400 Shares in IDEXX Laboratories, Inc. $IDXX Bought by Genesis Wealth Advisors LLC

Key Points

• Genesis Wealth Advisors LLC acquired 400 shares of IDEXX Laboratories, worth approximately $215,000, marking a new position for the firm this quarter.
• Institutional investors now hold 87.84% of IDEXX Laboratories' stock, with notable stakes acquired by firms such as Retireful LLC and Mather Group LLC.
• IDEXX Laboratories' stock was recently upgraded to a "strong buy" by Wall Street Zen, with multiple analysts raising their price targets, reflecting positive sentiment in the market.

Genesis Wealth Advisors LLC bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 400 shares of the company's stock, valued at approximately $215,000.

Other institutional investors have also added to or reduced their stakes in the company. Retireful LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at about $288,000. TD Private Client Wealth LLC raised its stake in IDEXX Laboratories by 57.3% in the second quarter. TD Private Client Wealth LLC now owns 225 shares of the company's stock valued at $121,000 after purchasing an additional 82 shares in the last quarter. Mather Group LLC. lifted its position in IDEXX Laboratories by 92.4% during the second quarter. Mather Group LLC. now owns 1,462 shares of the company's stock valued at $784,000 after purchasing an additional 702 shares during the last quarter. Pine Haven Investment Counsel Inc grew its stake in IDEXX Laboratories by 4.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 1,205 shares of the company's stock worth $646,000 after buying an additional 50 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of IDEXX Laboratories by 3.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 27,716 shares of the company's stock worth $14,865,000 after buying an additional 1,041 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Michael Lane sold 8,411 shares of the company's stock in a transaction on 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 completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sharon E. Underberg sold 5,450 shares of the stock in a transaction 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. The trade was a 46.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,057 shares of company stock valued at $34,293,468 over the last quarter. Company insiders own 0.98% of the company's stock.

Analysts Set New Price Targets

IDXX has been the subject of several research reports. Wall Street Zen upgraded shares of IDEXX Laboratories from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 20th. Leerink Partners lifted their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. increased their price objective on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Piper Sandler reissued a "neutral" rating and set a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Finally, BTIG Research boosted their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $649.44.

IDEXX Laboratories Stock Down 3.3%

IDXX opened at $627.17 on Thursday. The company has a market cap of $50.17 billion, a P/E ratio of 52.22, a P/E/G ratio of 4.20 and a beta of 1.56. The business's 50-day moving average price is $621.26 and its 200-day moving average price is $524.68. 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 - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.35. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.IDEXX Laboratories's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, equities analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS 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.

Want to see what other hedge funds are holding IDXX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.