Diversified Trust Co Grows Stock Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Diversified Trust Co increased its stock position in IDEXX Laboratories by 56.4% during the second quarter, acquiring a total of 2,358 shares valued at approximately $1,265,000.
• IDEXX Laboratories reported earnings of $3.63 per share for the latest quarter, exceeding the consensus estimate by $0.35, and showing a revenue increase of 10.6% compared to the previous year.
• Several analysts have raised their price targets for IDEXX Laboratories, with BTIG Research increasing its target from $545.00 to $785.00 and maintaining a "buy" rating on the stock.

Diversified Trust Co lifted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 56.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,358 shares of the company's stock after acquiring an additional 850 shares during the period. Diversified Trust Co's holdings in IDEXX Laboratories were worth $1,265,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. MorganRosel Wealth Management LLC acquired a new position in IDEXX Laboratories during the 1st quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after buying an additional 30 shares during the last quarter. WPG Advisers LLC bought a new position in IDEXX Laboratories in the first quarter valued at about $37,000. Bank of Jackson Hole Trust raised its position in IDEXX Laboratories by 328.6% in the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock valued at $39,000 after purchasing an additional 69 shares during the last quarter. Finally, Retirement Wealth Solutions LLC raised its position in shares of IDEXX Laboratories by 40.0% during the first quarter. Retirement Wealth Solutions LLC now owns 105 shares of the company's stock worth $44,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX traded down $12.06 during mid-day trading on Monday, hitting $644.10. The stock had a trading volume of 386,847 shares, compared to its average volume of 405,479. The company has a 50 day simple moving average of $614.44 and a 200-day simple moving average of $521.60. The stock has a market capitalization of $51.53 billion, a price-to-earnings ratio of 53.63, a P/E/G ratio of 4.25 and a beta of 1.56. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The firm had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company's revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on IDXX. BTIG Research upped their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Morgan Stanley lifted their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a report on Friday, August 15th. Jefferies Financial Group began coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target for the company. 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. Finally, Wall Street Zen raised shares of IDEXX Laboratories from a "buy" rating to a "strong-buy" rating in a report on Saturday. One 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 company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $649.44.

Insider Activity

In related news, EVP Michael Lane sold 8,411 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total value of $5,279,921.14. Following the completion of the transaction, the executive vice president owned 7,132 shares in the company, valued at $4,477,041.68. This trade represents a 54.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories stock in a transaction 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 completion of the sale, the executive vice president directly owned 6,156 shares of the company's stock, valued at approximately $4,011,249.60. The trade was a 46.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is owned by company 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.