Envestnet Portfolio Solutions Inc. Purchases 5,795 Shares of IDEXX Laboratories, Inc. $IDXX

Envestnet Portfolio Solutions Inc. grew its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 34.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 22,444 shares of the company's stock after acquiring an additional 5,795 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in IDEXX Laboratories were worth $12,038,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of IDEXX Laboratories by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company's stock worth $4,139,001,000 after buying an additional 146,427 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of IDEXX Laboratories by 71.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock valued at $835,244,000 after buying an additional 825,965 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of IDEXX Laboratories by 0.5% in the 1st quarter. Invesco Ltd. now owns 1,166,406 shares of the company's stock valued at $489,832,000 after acquiring an additional 5,418 shares during the last quarter. Principal Financial Group Inc. grew its position in 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 acquiring an additional 414,802 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in IDEXX Laboratories by 37.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,429 shares of the company's stock worth $452,046,000 after acquiring an additional 290,551 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 2,187 shares of the stock in a transaction that occurred on 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 transaction, the director owned 262 shares of the company's stock, valued at $169,600.46. This represents a 89.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Lane sold 8,411 shares of the firm'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 owned 7,132 shares in the company, valued at $4,477,041.68. The trade was a 54.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is owned by company insiders.

IDEXX Laboratories Stock Performance

IDXX stock opened at $633.32 on Tuesday. 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 $50.67 billion, a price-to-earnings ratio of 52.73, a PEG ratio of 3.99 and a beta of 1.58. The business's fifty day simple moving average is $640.50 and its two-hundred day simple moving average is $545.08. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly 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. The firm had revenue of $1.11 billion for 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 business's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analyst Weigh In

IDXX has been the subject of several analyst reports. Jefferies Financial Group began coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective for the company. UBS Group initiated coverage on IDEXX Laboratories in a research report on Wednesday, October 1st. They issued a "neutral" rating and a $720.00 price target for the company. Morgan Stanley lifted their price objective on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. Wall Street Zen downgraded shares of IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 28th. Finally, Leerink Partners raised their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, IDEXX Laboratories has a consensus rating of "Moderate Buy" and a consensus target price of $656.50.

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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