IDEXX Laboratories, Inc. $IDXX Shares Bought by NorthRock Partners LLC

Key Points

• NorthRock Partners LLC increased its stake in IDEXX Laboratories by 84% in the second quarter, now holding 1,906 shares valued at approximately $1,022,000.
• IDEXX Laboratories reported a 10.6% increase in revenue year-over-year, reaching $1.11 billion, with earnings per share of $3.63 for the latest quarter.
• Institutional investors own 87.84% of IDEXX Laboratories, indicating strong institutional support for the company's stock.

NorthRock Partners LLC raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 84.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,906 shares of the company's stock after acquiring an additional 870 shares during the quarter. NorthRock Partners LLC's holdings in IDEXX Laboratories were worth $1,022,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Verdence Capital Advisors LLC acquired a new stake in IDEXX Laboratories in the second quarter valued at approximately $806,000. Envestnet Portfolio Solutions Inc. grew its position in shares of IDEXX Laboratories by 34.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,444 shares of the company's stock worth $12,038,000 after buying an additional 5,795 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of IDEXX Laboratories by 39.1% during the second quarter. Sequoia Financial Advisors LLC now owns 2,694 shares of the company's stock worth $1,445,000 after buying an additional 757 shares in the last quarter. Montrusco Bolton Investments Inc. grew its position in shares of IDEXX Laboratories by 50.3% during the second quarter. Montrusco Bolton Investments Inc. now owns 429,409 shares of the company's stock worth $224,153,000 after buying an additional 143,641 shares in the last quarter. Finally, MGO One Seven LLC acquired a new stake in shares of IDEXX Laboratories during the second quarter worth approximately $3,187,000. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $633.32 on Tuesday. The company has a market cap of $50.67 billion, a PE ratio of 52.73, a P/E/G ratio of 3.99 and a beta of 1.58. The company has a fifty day moving average price of $640.50 and a two-hundred day moving average price of $545.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. 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 announced its quarterly 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 net margin of 24.41% and a return on equity of 64.42%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Michael G. Erickson sold 406 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total value of $263,883.76. Following the sale, the executive vice president owned 11,287 shares of the company's stock, valued at $7,336,098.52. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sharon E. Underberg sold 5,450 shares of the stock in a transaction dated Friday, August 8th. The stock was 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 in the company, valued at approximately $4,011,249.60. This trade represents a 46.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Leerink Partners raised their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Morgan Stanley raised their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. UBS Group assumed coverage on shares of IDEXX Laboratories in a research report on Wednesday, October 1st. They set a "neutral" rating and a $720.00 price target for the company. Wall Street Zen downgraded shares of IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 28th. Finally, Piper Sandler reissued a "neutral" rating and set a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $656.50.

IDEXX Laboratories 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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