Chevy Chase Trust Holdings LLC Sells 494 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Chevy Chase Trust Holdings LLC reduced its stake in IDEXX Laboratories by 1.1%, selling 494 shares and holding 42,481 shares worth approximately $22.78 million at the end of the second quarter.
• IDEXX Laboratories received several analyst upgrades, with BTIG Research raising its price target from $545 to $785 and maintaining a "buy" rating.
• The company reported earnings of $3.63 per share, exceeding estimates by $0.35, with quarterly revenues of $1.11 billion reflecting a 10.6% increase year-over-year.

Chevy Chase Trust Holdings LLC decreased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,481 shares of the company's stock after selling 494 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of IDEXX Laboratories worth $22,784,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in shares of IDEXX Laboratories in the 2nd quarter valued at about $29,000. MorganRosel Wealth Management LLC bought a new position in shares of IDEXX Laboratories in the 1st quarter valued at about $26,000. Ameritas Advisory Services LLC bought a new stake in IDEXX Laboratories in the second quarter worth about $36,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in IDEXX Laboratories by 55.6% in the first 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 last quarter. Finally, WPG Advisers LLC bought a new stake in IDEXX Laboratories in the first quarter worth about $37,000. Institutional investors own 87.84% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IDXX shares. Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a research note on Monday, August 4th. BTIG Research raised their price objective 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. Leerink Partners raised 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. UBS Group started coverage on shares of IDEXX Laboratories in a research note on Wednesday, October 1st. They issued a "neutral" rating and a $720.00 price objective for the company. Finally, Wall Street Zen downgraded shares of IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 28th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $656.50.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $635.40 on Friday. The firm has a market cap of $50.83 billion, a PE ratio of 52.91, a price-to-earnings-growth ratio of 4.11 and a beta of 1.58. The firm's 50 day simple moving average is $639.99 and its 200-day simple moving average is $550.21. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $688.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.35. The business 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%. The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the transaction, the executive vice president directly owned 6,156 shares of the company's stock, valued at $4,011,249.60. This trade represents a 46.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director M Anne Szostak sold 2,187 shares of IDEXX Laboratories 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is owned by corporate insiders.

IDEXX Laboratories 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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