IDEXX Laboratories, Inc. $IDXX Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. significantly reduced its stake in IDEXX Laboratories by 85.3%, selling over 1 million shares and now holding only 181,892 shares valued at approximately $76.4 million.
• IDEXX Laboratories reported a strong quarterly earnings performance, with $3.63 EPS, surpassing analysts' expectations, and a 10.6% year-over-year revenue increase to $1.11 billion.
• Several analysts have upgraded IDEXX's stock rating, with price target increases from firms such as JPMorgan Chase & Co. raising it to $675.00 and Piper Sandler to $700.00.

Alliancebernstein L.P. cut its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 85.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 181,892 shares of the company's stock after selling 1,057,328 shares during the quarter. Alliancebernstein L.P. owned 0.23% of IDEXX Laboratories worth $76,386,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IDXX. MorganRosel Wealth Management LLC purchased a new position in IDEXX Laboratories during the 1st quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings 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 purchasing an additional 30 shares in the last quarter. Colonial Trust Co SC raised its holdings in IDEXX Laboratories by 84.8% during the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after purchasing an additional 39 shares in the last quarter. WPG Advisers LLC purchased a new stake in IDEXX Laboratories in the 1st quarter valued at approximately $37,000. Finally, Bank of Jackson Hole Trust boosted its holdings in IDEXX Laboratories by 328.6% in the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock valued at $39,000 after purchasing an additional 69 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX traded down $4.02 during trading on Friday, reaching $641.14. The company had a trading volume of 317,919 shares, compared to its average volume of 372,779. 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 twelve month low of $356.14 and a twelve month high of $688.12. The stock has a 50-day moving average price of $603.59 and a two-hundred day moving average price of $513.29. The stock has a market capitalization of $51.29 billion, a PE ratio of 53.38, a price-to-earnings-growth ratio of 4.18 and a beta of 1.56.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced 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 firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IDXX. Morgan Stanley increased their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. Leerink Partners increased their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. upped their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. 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. According to MarketBeat.com, IDEXX Laboratories presently has an average rating of "Moderate Buy" and an average price target of $649.44.

Insiders Place Their Bets

In related news, EVP Nimrata Hunt sold 7,143 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the transaction, the executive vice president owned 18,007 shares of the company's stock, valued at approximately $11,352,153.01. This represents a 28.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, August 6th. The stock was 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 of the company's stock, valued at $4,477,041.68. The trade was a 54.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is currently owned by insiders.

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.