IDEXX Laboratories, Inc. $IDXX Shares Sold by Inspire Investing LLC

Key Points

• Inspire Investing LLC has decreased its holdings in IDEXX Laboratories by 37.7%, now owning 8,462 shares valued at approximately $4.54 million.
• CEO Jonathan Jay Mazelsky sold 29,260 shares for over $18.4 million, a move that reduced his ownership by 25.99%.
• IDEXX Laboratories reported a strong earnings performance, with a quarterly EPS of $3.63, surpassing estimates and a revenue increase of 10.6% year-over-year.

Inspire Investing LLC trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 37.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,462 shares of the company's stock after selling 5,115 shares during the period. Inspire Investing LLC's holdings in IDEXX Laboratories were worth $4,538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of IDXX. MorganRosel Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories during the first quarter worth $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of IDEXX Laboratories in the 2nd quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of IDEXX Laboratories by 55.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after acquiring an additional 30 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of IDEXX Laboratories in the 2nd quarter worth about $36,000. Finally, WPG Advisers LLC acquired a new stake in shares of IDEXX Laboratories in the 1st quarter worth about $37,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at IDEXX Laboratories

In other news, CEO Jonathan Jay Mazelsky sold 29,260 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were 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 approximately $52,650,885.78. This trade represents a 25.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Sharon E. Underberg sold 5,450 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the transaction, the executive vice president owned 6,156 shares of the company's stock, valued at approximately $4,011,249.60. This trade represents a 46.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,057 shares of company stock worth $34,293,468. Company insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $616.15 on Friday. The firm has a 50-day moving average price of $641.49 and a 200 day moving average price of $541.85. The firm has a market capitalization of $49.29 billion, a PE ratio of 51.30, a P/E/G ratio of 4.07 and a beta of 1.58. The company has a quick ratio of 0.79, a current ratio of 1.11 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 announced its 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. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm posted $2.44 EPS. IDEXX Laboratories's 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. On average, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on IDXX shares. BTIG Research increased their price objective on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a report on Monday, August 4th. UBS Group started coverage on shares of IDEXX Laboratories in a report on Wednesday, October 1st. They issued a "neutral" rating and a $720.00 price objective on the stock. Wall Street Zen cut shares of IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 28th. Finally, Jefferies Financial Group initiated coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, IDEXX Laboratories currently has an average rating of "Moderate Buy" and a consensus target price of $656.50.

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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