Spinnaker Trust Reduces Holdings in IDEXX Laboratories, Inc. $IDXX

Spinnaker Trust reduced its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,411 shares of the company’s stock after selling 450 shares during the quarter. Spinnaker Trust’s holdings in IDEXX Laboratories were worth $2,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Savvy Advisors Inc. purchased a new position in IDEXX Laboratories during the 2nd quarter valued at about $615,000. Assetmark Inc. increased its holdings in IDEXX Laboratories by 22.3% during the 2nd quarter. Assetmark Inc. now owns 64,785 shares of the company’s stock valued at $34,747,000 after acquiring an additional 11,830 shares in the last quarter. Premier Path Wealth Partners LLC purchased a new position in IDEXX Laboratories during the 2nd quarter valued at about $213,000. Hantz Financial Services Inc. lifted its holdings in IDEXX Laboratories by 307.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 32,641 shares of the company’s stock valued at $17,507,000 after purchasing an additional 24,633 shares in the last quarter. Finally, Arkadios Wealth Advisors purchased a new position in IDEXX Laboratories in the 2nd quarter valued at about $405,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $627.66 on Thursday. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $50.22 billion, a price-to-earnings ratio of 52.26, a PEG ratio of 4.11 and a beta of 1.58. The firm has a 50-day moving average of $638.30 and a two-hundred day moving average of $565.46.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.06 billion. During the same period in the prior year, the company earned $2.44 EPS. IDEXX Laboratories’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, analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 2,187 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the completion of the sale, the director directly owned 262 shares of the company’s stock, valued at approximately $169,600.46. This represents a 89.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael G. Erickson sold 406 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total transaction of $263,883.76. Following the sale, the executive vice president directly owned 11,287 shares of the company’s stock, valued at $7,336,098.52. This represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 54,057 shares of company stock valued at $34,293,468. Corporate insiders own 0.98% of the company’s stock.

Wall Street Analyst Weigh In

IDXX has been the topic of a number of recent research reports. UBS Group initiated coverage on shares of IDEXX Laboratories in a report on Wednesday, October 1st. They issued a “neutral” rating and a $720.00 target price on the stock. Wall Street Zen lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 28th. BTIG Research upped their target price on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a report on Monday, August 4th. Finally, Leerink Partners increased their price objective on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued 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 an average price target of $656.50.

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.