IDEXX Laboratories, Inc. $IDXX Shares Sold by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management LLC reduced its holdings in IDEXX Laboratories by 20.7%, owning 2,111 shares valued at approximately $1.13 million after selling 552 shares in the second quarter.
• IDEXX Laboratories' insiders sold a total of 54,057 shares worth approximately $34.29 million in the last quarter, with key executives reducing their stakes significantly.
• Analysts have set a range of price targets for IDEXX Laboratories, with the average target currently at $656.50, and ratings ranging from Strong Buy to Hold.

Axxcess Wealth Management LLC trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 20.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,111 shares of the company's stock after selling 552 shares during the period. Axxcess Wealth Management LLC's holdings in IDEXX Laboratories were worth $1,132,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of IDXX. MorganRosel Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the first quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new position in shares of IDEXX Laboratories during the second quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after purchasing an additional 30 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of IDEXX Laboratories during the second quarter valued at $36,000. Finally, WPG Advisers LLC acquired a new position in shares of IDEXX Laboratories during the first quarter valued at $37,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP Sharon E. Underberg sold 5,450 shares of the firm's 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael G. Erickson sold 406 shares of the firm's 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 sale, the executive vice president owned 11,287 shares of the company's stock, valued at $7,336,098.52. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,057 shares of company stock worth $34,293,468 in the last quarter. Corporate insiders own 0.98% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on IDXX shares. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a report on Monday, August 4th. UBS Group initiated coverage on IDEXX Laboratories in a report on Wednesday, October 1st. They set a "neutral" rating and a $720.00 target price on the stock. Wall Street Zen lowered IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 28th. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price on the stock. Finally, Leerink Partners lifted their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $656.50.

IDEXX Laboratories Trading Down 0.3%

Shares of IDXX opened at $637.34 on Friday. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. The business's 50-day moving average price is $640.44 and its 200 day moving average price is $547.86. 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 stock has a market capitalization of $50.99 billion, a P/E ratio of 53.07, a P/E/G ratio of 4.14 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, beating the consensus estimate of $3.28 by $0.35. The business had revenue of $1.11 billion during 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 firm's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share 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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