IDEXX Laboratories, Inc. $IDXX Shares Purchased by Waycross Partners LLC

Key Points

• Waycross Partners LLC increased its stake in IDEXX Laboratories by 3.8%, now owning 42,510 shares valued at approximately $22.8 million, which constitutes about 2.1% of its investment portfolio.
• Analysts have raised their price targets for IDEXX, with JPMorgan Chase increasing theirs from $550 to $675 and Piper Sandler raising their target from $510 to $700, indicating overall positive sentiment on the stock.
• IDEXX Laboratories recently reported earnings of $3.63 per share for the quarter, surpassing analysts' estimates of $3.28, along with a revenue of $1.11 billion, a 10.6% increase from the same quarter last year.

Waycross Partners LLC boosted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,510 shares of the company's stock after buying an additional 1,557 shares during the period. IDEXX Laboratories accounts for approximately 2.1% of Waycross Partners LLC's investment portfolio, making the stock its 22nd largest holding. Waycross Partners LLC owned 0.05% of IDEXX Laboratories worth $22,800,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IDXX. MorganRosel Wealth Management LLC acquired a new stake in IDEXX Laboratories in the first quarter worth $26,000. Opal Wealth Advisors LLC acquired a new stake in IDEXX Laboratories in the second quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. increased its position in IDEXX Laboratories by 55.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after buying an additional 30 shares during the period. WPG Advisers LLC acquired a new stake in IDEXX Laboratories in the first quarter worth $37,000. Finally, Bank of Jackson Hole Trust increased its position in IDEXX Laboratories by 328.6% in the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after buying an additional 69 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Leerink Partners increased their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. raised their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Piper Sandler reissued a "neutral" rating and set a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. 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 target on the stock. Finally, Wall Street Zen raised IDEXX Laboratories from a "buy" rating to a "strong-buy" rating in a report on Saturday. One investment 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 company's stock. According to MarketBeat, IDEXX Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $649.44.

IDEXX Laboratories Trading Up 0.7%

Shares of NASDAQ IDXX opened at $648.38 on Wednesday. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $688.12. The firm has a market capitalization of $51.87 billion, a PE ratio of 53.99, a PEG ratio of 4.17 and a beta of 1.56. 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 business has a 50-day moving average price of $619.13 and a two-hundred day moving average price of $523.97.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.06 billion. During the same period last year, the company posted $2.44 EPS. The business's quarterly revenue 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. As a group, analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other news, 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 transaction of $263,883.76. Following the completion of the sale, the executive vice president directly owned 11,287 shares in the company, valued at $7,336,098.52. The trade was a 3.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total value of $5,279,921.14. Following the sale, the executive vice president owned 7,132 shares of the company's stock, valued at approximately $4,477,041.68. This represents a 54.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,057 shares of company stock worth $34,293,468 over the last quarter. Insiders own 0.98% of the company's stock.

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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