Czech National Bank Buys 850 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• The Czech National Bank increased its holdings in IDEXX Laboratories by 4.5% during Q2 2023, owning 19,657 shares valued at approximately $10.54 million as of the last reporting period.
• IDEXX Laboratories reported strong financial results for Q2 2023, with an earnings per share (EPS) of $3.63, exceeding estimates and achieving a 10.6% year-over-year revenue increase.
• Several equity analysts have raised their price targets for IDEXX Laboratories, with Morgan Stanley setting a new target of $765, reflecting a positive outlook on the company's performance.

Czech National Bank raised its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 4.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,657 shares of the company's stock after buying an additional 850 shares during the quarter. Czech National Bank's holdings in IDEXX Laboratories were worth $10,543,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Red Spruce Capital LLC raised its position in IDEXX Laboratories by 1.1% in the 2nd quarter. Red Spruce Capital LLC now owns 1,701 shares of the company's stock valued at $912,000 after purchasing an additional 19 shares during the last quarter. Rise Advisors LLC raised its position in IDEXX Laboratories by 3.9% in the 2nd quarter. Rise Advisors LLC now owns 562 shares of the company's stock valued at $301,000 after purchasing an additional 21 shares during the last quarter. Sage Mountain Advisors LLC raised its position in IDEXX Laboratories by 3.8% in the 1st quarter. Sage Mountain Advisors LLC now owns 635 shares of the company's stock valued at $267,000 after purchasing an additional 23 shares during the last quarter. Great Lakes Advisors LLC raised its position in IDEXX Laboratories by 0.9% in the 1st quarter. Great Lakes Advisors LLC now owns 2,567 shares of the company's stock valued at $1,078,000 after purchasing an additional 23 shares during the last quarter. Finally, PDS Planning Inc raised its position in IDEXX Laboratories by 3.9% in the 1st quarter. PDS Planning Inc now owns 641 shares of the company's stock valued at $269,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

Insider Activity at IDEXX Laboratories

In related news, Director M Anne Szostak sold 2,187 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the sale, the director owned 262 shares in the company, valued at approximately $169,600.46. This represents a 89.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Lane sold 8,411 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total value of $5,279,921.14. Following the sale, the executive vice president owned 7,132 shares in the company, valued at $4,477,041.68. The trade was a 54.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,057 shares of company stock valued at $34,293,468 over the last ninety days. Company insiders own 0.98% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IDXX shares. Morgan Stanley boosted their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. Leerink Partners boosted their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded IDEXX Laboratories from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Jefferies Financial Group started coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price for the company. Finally, BTIG Research boosted their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $649.44.

IDEXX Laboratories Stock Up 0.1%

Shares of IDXX stock traded up $0.65 on Friday, hitting $656.16. 981,520 shares of the stock were exchanged, compared to its average volume of 374,016. 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 $52.50 billion, a P/E ratio of 54.63, a price-to-earnings-growth ratio of 4.25 and a beta of 1.56. The business has a 50-day moving average of $614.44 and a 200 day moving average of $520.96. 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 quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 64.42% and a net margin of 24.41%.IDEXX Laboratories's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS 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.