Ameriprise Financial Inc. Has $56.25 Million Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Ameriprise Financial Inc. increased its holdings in IDEXX Laboratories by 12.9%, owning approximately 133,941 shares valued at $56.25 million as of their latest SEC filing.
• Analysts have set a consensus target price of $649.44 for IDEXX Laboratories, with several upgrades from firms including Piper Sandler, Jefferies Financial Group, and Morgan Stanley.
• Insider selling reached a significant level with two executives offloading a total of 10,598 shares, indicating a noteworthy decrease in their holdings.

Ameriprise Financial Inc. grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 12.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 133,941 shares of the company's stock after purchasing an additional 15,340 shares during the period. Ameriprise Financial Inc. owned about 0.17% of IDEXX Laboratories worth $56,245,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sage Mountain Advisors LLC boosted its stake in shares of IDEXX Laboratories by 3.8% in the 1st quarter. Sage Mountain Advisors LLC now owns 635 shares of the company's stock valued at $267,000 after purchasing an additional 23 shares in the last quarter. PDS Planning Inc boosted its stake in shares of IDEXX Laboratories by 3.9% in the 1st quarter. PDS Planning Inc now owns 641 shares of the company's stock valued at $269,000 after purchasing an additional 24 shares in the last quarter. King Luther Capital Management Corp boosted its stake in shares of IDEXX Laboratories by 0.5% in the 1st quarter. King Luther Capital Management Corp now owns 4,896 shares of the company's stock valued at $2,056,000 after purchasing an additional 24 shares in the last quarter. Bigelow Investment Advisors LLC boosted its stake in shares of IDEXX Laboratories by 1.9% in the 1st quarter. Bigelow Investment Advisors LLC now owns 1,420 shares of the company's stock valued at $596,000 after purchasing an additional 27 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its stake in shares of IDEXX Laboratories by 1.3% in the 1st quarter. Wedbush Securities Inc. now owns 2,145 shares of the company's stock valued at $901,000 after purchasing an additional 28 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. 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. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target for the company. Morgan Stanley lifted their price target on IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a report on Friday, August 15th. Wall Street Zen raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Finally, Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $649.44.

Insider Activity

In other news, Director M Anne Szostak sold 2,187 shares of the business's stock in a transaction dated 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 completion of the transaction, the director directly owned 262 shares in the company, valued at approximately $169,600.46. The trade was a 89.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Lane sold 8,411 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total value of $5,279,921.14. Following the transaction, the executive vice president 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. In the last three months, insiders sold 54,057 shares of company stock worth $34,293,468. Corporate insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $640.86 on Thursday. The stock has a market capitalization of $51.27 billion, a P/E ratio of 53.36, a P/E/G ratio of 4.16 and a beta of 1.49. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $577.03 and a two-hundred day moving average price of $497.66.

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 for the quarter, topping the consensus estimate of $3.28 by $0.35. The firm 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%.The company's quarterly revenue was up 10.6% compared to the same quarter last year. 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. Equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share 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.

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