Amundi Sells 35,558 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Amundi has reduced its stake in IDEXX Laboratories, Inc. by 4.7%, retaining 723,111 shares valued at approximately $297.03 million as of the latest quarter.
• The company reported a 10.6% increase in quarterly revenue year-over-year, with earnings per share at $3.63, surpassing analysts' expectations.
• Insider activity includes significant sales by CEO Jonathan Jay Mazelsky and Director M Anne Szostak, collectively leading to a notable decrease in their ownership stakes.

Amundi cut its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 4.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 723,111 shares of the company's stock after selling 35,558 shares during the quarter. Amundi owned approximately 0.90% of IDEXX Laboratories worth $297,025,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of IDXX. MorganRosel Wealth Management LLC acquired a new stake in IDEXX Laboratories in the 1st quarter worth $26,000. Colonial Trust Co SC lifted its holdings 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 worth $35,000 after acquiring an additional 39 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of IDEXX Laboratories by 55.6% during the 1st 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 period. WPG Advisers LLC bought a new position in shares of IDEXX Laboratories during the 1st quarter worth about $37,000. Finally, Bank of Jackson Hole Trust lifted its holdings in shares of IDEXX Laboratories by 328.6% during the 1st 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 period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Sharon E. Underberg sold 5,450 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $651.60, for a total value of $3,551,220.00. Following the completion of the transaction, the executive vice president directly owned 6,156 shares in the company, valued at approximately $4,011,249.60. The trade was a 46.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director M Anne Szostak sold 2,187 shares of the business'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 completion of the transaction, the director owned 262 shares of the company's stock, valued at $169,600.46. The trade was a 89.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Stock Performance

IDXX stock traded up $9.84 during trading hours on Monday, reaching $652.83. The stock had a trading volume of 458,109 shares, compared to its average volume of 703,113. The stock has a market capitalization of $52.23 billion, a PE ratio of 54.36, a price-to-earnings-growth ratio of 4.16 and a beta of 1.56. 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 50-day simple moving average of $593.22 and a 200 day simple moving average of $507.49. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week 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 (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 24.41% and a return on equity of 64.42%. IDEXX Laboratories's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.