Bayforest Capital Ltd Sells 264 Shares of IDEXX Laboratories, Inc. $IDXX

Bayforest Capital Ltd decreased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 53.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 232 shares of the company’s stock after selling 264 shares during the quarter. Bayforest Capital Ltd’s holdings in IDEXX Laboratories were worth $124,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new stake in IDEXX Laboratories during the first quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new position in shares of IDEXX Laboratories during the 2nd quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in 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 stake in IDEXX Laboratories in the second quarter worth approximately $36,000. Finally, WPG Advisers LLC bought a new position in IDEXX Laboratories during the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Down 0.3%

NASDAQ:IDXX opened at $635.40 on Friday. The company has a 50-day moving average price of $639.99 and a 200-day moving average price of $549.35. The stock has a market cap of $50.84 billion, a price-to-earnings ratio of 52.91, a P/E/G ratio of 4.13 and a beta of 1.58. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX) last announced its 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. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates 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 was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.44 EPS. 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 EPS for the current year.

Insider Transactions at IDEXX Laboratories

In other news, Director M Anne Szostak sold 2,187 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $647.33, for a total value of $1,415,710.71. Following the transaction, the director owned 262 shares in the company, valued at approximately $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 accessible through this link. Also, EVP Sharon E. Underberg sold 5,450 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were 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 of the company’s stock, valued at $4,011,249.60. This trade represents a 46.96% 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 valued at $34,293,468. 0.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

IDXX has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a “buy” rating and a $625.00 price objective for the company. Piper Sandler restated a “neutral” rating and set a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Stifel Nicolaus set a $640.00 price objective on IDEXX Laboratories in a report on Monday, August 4th. Wall Street Zen lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 28th. Finally, Morgan Stanley boosted their price objective on IDEXX Laboratories from $722.00 to $765.00 and gave the company an “overweight” rating in a research report on Friday, August 15th. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $656.50.

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.