Chicago Capital LLC Reduces Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Chicago Capital LLC has reduced its holdings in IDEXX Laboratories, Inc. by 1.1%, owning approximately 86,322 shares worth $46.3 million as of its latest SEC filing.
• IDEXX Laboratories reported a 10.6% year-over-year revenue increase for the latest quarter, with earnings per share surpassing analysts' expectations at $3.63.
• Insider trading activity has seen significant share sales, with an executive vice president selling 8,411 shares, marking a 54.11% decrease in their ownership position.

Chicago Capital LLC lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,322 shares of the company's stock after selling 977 shares during the period. Chicago Capital LLC owned approximately 0.11% of IDEXX Laboratories worth $46,298,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in IDEXX Laboratories in the second quarter valued at approximately $29,000. MorganRosel Wealth Management LLC purchased a new stake in IDEXX Laboratories in the 1st quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in IDEXX Laboratories by 55.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after purchasing an additional 30 shares in the last quarter. WPG Advisers LLC purchased a new stake in IDEXX Laboratories in the 1st quarter worth approximately $37,000. Finally, Bank of Jackson Hole Trust boosted its position in IDEXX Laboratories by 328.6% in the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after purchasing an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Down 0.3%

NASDAQ IDXX opened at $630.56 on Tuesday. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $688.12. The company has a market cap of $50.45 billion, a P/E ratio of 52.50, a P/E/G ratio of 4.09 and a beta of 1.56. The business has a fifty day moving average price of $627.80 and a 200 day moving average price of $530.50. 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned $2.44 EPS. The company's revenue for the quarter was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on IDXX shares. Leerink Partners upped their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. upped their price objective on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price on the stock. Wall Street Zen lowered IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Finally, Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a research report on Monday, August 4th. 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $649.44.

Insiders Place Their Bets

In related 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 completion of the sale, the executive vice president directly owned 7,132 shares of the company's stock, valued at approximately $4,477,041.68. This trade represents a 54.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director M Anne Szostak sold 2,187 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $647.33, for a total value of $1,415,710.71. Following the sale, the director directly 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 sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is currently owned by company insiders.

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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