IDEXX Laboratories, Inc. $IDXX Shares Purchased by Peloton Wealth Strategists

Key Points

• Peloton Wealth Strategists significantly increased its stake in IDEXX Laboratories, boosting ownership by 348.8% and owning 2,513 shares valued at approximately $1,055,000.
• CEO Jonathan Jay Mazelsky sold 29,260 shares, marking a 25.99% decrease in his holdings, while insiders sold a total of 54,057 shares worth over $34 million in the past ninety days.
• IDEXX Laboratories reported strong earnings for the last quarter, with an EPS of $3.63, surpassing estimates and signaling a year-over-year revenue increase of 10.6%.

Peloton Wealth Strategists lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 348.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,513 shares of the company's stock after buying an additional 1,953 shares during the quarter. Peloton Wealth Strategists' holdings in IDEXX Laboratories were worth $1,055,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC increased its holdings in IDEXX Laboratories by 59,810.7% during the 1st quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock worth $3,856,950,000 after purchasing an additional 916,898 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in 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 worth $835,244,000 after purchasing an additional 825,965 shares during the last quarter. Select Equity Group L.P. purchased a new stake in IDEXX Laboratories during the 1st quarter worth approximately $194,834,000. Nuveen LLC purchased a new stake in IDEXX Laboratories during the 1st quarter worth approximately $179,784,000. Finally, Principal Financial Group Inc. increased its holdings in IDEXX Laboratories by 58.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock worth $472,865,000 after purchasing an additional 414,802 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at IDEXX Laboratories

In related news, CEO Jonathan Jay Mazelsky sold 29,260 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total transaction of $18,491,734.80. Following the completion of the transaction, the chief executive officer owned 83,311 shares in the company, valued at $52,650,885.78. The trade was a 25.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director M Anne Szostak sold 2,187 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is owned by company insiders.

Analyst Ratings Changes

IDXX has been the topic of several analyst reports. Leerink Partners lifted their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $700.00 target price (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of "Moderate Buy" and a consensus target price of $649.44.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $652.83 on Tuesday. The firm has a market cap of $52.23 billion, a price-to-earnings ratio of 54.36, a PEG ratio of 4.16 and a beta of 1.56. The stock has a 50 day moving average of $595.55 and a 200-day moving average of $508.89. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $3.28 by $0.35. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The business's revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

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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