Mogy Joel R Investment Counsel Inc. Reduces Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Mogy Joel R Investment Counsel Inc. reduced its stake in IDEXX Laboratories by 0.6%, holding 85,181 shares valued at approximately $45.7 million.
• Several institutional investors, including Red Spruce Capital LLC and Rise Advisors LLC, increased their holdings in IDEXX during the 2nd quarter, indicating a mixed sentiment among investors.
• IDEXX reported earnings of $3.63 per share for the last quarter, surpassing analyst expectations and showing a year-over-year revenue increase of 10.6%.

Mogy Joel R Investment Counsel Inc. lessened its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,181 shares of the company's stock after selling 543 shares during the quarter. IDEXX Laboratories accounts for 2.6% of Mogy Joel R Investment Counsel Inc.'s portfolio, making the stock its 14th largest position. Mogy Joel R Investment Counsel Inc. owned about 0.11% of IDEXX Laboratories worth $45,686,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new position in IDEXX Laboratories in the 1st quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in 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 buying an additional 30 shares during the period. WPG Advisers LLC purchased a new position in IDEXX Laboratories in the 1st quarter worth about $37,000. Bank of Jackson Hole Trust increased its stake in IDEXX Laboratories by 328.6% in the 1st 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. Finally, Cornerstone Planning Group LLC increased its stake in IDEXX Laboratories by 108.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 104 shares of the company's stock worth $44,000 after buying an additional 54 shares during the period. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Up 0.1%

NASDAQ IDXX traded up $0.65 during trading on Friday, reaching $656.16. 981,520 shares of the company's stock traded hands, compared to its average volume of 374,016. The company's 50 day simple moving average is $614.44 and its two-hundred day simple moving average is $520.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $688.12. The firm has a market cap of $52.49 billion, a price-to-earnings ratio of 54.63, a price-to-earnings-growth ratio of 4.24 and a beta of 1.56.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm earned $2.44 EPS. The company'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, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other news, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction that occurred on 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 transaction, the executive vice president owned 7,132 shares of the company's stock, valued at $4,477,041.68. The trade was a 54.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nimrata Hunt sold 7,143 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the completion of the transaction, the executive vice president directly owned 18,007 shares in the company, valued at approximately $11,352,153.01. The trade was a 28.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. BTIG Research raised their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Leerink Partners raised their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a research report on Monday, August 4th. Morgan Stanley raised their target price on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. Finally, JPMorgan Chase & Co. raised their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $649.44.

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.