IDEXX Laboratories, Inc. $IDXX Shares Sold by Cortland Associates Inc. MO

Cortland Associates Inc. MO cut its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,675 shares of the company’s stock after selling 19 shares during the quarter. IDEXX Laboratories comprises about 0.4% of Cortland Associates Inc. MO’s investment portfolio, making the stock its 28th largest position. Cortland Associates Inc. MO’s holdings in IDEXX Laboratories were worth $3,044,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the 1st quarter worth $26,000. Opal Wealth Advisors LLC acquired a new position in shares of IDEXX Laboratories during the 2nd quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of 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 purchasing an additional 30 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of IDEXX Laboratories during the 2nd quarter worth $36,000. Finally, WPG Advisers LLC acquired a new position in shares of IDEXX Laboratories during the 1st quarter worth $37,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. BTIG Research upped their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Morgan Stanley increased their price objective on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an “overweight” rating in a research note on Friday, August 15th. Wall Street Zen cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 28th. JPMorgan Chase & Co. increased their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Finally, Piper Sandler reissued a “neutral” rating and issued a $700.00 price objective (up 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 given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $656.50.

Insider Activity at IDEXX Laboratories

In other news, EVP Michael Lane sold 8,411 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 7,132 shares in the company, valued at $4,477,041.68. This represents a 54.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director M Anne Szostak sold 2,187 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the transaction, the director owned 262 shares in the company, valued at approximately $169,600.46. The trade was a 89.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,057 shares of company stock worth $34,293,468 over the last three months. Company insiders own 0.98% of the company’s stock.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $627.28 on Wednesday. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $688.12. The stock has a market capitalization of $50.18 billion, a P/E ratio of 52.23, a P/E/G ratio of 4.07 and a beta of 1.58. The firm’s 50-day moving average is $636.83 and its two-hundred day moving average is $538.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results 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. 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 for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the company earned $2.44 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

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.