Beck Mack & Oliver LLC Reduces Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Beck Mack & Oliver LLC reduced its stake in IDEXX Laboratories, Inc. by 42.6%, owning 1,200 shares worth $504,000 after selling 892 shares during the first quarter.
• IDEXX Laboratories reported strong quarterly earnings, with a net revenue of $1.11 billion and an earnings per share (EPS) of $3.63, exceeding analysts' estimates.
• Various institutional investors made adjustments to their holdings in IDEXX, including Cura Wealth Advisors LLC which increased its stake by 1% to 8,116 shares valued at $3.4 million.

Beck Mack & Oliver LLC lessened its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 42.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,200 shares of the company's stock after selling 892 shares during the quarter. Beck Mack & Oliver LLC's holdings in IDEXX Laboratories were worth $504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of IDXX. Cura Wealth Advisors LLC boosted its holdings in IDEXX Laboratories by 1.0% in the 1st quarter. Cura Wealth Advisors LLC now owns 8,116 shares of the company's stock worth $3,408,000 after buying an additional 77 shares during the period. Brasada Capital Management LP lifted its position in shares of IDEXX Laboratories by 11.2% during the first quarter. Brasada Capital Management LP now owns 32,837 shares of the company's stock worth $13,790,000 after acquiring an additional 3,314 shares in the last quarter. Vident Advisory LLC boosted its holdings in shares of IDEXX Laboratories by 35.3% in the first quarter. Vident Advisory LLC now owns 2,745 shares of the company's stock worth $1,153,000 after acquiring an additional 716 shares during the period. Gordian Capital Singapore Pte Ltd purchased a new position in shares of IDEXX Laboratories in the first quarter valued at $312,000. Finally, WPG Advisers LLC bought a new stake in shares of IDEXX Laboratories during the 1st quarter valued at $37,000. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock opened at $647.09 on Friday. The firm has a market capitalization of $51.77 billion, a PE ratio of 53.88, a price-to-earnings-growth ratio of 4.19 and a beta of 1.49. 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 12 month low of $356.14 and a 12 month high of $688.12. The business's 50-day moving average price is $582.04 and its 200-day moving average price is $500.48.

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, beating analysts' consensus estimates of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the company earned $2.44 EPS. The firm's revenue was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Activity

In related news, EVP Nimrata Hunt sold 7,143 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the transaction, the executive vice president directly owned 18,007 shares in the company, valued at $11,352,153.01. This trade represents a 28.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the executive vice president owned 6,156 shares of the company's stock, valued at $4,011,249.60. The trade was a 46.96% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,057 shares of company stock valued at $34,293,468. Company insiders own 0.98% of the company's stock.

Analysts Set New Price Targets

IDXX has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $640.00 price target on shares of IDEXX Laboratories in a report on Monday, August 4th. Morgan Stanley lifted their price objective on IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research note on Friday, August 15th. Piper Sandler restated a "neutral" rating and issued a $700.00 target price (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Leerink Partners lifted their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.

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