IDEXX Laboratories, Inc. $IDXX Holdings Cut by SG Americas Securities LLC

SG Americas Securities LLC cut its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 62.3% in the 2nd quarter, Holdings Channel reports. The firm owned 52,280 shares of the company’s stock after selling 86,215 shares during the quarter. SG Americas Securities LLC’s holdings in IDEXX Laboratories were worth $28,040,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in IDXX. Opal Wealth Advisors LLC acquired a new position in IDEXX Laboratories during the 2nd quarter valued at approximately $29,000. Ameritas Advisory Services LLC bought a new stake in IDEXX Laboratories in the second quarter valued at $36,000. NewSquare Capital LLC boosted its holdings in shares of IDEXX Laboratories by 87.5% during the second quarter. NewSquare Capital LLC now owns 75 shares of the company’s stock valued at $40,000 after acquiring an additional 35 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock valued at $35,000 after acquiring an additional 30 shares during the period. Finally, WPG Advisers LLC bought a new position in shares of IDEXX Laboratories during the first quarter worth about $37,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Down 1.6%

IDEXX Laboratories stock opened at $689.93 on Friday. The firm has a 50 day simple moving average of $651.74 and a 200-day simple moving average of $587.72. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. The stock has a market capitalization of $55.09 billion, a PE ratio of 57.45, a price-to-earnings-growth ratio of 4.06 and a beta of 1.62. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $735.00.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Monday, November 3rd. The company reported $3.22 EPS for the quarter, topping the consensus estimate of $3.14 by $0.08. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. As a group, equities research analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director M Anne Szostak sold 2,187 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total value of $1,415,710.71. Following the completion of the sale, the director owned 262 shares in the company, valued at $169,600.46. This represents a 89.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Nimrata Hunt sold 9,425 shares of IDEXX Laboratories stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $703.34, for a total value of $6,628,979.50. Following the transaction, the executive vice president directly owned 21,149 shares in the company, valued at approximately $14,874,937.66. The trade was a 30.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on IDXX. Morgan Stanley lifted their price objective on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Weiss Ratings lowered shares of IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Piper Sandler reaffirmed a “neutral” rating and set a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Stifel Nicolaus set a $775.00 price objective on IDEXX Laboratories in a research report on Monday, November 3rd. Finally, Wall Street Zen upgraded IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $730.50.

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.