IDEXX Laboratories, Inc. $IDXX Stock Position Lowered by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments has reduced its position in IDEXX Laboratories by 3.5%, now holding 32,304 shares worth approximately $17.3 million.
• IDEXX Laboratories reported a 10.6% year-over-year increase in quarterly revenue, amounting to $1.11 billion, and exceeded EPS estimates by $0.35.
• Despite recent insider selling, analysts remain optimistic, with a consensus rating of "Moderate Buy" and a price target of $656.50.

Mirae Asset Global Investments Co. Ltd. lessened its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,304 shares of the company's stock after selling 1,173 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in IDEXX Laboratories were worth $17,326,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Red Spruce Capital LLC lifted its position in shares of IDEXX Laboratories by 1.1% in the 2nd quarter. Red Spruce Capital LLC now owns 1,701 shares of the company's stock valued at $912,000 after acquiring an additional 19 shares in the last quarter. Rise Advisors LLC lifted its position in shares of IDEXX Laboratories by 3.9% in the 2nd quarter. Rise Advisors LLC now owns 562 shares of the company's stock valued at $301,000 after acquiring an additional 21 shares in the last quarter. Sage Mountain Advisors LLC lifted its position in shares of IDEXX Laboratories by 3.8% in the 1st quarter. Sage Mountain Advisors LLC now owns 635 shares of the company's stock valued at $267,000 after acquiring an additional 23 shares in the last quarter. Great Lakes Advisors LLC lifted its position in shares of IDEXX Laboratories by 0.9% in the 1st quarter. Great Lakes Advisors LLC now owns 2,567 shares of the company's stock valued at $1,078,000 after acquiring an additional 23 shares in the last quarter. Finally, PDS Planning Inc lifted its position in shares of IDEXX Laboratories by 3.9% in the 1st quarter. PDS Planning Inc now owns 641 shares of the company's stock valued at $269,000 after acquiring an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $631.19 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. The firm has a market capitalization of $50.50 billion, a price-to-earnings ratio of 52.56, a P/E/G ratio of 4.09 and a beta of 1.58. The company's fifty day moving average is $634.52 and its two-hundred day moving average is $535.57. 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 posted its quarterly earnings results 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. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business's quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Buying and Selling

In other IDEXX Laboratories news, EVP Michael Lane sold 8,411 shares of the firm's stock in a transaction 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 sale, the executive vice president directly owned 7,132 shares in the company, valued at $4,477,041.68. This trade represents a 54.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael G. Erickson sold 406 shares of IDEXX Laboratories stock in a transaction dated 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 owned 11,287 shares in the company, valued at approximately $7,336,098.52. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IDXX. BTIG Research increased their target price on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Leerink Partners increased their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Wall Street Zen downgraded shares of IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 28th. Weiss Ratings reiterated a "buy (b-)" rating on shares of IDEXX Laboratories in a research report on Saturday, September 27th. Finally, UBS Group began coverage on shares of IDEXX Laboratories in a research report on Wednesday. They issued a "neutral" rating and a $720.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, IDEXX Laboratories presently has an average rating of "Moderate Buy" and a consensus price target of $656.50.

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.

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