IDEXX Laboratories, Inc. $IDXX Stock Holdings Cut by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its position in IDEXX Laboratories, Inc. by 8.2%, owning 119,187 shares after selling 10,715 shares in the first quarter.
• Insider trading activity saw EVP Nimrata Hunt and CEO Jonathan Jay Mazelsky sell a combined total of 36,403 shares, indicating a significant decrease in their ownership stakes.
• IDEXX Laboratories reported $3.63 EPS for the last quarter, surpassing expectations, and set its FY 2025 guidance at 12.400-12.760 EPS.

Kayne Anderson Rudnick Investment Management LLC reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 8.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 119,187 shares of the company's stock after selling 10,715 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.15% of IDEXX Laboratories worth $50,053,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IDXX. TD Waterhouse Canada Inc. boosted its stake in IDEXX Laboratories by 34.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 511 shares of the company's stock valued at $211,000 after purchasing an additional 132 shares in the last quarter. Nebula Research & Development LLC bought a new stake in shares of IDEXX Laboratories during the 4th quarter worth $782,000. Tri Locum Partners LP bought a new stake in shares of IDEXX Laboratories during the 4th quarter worth $18,593,000. Quarry LP bought a new stake in shares of IDEXX Laboratories during the 4th quarter worth $49,000. Finally, Northern Trust Corp boosted its stake in shares of IDEXX Laboratories by 18.6% during the 4th quarter. Northern Trust Corp now owns 912,874 shares of the company's stock worth $377,419,000 after acquiring an additional 143,369 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

Insider Activity at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 7,143 shares of the business's 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $631.98, for a total value of $18,491,734.80. Following the sale, the chief executive officer directly owned 83,311 shares in the company, valued at $52,650,885.78. The trade was a 25.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,870 shares of company stock valued at $32,877,757. Insiders own 0.98% of the company's stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $645.55 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $688.12. The business has a fifty day simple moving average of $569.94 and a 200 day simple moving average of $494.38. The firm has a market cap of $51.64 billion, a price-to-earnings ratio of 53.75, a P/E/G ratio of 4.18 and a beta of 1.49.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned $2.44 earnings per share. IDEXX Laboratories'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 predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IDXX has been the subject of several research reports. BTIG Research raised their price objective on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Morgan Stanley raised their price objective on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. Stifel Nicolaus set a $640.00 price objective on IDEXX Laboratories in a research note on Monday, August 4th. 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 research note on Monday, August 4th. Finally, Jefferies Financial Group began coverage on IDEXX Laboratories in a 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, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, IDEXX Laboratories has an average rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.