IDEXX Laboratories were worth $814,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in IDEXX Laboratories by 1.5% during the first quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company’s stock valued at $4,139,001,000 after buying an additional 146,427 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in IDEXX Laboratories by 71.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company’s stock valued at $835,244,000 after buying an additional 825,965 shares during the last quarter. Invesco Ltd. raised its stake in IDEXX Laboratories by 0.5% during the first quarter. Invesco Ltd. now owns 1,166,406 shares of the company’s stock valued at $489,832,000 after buying an additional 5,418 shares during the last quarter. Principal Financial Group Inc. raised its stake in IDEXX Laboratories by 58.3% during the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company’s stock valued at $472,865,000 after buying an additional 414,802 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in IDEXX Laboratories by 37.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,429 shares of the company’s stock valued at $452,046,000 after buying an additional 290,551 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Michael Lane sold 8,411 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the completion of the sale, the executive vice president directly owned 7,132 shares in the company, valued at approximately $4,477,041.68. The trade was a 54.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael G. Erickson sold 406 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total transaction of $263,883.76. Following the sale, the executive vice president owned 11,287 shares of the company’s stock, valued at approximately $7,336,098.52. This represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Leerink Partners lifted their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. UBS Group assumed coverage on shares of IDEXX Laboratories in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $720.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a “buy” rating and a $625.00 target price on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of IDEXX Laboratories in a research note on Wednesday, October 8th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $700.00 target price (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $656.50.

IDEXX Laboratories Trading Down 2.0%

Shares of IDXX stock opened at $616.15 on Monday. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $688.12. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $641.49 and its 200 day moving average is $543.56. The stock has a market capitalization of $49.29 billion, a P/E ratio of 51.30, a P/E/G ratio of 3.99 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Monday, August 4th. The company reported $3.63 earnings per share 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 analyst estimates 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 previous year, the business earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

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 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.