Stratos Wealth Partners LTD. Boosts Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Stratos Wealth Partners LTD. grew its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,051 shares of the company’s stock after acquiring an additional 18 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in IDEXX Laboratories were worth $564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the 1st quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new position in shares of IDEXX Laboratories in the 2nd quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of IDEXX Laboratories by 55.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock worth $35,000 after buying an additional 30 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of IDEXX Laboratories in the 2nd quarter worth about $36,000. Finally, WPG Advisers LLC purchased a new position in shares of IDEXX Laboratories in the 1st quarter worth about $37,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Trading Up 0.8%

Shares of IDXX opened at $638.60 on Friday. The business’s 50-day moving average price is $638.60 and its 200-day moving average price is $555.86. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12. The stock has a market cap of $51.09 billion, a PE ratio of 53.17, a P/E/G ratio of 4.10 and a beta of 1.58. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31.

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

Analysts Set New Price Targets

IDXX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Morgan Stanley boosted their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an “overweight” rating in a report on Friday, August 15th. Piper Sandler reissued a “neutral” rating and issued a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of IDEXX Laboratories in a report on Wednesday, October 8th. Finally, BTIG Research upped their price objective on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average price target of $656.50.

Insider Activity

In other news, EVP Sharon E. Underberg sold 5,450 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following 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 SEC, which is available at this link. Also, EVP Michael Lane sold 8,411 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total value of $5,279,921.14. Following the sale, the executive vice president owned 7,132 shares in the company, valued at approximately $4,477,041.68. This represents a 54.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Company 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.