Dakota Wealth Management Raises Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Dakota Wealth Management increased its stake in IDEXX Laboratories by 53.7% in the 2nd quarter, acquiring a total of 2,228 shares worth approximately $1.2 million.
• IDEXX Laboratories reported a quarterly revenue of $1.11 billion, surpassing analysts' estimates, with a net margin of 24.41% and an EPS of $3.63.
• Various analysts have increased their price targets for IDEXX Laboratories, with JPMorgan Chase & Co. raising its target from $550 to $675 and maintaining an "overweight" rating.

Dakota Wealth Management lifted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 53.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,228 shares of the company's stock after buying an additional 778 shares during the period. Dakota Wealth Management's holdings in IDEXX Laboratories were worth $1,195,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of IDXX. Price T Rowe Associates Inc. MD boosted its position in shares of IDEXX Laboratories by 71.0% in 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 buying an additional 825,965 shares during the period. Select Equity Group L.P. purchased a new stake in shares of IDEXX Laboratories in the first quarter worth about $194,834,000. Nuveen LLC purchased a new stake in shares of IDEXX Laboratories in the first quarter worth about $179,784,000. Principal Financial Group Inc. boosted its position in shares of IDEXX Laboratories by 58.3% in the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock worth $472,865,000 after buying an additional 414,802 shares during the period. Finally, Durable Capital Partners LP purchased a new stake in shares of IDEXX Laboratories in the first quarter worth about $153,180,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Trading Up 2.3%

NASDAQ:IDXX opened at $632.22 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The business's 50 day moving average is $625.60 and its two-hundred day moving average is $528.15. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $688.12. The company has a market cap of $50.58 billion, a PE ratio of 52.64, a P/E/G ratio of 4.09 and a beta of 1.56.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released 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. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the business posted $2.44 EPS. IDEXX Laboratories's quarterly revenue was up 10.6% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Leerink Partners upped 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. JPMorgan Chase & Co. increased their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Wall Street Zen downgraded IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a report on Sunday. Jefferies Financial Group started coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target for the company. Finally, BTIG Research increased their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $649.44.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Michael Lane sold 8,411 shares of the stock in a transaction that occurred on 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nimrata Hunt sold 7,143 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $630.43, for a total value of $4,503,161.49. Following the transaction, the executive vice president directly owned 18,007 shares in the company, valued at approximately $11,352,153.01. This represents a 28.40% 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 worth $34,293,468 over the last quarter. 0.98% of the stock is owned by corporate insiders.

About IDEXX Laboratories

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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