Oppenheimer Asset Management Inc. Raises Stock Position in IDEXX Laboratories, Inc. $IDXX

Oppenheimer Asset Management Inc. grew its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 193.0% during the second quarter, HoldingsChannel.com reports. The fund owned 33,628 shares of the company’s stock after purchasing an additional 22,150 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in IDEXX Laboratories were worth $18,036,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in IDXX. GAMMA Investing LLC raised its stake in shares of IDEXX Laboratories by 42.7% in the 1st quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock valued at $918,000 after acquiring an additional 654 shares during the period. Golden State Wealth Management LLC raised its stake in IDEXX Laboratories by 3,766.7% during the first quarter. Golden State Wealth Management LLC now owns 116 shares of the company’s stock worth $49,000 after acquiring an additional 113 shares during the period. Sequoia Financial Advisors LLC boosted its stake in IDEXX Laboratories by 15.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,937 shares of the company’s stock valued at $813,000 after purchasing an additional 252 shares during the period. PDS Planning Inc boosted its stake in IDEXX Laboratories by 3.9% during the 1st quarter. PDS Planning Inc now owns 641 shares of the company’s stock valued at $269,000 after purchasing an additional 24 shares during the period. Finally, Diversified Trust Co bought a new stake in IDEXX Laboratories during the 1st quarter valued at $633,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Michael Lane sold 8,411 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 7,132 shares in the company, valued at $4,477,041.68. This represents a 54.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nimrata Hunt sold 1,200 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was 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 approximately $11,034,299.71. The trade was a 6.66% decrease in their position. 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 currently owned by company insiders.

IDEXX Laboratories Trading Up 0.4%

IDEXX Laboratories stock opened at $640.85 on Friday. The company has a 50 day moving average price of $638.40 and a 200 day moving average price of $559.16. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $688.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The firm has a market capitalization of $51.27 billion, a price-to-earnings ratio of 53.36, a P/E/G ratio of 4.15 and a beta of 1.58.

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

Wall Street Analysts Forecast Growth

IDXX has been the topic of several research analyst reports. Leerink Partners raised their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a report on Monday, August 4th. Wall Street Zen cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 28th. Jefferies Financial Group began coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They issued a “buy” rating and a $625.00 price target on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. One 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $656.50.

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.