Biondo Investment Advisors LLC raised its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 25.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,829 shares of the company's stock after acquiring an additional 11,072 shares during the quarter. IDEXX Laboratories makes up 3.2% of Biondo Investment Advisors LLC's portfolio, making the stock its 7th largest holding. Biondo Investment Advisors LLC owned 0.07% of IDEXX Laboratories worth $22,605,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Mutual of America Capital Management LLC boosted its stake in shares of IDEXX Laboratories by 79.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company's stock worth $8,160,000 after acquiring an additional 8,609 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of IDEXX Laboratories by 3,766.7% during the 1st quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock valued at $49,000 after buying an additional 113 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new position in shares of IDEXX Laboratories during the 1st quarter valued at about $229,000. Banque Transatlantique SA purchased a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $2,681,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of IDEXX Laboratories by 13.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company's stock valued at $10,731,000 after buying an additional 2,931 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.
Insider Transactions at IDEXX Laboratories
In other news, EVP Sharon E. Underberg sold 5,450 shares of the business's stock in a transaction dated 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 sale, the executive vice president directly owned 6,156 shares in the company, valued at $4,011,249.60. The trade was a 46.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nimrata Hunt sold 1,200 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $656.53, for a total transaction of $787,836.00. Following the completion of the sale, the executive vice president owned 16,807 shares in the company, valued at approximately $11,034,299.71. This trade represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is currently owned by corporate insiders.
IDEXX Laboratories Price Performance
NASDAQ IDXX traded down $1.11 on Wednesday, reaching $640.61. The company had a trading volume of 521,466 shares, compared to its average volume of 716,235. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $51.25 billion, a PE ratio of 53.34, a price-to-earnings-growth ratio of 4.15 and a beta of 1.49. The firm's 50 day moving average price is $574.61 and its 200 day moving average price is $496.67. 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 analysts' consensus estimates of $3.28 by $0.35. The company 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%. IDEXX Laboratories's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on IDXX shares. Leerink Partners lifted their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price on the stock. BTIG Research lifted their target price on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Piper Sandler restated a "neutral" rating and set a $700.00 target price (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. One 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.com, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $649.44.
Read Our Latest Report on IDEXX Laboratories
About IDEXX Laboratories
(
Free Report)
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.
See Also
Before you consider IDEXX Laboratories, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IDEXX Laboratories wasn't on the list.
While IDEXX Laboratories currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
MarketBeat All Access