Rise Advisors LLC Grows Holdings in IDEXX Laboratories, Inc. $IDXX

Rise Advisors LLC grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.9% during the second quarter, Holdings Channel.com reports. The fund owned 562 shares of the company’s stock after acquiring an additional 21 shares during the period. Rise Advisors LLC’s holdings in IDEXX Laboratories were worth $301,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new stake in IDEXX Laboratories during the 1st quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in IDEXX Laboratories by 55.6% during 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 period. WPG Advisers LLC purchased a new stake in IDEXX Laboratories during the 1st quarter worth approximately $37,000. Bank of Jackson Hole Trust increased its stake in IDEXX Laboratories by 328.6% during the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company’s stock worth $39,000 after buying an additional 69 shares during the period. Finally, Retirement Wealth Solutions LLC increased its stake in IDEXX Laboratories by 40.0% during the 1st quarter. Retirement Wealth Solutions LLC now owns 105 shares of the company’s stock worth $44,000 after buying an additional 30 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Nimrata Hunt sold 7,143 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total value of $4,503,161.49. Following the completion of the transaction, the executive vice president owned 18,007 shares in the company, valued at approximately $11,352,153.01. This represents a 28.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $631.98, for a total transaction of $18,491,734.80. Following the completion of the transaction, the chief executive officer owned 83,311 shares of the company’s stock, valued at approximately $52,650,885.78. The trade was a 25.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have 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 Down 0.6%

NASDAQ IDXX opened at $641.14 on Monday. 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, Inc. has a 52 week low of $356.14 and a 52 week high of $688.12. The stock has a market capitalization of $51.29 billion, a PE ratio of 53.38, a price-to-earnings-growth ratio of 4.15 and a beta of 1.56. The firm has a 50 day moving average of $603.59 and a two-hundred day moving average of $514.19.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business posted $2.44 EPS. The firm’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. As a group, research analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on IDXX shares. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They set a “buy” rating and a $625.00 target price on the stock. Leerink Partners upped their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. Morgan Stanley upped their target price on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an “overweight” rating in a research note on Friday, August 15th. Piper Sandler reaffirmed a “neutral” rating and set a $700.00 target price (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Finally, BTIG Research boosted their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.44.

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.