Heritage Financial Services LLC Makes New Investment in IDEXX Laboratories, Inc. $IDXX

Key Points

• Heritage Financial Services LLC acquired 411 shares of IDEXX Laboratories, valued at approximately $220,000, as part of their new investment revealed in a recent 13F filing.
• Insiders at IDEXX Laboratories have sold a significant amount of stock recently, with EVP Michael Lane selling 8,411 shares for over $5 million, indicating a decline in insider ownership.
• IDEXX Laboratories recently reported quarterly earnings of $3.63 per share, exceeding analysts' expectations, and raised its FY 2025 guidance to between 12.400 and 12.760 EPS.

Heritage Financial Services LLC bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 411 shares of the company's stock, valued at approximately $220,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC boosted its holdings in shares of IDEXX Laboratories by 79.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company's stock worth $8,160,000 after purchasing an additional 8,609 shares during the period. Golden State Wealth Management LLC lifted its position in IDEXX Laboratories by 3,766.7% in the first quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock worth $49,000 after buying an additional 113 shares during the last quarter. Plato Investment Management Ltd boosted its stake in IDEXX Laboratories by 37.1% during the first quarter. Plato Investment Management Ltd now owns 3,087 shares of the company's stock worth $1,310,000 after buying an additional 835 shares during the period. Sagespring Wealth Partners LLC bought a new position in IDEXX Laboratories during the first quarter valued at $229,000. Finally, Genesis Wealth Advisors LLC purchased a new stake in shares of IDEXX Laboratories in the second quarter valued at $215,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories 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 transaction of $5,279,921.14. Following the completion of the sale, the executive vice president owned 7,132 shares in the company, valued at $4,477,041.68. This represents a 54.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nimrata Hunt sold 1,200 shares of IDEXX Laboratories stock in a transaction on Monday, August 11th. The shares were sold at an average price of $656.53, for a total value of $787,836.00. Following the completion of the transaction, the executive vice president owned 16,807 shares in the company, valued at $11,034,299.71. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,057 shares of company stock worth $34,293,468. Insiders own 0.98% of the company's stock.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $620.11 on Thursday. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12. 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 stock has a fifty day simple moving average of $631.52 and a two-hundred day simple moving average of $531.87. The stock has a market capitalization of $49.61 billion, a price-to-earnings ratio of 51.63, a P/E/G ratio of 4.14 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share 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 during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The firm's quarterly 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. On average, analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IDXX shares. JPMorgan Chase & Co. upped their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. UBS Group assumed coverage on IDEXX Laboratories in a research note on Wednesday. They set a "neutral" rating and a $720.00 target price on the stock. BTIG Research raised their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Jefferies Financial Group started coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective on the stock. Finally, Wall Street Zen downgraded IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $656.50.

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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