Blue Zone Wealth Advisors LLC Acquires 556 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Blue Zone Wealth Advisors LLC increased its stake in IDEXX Laboratories, acquiring an additional 556 shares, bringing its total holdings to 11,857 shares valued at approximately $6.36 million.
• Several large institutional investors like Vanguard Group and Price T Rowe Associates have also boosted their positions in IDEXX, with Vanguard owning over 9.85 million shares.
• IDEXX Laboratories reported strong earnings, with $3.63 EPS for the last quarter, exceeding estimates, and has set a FY 2025 guidance of 12.400-12.760 EPS.

Blue Zone Wealth Advisors LLC lifted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 4.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,857 shares of the company's stock after purchasing an additional 556 shares during the period. IDEXX Laboratories accounts for about 1.6% of Blue Zone Wealth Advisors LLC's portfolio, making the stock its 25th largest position. Blue Zone Wealth Advisors LLC's holdings in IDEXX Laboratories were worth $6,359,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of IDEXX Laboratories by 1.5% during the first quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company's stock worth $4,139,001,000 after purchasing an additional 146,427 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of IDEXX Laboratories by 71.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock worth $835,244,000 after purchasing an additional 825,965 shares during the last quarter. Invesco Ltd. grew its holdings in shares of IDEXX Laboratories by 0.5% during the first quarter. Invesco Ltd. now owns 1,166,406 shares of the company's stock worth $489,832,000 after purchasing an additional 5,418 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of IDEXX Laboratories by 58.3% during the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock worth $472,865,000 after purchasing an additional 414,802 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of IDEXX Laboratories by 37.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,429 shares of the company's stock worth $452,046,000 after purchasing an additional 290,551 shares during the last quarter. Institutional investors own 87.84% of the company's stock.

Insider Activity at IDEXX Laboratories

In other news, EVP Michael Lane sold 8,411 shares of the firm's stock in a transaction dated 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 sale, the executive vice president owned 7,132 shares of the company's stock, valued at $4,477,041.68. This trade represents a 54.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sharon E. Underberg sold 5,450 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $651.60, for a total value of $3,551,220.00. Following the sale, the executive vice president directly owned 6,156 shares in the company, valued at approximately $4,011,249.60. This represents a 46.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,057 shares of company stock valued at $34,293,468 over the last 90 days. Insiders own 0.98% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on IDXX. Piper Sandler reiterated a "neutral" rating and issued a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Weiss Ratings reiterated a "buy (b-)" rating on shares of IDEXX Laboratories in a report on Wednesday. Leerink Partners raised their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a report on Monday, August 4th. Finally, Jefferies Financial Group began coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $656.50.

IDEXX Laboratories Trading Down 2.0%

NASDAQ:IDXX opened at $616.15 on Friday. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. The business's 50-day moving average price is $641.49 and its two-hundred day moving average price is $541.85. 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 firm has a market capitalization of $49.29 billion, a price-to-earnings ratio of 51.30, a PEG ratio of 4.07 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released 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 for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, equities analysts expect 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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