IDEXX Laboratories, Inc. $IDXX Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC has significantly reduced its stake in IDEXX Laboratories, Inc. by 90.3%, now holding only 371 shares valued at $156,000.
• Other institutional investors, such as Mutual of America Capital Management LLC and Golden State Wealth Management LLC, have increased their holdings, with Mutual of America boosting ownership by 79.6%.
• IDEXX Laboratories recently reported $3.63 earnings per share for the quarter, exceeding expectations, along with a revenue of $1.11 billion.

AlphaQuest LLC lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 90.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 371 shares of the company's stock after selling 3,462 shares during the period. AlphaQuest LLC's holdings in IDEXX Laboratories were worth $156,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new position in shares of IDEXX Laboratories during the 1st quarter valued at about $26,000. Colonial Trust Co SC raised its position in shares of IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after buying an additional 39 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in IDEXX Laboratories by 55.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after purchasing an additional 30 shares during the period. Bank of Jackson Hole Trust raised its position in IDEXX Laboratories by 328.6% in the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after purchasing an additional 69 shares during the period. Finally, Retirement Wealth Solutions LLC raised its position in IDEXX Laboratories by 40.0% in the 1st quarter. Retirement Wealth Solutions LLC now owns 105 shares of the company's stock worth $44,000 after purchasing an additional 30 shares during the period. Institutional investors own 87.84% of the company's stock.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 2,187 shares of the company's stock in a transaction that occurred on 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 sale, the director directly owned 262 shares of the company's stock, valued at $169,600.46. This represents a 89.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nimrata Hunt sold 1,200 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $656.53, for a total transaction of $787,836.00. Following the sale, the executive vice president directly owned 16,807 shares in the company, valued at approximately $11,034,299.71. The trade was a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,057 shares of company stock worth $34,293,468. Insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on IDXX. BTIG Research upped their target price on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Piper Sandler reaffirmed a "neutral" rating and issued a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Leerink Partners lifted their price objective on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Morgan Stanley lifted their price objective on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. Finally, Jefferies Financial Group initiated coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $649.44.

IDEXX Laboratories Price Performance

IDXX traded up $7.22 on Friday, reaching $647.66. 120,660 shares of the company's stock were exchanged, compared to its average volume of 703,020. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. The stock has a market cap of $51.81 billion, a PE ratio of 53.93, a P/E/G ratio of 4.11 and a beta of 1.56. The stock's fifty day moving average price is $590.99 and its 200-day moving average price is $505.39. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. IDEXX Laboratories's revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

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.