IDEXX Laboratories, Inc. $IDXX Shares Sold by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB reduced their stake in IDEXX Laboratories by 13.3% during Q2, now holding 3,250 shares valued at $1.74 million.
• A significant number of institutional investors, including Squarepoint Ops LLC, have increased their stakes in IDEXX, indicating strong interest in the stock.
• IDEXX Laboratories recently received upgraded price targets from brokerages, with JPMorgan Chase & Co. raising its target from $550 to $675, reflecting growing optimism about the company's performance.

E. Ohman J or Asset Management AB lessened its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 13.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,250 shares of the company's stock after selling 500 shares during the period. E. Ohman J or Asset Management AB's holdings in IDEXX Laboratories were worth $1,743,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of IDXX. Tema Etfs LLC acquired a new position in shares of IDEXX Laboratories during the 4th quarter worth about $304,000. Tidal Investments LLC increased its stake in IDEXX Laboratories by 83.7% in the fourth quarter. Tidal Investments LLC now owns 11,591 shares of the company's stock valued at $4,792,000 after purchasing an additional 5,281 shares during the last quarter. Two Sigma Advisers LP increased its stake in IDEXX Laboratories by 34.1% in the fourth quarter. Two Sigma Advisers LP now owns 45,600 shares of the company's stock valued at $18,853,000 after purchasing an additional 11,600 shares during the last quarter. Triglav Skladi D.O.O. acquired a new stake in IDEXX Laboratories during the fourth quarter worth approximately $279,000. Finally, Squarepoint Ops LLC lifted its position in shares of IDEXX Laboratories by 108.8% during the 4th quarter. Squarepoint Ops LLC now owns 163,510 shares of the company's stock worth $67,602,000 after buying an additional 85,214 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director M Anne Szostak sold 2,187 shares of IDEXX Laboratories stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the sale, the director directly owned 262 shares of the company's stock, valued at approximately $169,600.46. The trade was a 89.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Lane sold 8,411 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the transaction, the executive vice president owned 7,132 shares in the company, valued at $4,477,041.68. This trade represents a 54.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,057 shares of company stock worth $34,293,468 over the last three months. 0.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IDXX. JPMorgan Chase & Co. boosted their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. BTIG Research upped their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a research note on Monday, August 4th. Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Finally, Leerink Partners increased their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $649.44.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $643.99 on Tuesday. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $688.12. The company has a market capitalization of $51.52 billion, a price-to-earnings ratio of 53.62, a PEG ratio of 4.15 and a beta of 1.56. The stock has a fifty day moving average of $605.56 and a two-hundred day moving average of $515.63. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $3.63 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The company 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 company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

IDEXX Laboratories Company 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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