IDEXX Laboratories, Inc. $IDXX Shares Sold by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. reduced its holdings in IDEXX Laboratories by 24.2% during the second quarter, now owning 1,561 shares worth $837,000.
• IDEXX Laboratories reported $3.63 earnings per share (EPS) for the last quarter, surpassing expectations of $3.28, with a year-over-year revenue increase of 10.6%.
• The stock has seen a price target increase from various brokerages, including JPMorgan Chase & Co.**, which raised its target from $550.00 to $675.00 with an "overweight" rating.

QRG Capital Management Inc. cut its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 24.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,561 shares of the company's stock after selling 498 shares during the period. QRG Capital Management Inc.'s holdings in IDEXX Laboratories were worth $837,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in IDEXX Laboratories by 1.5% in the first quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company's stock valued at $4,139,001,000 after buying an additional 146,427 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in IDEXX Laboratories by 71.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock valued at $835,244,000 after buying an additional 825,965 shares in the last quarter. Invesco Ltd. raised its stake in IDEXX Laboratories by 0.5% in the first quarter. Invesco Ltd. now owns 1,166,406 shares of the company's stock valued at $489,832,000 after buying an additional 5,418 shares in the last quarter. Principal Financial Group Inc. raised its stake in IDEXX Laboratories by 58.3% in the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after buying an additional 414,802 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in IDEXX Laboratories by 37.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,429 shares of the company's stock valued at $452,046,000 after buying an additional 290,551 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $628.75 on Friday. The stock has a market capitalization of $50.30 billion, a PE ratio of 52.35, a price-to-earnings-growth ratio of 4.08 and a beta of 1.58. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The stock's 50-day moving average price is $639.88 and its 200 day moving average price is $540.49. 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 (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.35. The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Transactions at IDEXX Laboratories

In related news, CEO Jonathan Jay Mazelsky sold 29,260 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total value of $18,491,734.80. Following the transaction, the chief executive officer owned 83,311 shares in the company, valued at $52,650,885.78. The trade was a 25.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Sharon E. Underberg sold 5,450 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $651.60, for a total value of $3,551,220.00. Following the transaction, the executive vice president owned 6,156 shares in the company, valued at $4,011,249.60. The trade was a 46.96% decrease in their position. 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 company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IDXX. JPMorgan Chase & Co. raised their price objective on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a research report on Monday, August 4th. Weiss Ratings reiterated a "buy (b-)" rating on shares of IDEXX Laboratories in a research report on Wednesday. Wall Street Zen cut IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 28th. Finally, Morgan Stanley lifted their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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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