IDEXX Laboratories, Inc. $IDXX Shares Sold by EFG Asset Management North America Corp.

Key Points

• EFG Asset Management North America Corp. reduced its holdings in IDEXX Laboratories, Inc. by 9.1%, owning 12,153 shares valued at approximately $5.1 million after the sell-off.
• Insider transactions indicate significant sales, with CEO Jonathan Mazelsky offloading 29,260 shares for about $18.5 million, reflecting a 25.99% decrease in ownership.
• IDEXX Laboratories reported a 10.6% increase in quarterly revenue, reaching $1.11 billion, while also beating earnings expectations with $3.63 EPS.

EFG Asset Management North America Corp. lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 9.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,153 shares of the company's stock after selling 1,222 shares during the period. IDEXX Laboratories accounts for about 0.8% of EFG Asset Management North America Corp.'s investment portfolio, making the stock its 25th biggest holding. EFG Asset Management North America Corp.'s holdings in IDEXX Laboratories were worth $5,102,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new stake in IDEXX Laboratories during the first quarter worth $26,000. Colonial Trust Co SC lifted its holdings in IDEXX Laboratories by 84.8% during the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after buying an additional 39 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in IDEXX Laboratories by 55.6% during the first 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 period. WPG Advisers LLC purchased a new stake in IDEXX Laboratories during the first quarter worth $37,000. Finally, Bank of Jackson Hole Trust lifted its holdings in IDEXX Laboratories by 328.6% during the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 87.84% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on IDXX shares. Morgan Stanley upped 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 assumed coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective for the company. Leerink Partners increased their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Stifel Nicolaus set a $640.00 price objective on IDEXX Laboratories in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. increased their price objective on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $649.44.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX traded up $9.84 during mid-day trading on Monday, hitting $652.83. The stock had a trading volume of 460,575 shares, compared to its average volume of 703,129. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The company has a 50 day moving average of $593.22 and a two-hundred day moving average of $507.49. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12. The firm has a market cap of $52.23 billion, a PE ratio of 54.36, a PEG ratio of 4.16 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm earned $2.44 EPS. The firm's revenue 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 predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In related news, EVP Michael Lane sold 8,411 shares of the company's stock in a transaction on 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 transaction, the executive vice president directly owned 7,132 shares of the company's stock, valued at $4,477,041.68. This represents a 54.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sharon E. Underberg sold 5,450 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $651.60, for a total value of $3,551,220.00. Following the completion of the transaction, the executive vice president directly owned 6,156 shares in the company, valued at approximately $4,011,249.60. The trade was a 46.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,057 shares of company stock worth $34,293,468 over the last 90 days. Insiders own 0.98% of the company's stock.

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.