MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in IDEXX Laboratories by 12.2%, owning about 0.08% of the company valued at $28.2 million.
• IDEXX Laboratories reported a 10.6% year-over-year increase in revenue, with $3.63 earnings per share that surpassed analyst estimates for the quarter.
• Analysts have raised their price targets for IDEXX Laboratories, with BTIG Research setting a new target of $785.00 and maintaining a "buy" rating.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 12.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 67,215 shares of the company's stock after purchasing an additional 7,328 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.08% of IDEXX Laboratories worth $28,227,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mutual of America Capital Management LLC lifted its position in IDEXX Laboratories by 79.6% in the first quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company's stock valued at $8,160,000 after purchasing an additional 8,609 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings 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 valued at $49,000 after acquiring an additional 113 shares in the last quarter. Sagespring Wealth Partners LLC bought a new stake in IDEXX Laboratories in the first quarter valued at $229,000. Wealth Enhancement Advisory Services LLC boosted its holdings in IDEXX Laboratories by 13.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company's stock valued at $10,731,000 after acquiring an additional 2,931 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in IDEXX Laboratories by 4.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,225 shares of the company's stock valued at $934,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Down 2.1%

Shares of NASDAQ:IDXX traded down $13.47 during midday trading on Friday, reaching $631.69. The company's stock had a trading volume of 76,301 shares, compared to its average volume of 693,116. The firm has a 50 day moving average of $601.69 and a 200-day moving average of $512.04. The firm has a market capitalization of $50.54 billion, a P/E ratio of 52.67, a PEG ratio of 4.13 and a beta of 1.56. 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, Inc. has a 12-month low of $356.14 and a 12-month high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $3.63 earnings per share 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 the consensus estimate 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 prior year, the firm earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IDXX. Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target on the stock. Stifel Nicolaus set a $640.00 price target on shares of IDEXX Laboratories in a report on Monday, August 4th. BTIG Research lifted their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. lifted 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. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $649.44.

Insider Transactions at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 1,200 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $656.53, for a total value of $787,836.00. Following the sale, the executive vice president directly owned 16,807 shares of the company's stock, valued at approximately $11,034,299.71. This represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael G. Erickson sold 406 shares of IDEXX Laboratories stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $649.96, for a total value of $263,883.76. Following the completion of the transaction, the executive vice president directly owned 11,287 shares of the company's stock, valued at approximately $7,336,098.52. This represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is owned by insiders.

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.