Waratah Capital Advisors Ltd. Trims Holdings in IDEXX Laboratories, Inc. $IDXX

Waratah Capital Advisors Ltd. cut its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 78.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,709 shares of the company’s stock after selling 98,084 shares during the quarter. Waratah Capital Advisors Ltd.’s holdings in IDEXX Laboratories were worth $14,861,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter worth approximately $29,000. Ameritas Advisory Services LLC acquired a new stake in shares of IDEXX Laboratories during the second quarter worth $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 worth $40,000 after purchasing an additional 35 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of IDEXX Laboratories by 55.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock valued at $35,000 after purchasing an additional 30 shares during the period. Finally, WPG Advisers LLC acquired a new position in IDEXX Laboratories in the first quarter valued at $37,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on IDXX shares. BTIG Research lifted their price target on IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. UBS Group boosted their target price on shares of IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Wall Street Zen raised shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Stifel Nicolaus set a $775.00 price target on shares of IDEXX Laboratories in a report on Monday, November 3rd. Finally, Jefferies Financial Group restated a “buy” rating and set a $830.00 price objective on shares of IDEXX Laboratories in a report on Tuesday, November 4th. One investment 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $730.50.

IDEXX Laboratories Price Performance

IDXX opened at $689.93 on Friday. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $735.00. The company has a 50 day moving average of $651.74 and a two-hundred day moving average of $588.77. The company has a market cap of $55.09 billion, a P/E ratio of 57.45, a P/E/G ratio of 4.06 and a beta of 1.62. 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 (NASDAQ:IDXX) last posted its earnings results on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.08. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the business posted $2.80 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. On average, analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Transactions at IDEXX Laboratories

In related news, Director M Anne Szostak sold 2,187 shares of the business’s stock in a transaction that occurred on 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 directly owned 262 shares of the company’s stock, valued at approximately $169,600.46. The trade was a 89.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Nimrata Hunt sold 9,425 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $703.34, for a total transaction of $6,628,979.50. Following the completion of the sale, the executive vice president directly owned 21,149 shares of the company’s stock, valued at $14,874,937.66. This trade represents a 30.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.98% of the company’s stock.

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.