IDEXX Laboratories, Inc. $IDXX Shares Sold by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue decreased its holdings in IDEXX Laboratories, Inc. by 5.8%, owning 9,032 shares worth approximately $4.84 million after selling 555 shares in the second quarter.
• Analysts are optimistic about IDEXX Laboratories, with several raising their price targets; Morgan Stanley set a new target at $765.00, while the average target price is around $649.44.
• Insider transactions included Director M Anne Szostak selling 2,187 shares for over $1.4 million, leading to a significant reduction in her ownership of the stock.

State of Alaska Department of Revenue lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 5.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 9,032 shares of the company's stock after selling 555 shares during the quarter. State of Alaska Department of Revenue's holdings in IDEXX Laboratories were worth $4,844,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of IDEXX Laboratories by 1.5% in the 1st 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 increased its position in IDEXX Laboratories by 71.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock worth $835,244,000 after buying an additional 825,965 shares during the period. Invesco Ltd. lifted 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 during the last quarter. Principal Financial Group Inc. raised its position in IDEXX Laboratories by 58.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after purchasing an additional 414,802 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of IDEXX Laboratories by 37.0% during 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 worth $452,046,000 after buying an additional 290,551 shares during the period. Hedge funds and other institutional investors own 87.84% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on IDXX shares. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a research note on Monday, August 4th. Morgan Stanley boosted their target price on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. Leerink Partners increased their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. boosted their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $649.44.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 2,187 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $647.33, for a total value of $1,415,710.71. Following the transaction, the director directly owned 262 shares of the company's stock, valued at $169,600.46. This trade represents a 89.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 on Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total transaction of $263,883.76. Following the sale, the executive vice president directly owned 11,287 shares of the company's stock, valued at approximately $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 sold 54,057 shares of company stock worth $34,293,468 in the last quarter. 0.98% of the stock is owned by corporate insiders.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $630.56 on Tuesday. The firm's 50 day moving average is $627.80 and its two-hundred day moving average is $530.50. 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 quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The company has a market cap of $50.45 billion, a P/E ratio of 52.50, a P/E/G ratio of 4.09 and a beta of 1.56.

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