964 Shares in IDEXX Laboratories, Inc. $IDXX Purchased by GC Wealth Management RIA LLC

Key Points

• GC Wealth Management RIA LLC purchased 964 shares of IDEXX Laboratories, Inc. for approximately $517,000 during the second quarter.
• Insider selling activity includes EVP Sharon E. Underberg selling 5,450 shares, and CEO Jonathan Jay Mazelsky selling 29,260 shares, indicating substantial decreases in their holdings.
• IDEXX Laboratories reported a 10.6% revenue increase year-over-year for the last quarter, with earnings per share surpassing analysts' expectations at $3.63.

GC Wealth Management RIA LLC bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 964 shares of the company's stock, valued at approximately $517,000.

Other hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in shares of IDEXX Laboratories in the second quarter worth about $29,000. MorganRosel Wealth Management LLC bought a new stake in IDEXX Laboratories during the first quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after acquiring an additional 30 shares during the last quarter. WPG Advisers LLC bought a new stake in IDEXX Laboratories during the first quarter worth approximately $37,000. Finally, Bank of Jackson Hole Trust increased its stake in IDEXX Laboratories by 328.6% during the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after acquiring an additional 69 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Sharon E. Underberg sold 5,450 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $651.60, for a total value of $3,551,220.00. Following the transaction, the executive vice president owned 6,156 shares of the company's stock, valued at $4,011,249.60. This represents a 46.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total value of $18,491,734.80. Following the completion of the transaction, the chief executive officer directly owned 83,311 shares in the company, valued at approximately $52,650,885.78. This trade represents a 25.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,057 shares of company stock valued at $34,293,468 over the last 90 days. 0.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IDXX. Leerink Partners boosted their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Stifel Nicolaus set a $640.00 price objective on IDEXX Laboratories in a research note on Monday, August 4th. Wall Street Zen cut IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Sunday. JPMorgan Chase & Co. boosted their price objective on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Finally, Jefferies Financial Group began coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $649.44.

IDEXX Laboratories Trading Up 1.3%

IDXX opened at $638.89 on Wednesday. The stock has a market cap of $51.11 billion, a price-to-earnings ratio of 53.20, a P/E/G ratio of 4.08 and a beta of 1.56. The stock's 50 day moving average price is $629.94 and its 200-day moving average price is $531.26. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $688.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 64.42% and a net margin of 24.41%.The company had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the firm earned $2.44 earnings per share. IDEXX Laboratories's revenue 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. On average, equities analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

IDEXX Laboratories 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.

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.