IDEXX Laboratories, Inc. $IDXX Shares Purchased by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC increased its stake in IDEXX Laboratories by 906.7% in Q1, owning 17,759 shares worth approximately $7.46 million.
• IDEXX Laboratories reported Q2 earnings of $3.63 per share, surpassing estimates by $0.35, with a revenue of $1.11 billion, up 10.6% year-over-year.
• Recent stock sales by executives indicate a 25.99% reduction in the CEO's stake, raising potential concerns around insider confidence.

Kovitz Investment Group Partners LLC lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 906.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,759 shares of the company's stock after acquiring an additional 15,995 shares during the period. Kovitz Investment Group Partners LLC's holdings in IDEXX Laboratories were worth $7,458,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new position in shares of IDEXX Laboratories in the first quarter valued at approximately $26,000. Colonial Trust Co SC raised its holdings in IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after acquiring an additional 39 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after purchasing an additional 30 shares during the period. Bank of Jackson Hole Trust boosted its holdings in shares of IDEXX Laboratories by 328.6% during the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after purchasing an additional 69 shares during the last quarter. Finally, Itau Unibanco Holding S.A. grew its position in shares of IDEXX Laboratories by 540.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock valued at $40,000 after purchasing an additional 81 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

Analysts Set New Price Targets

IDXX has been the topic of several recent analyst reports. Piper Sandler reiterated a "neutral" rating and set a $700.00 target price (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a research report on Monday, August 4th. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. 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 on the stock. Finally, JPMorgan Chase & Co. boosted their price target on 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 assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $649.44.

IDEXX Laboratories Stock Down 0.7%

Shares of IDXX stock traded down $4.2350 on Thursday, hitting $635.6150. The stock had a trading volume of 64,033 shares, compared to its average volume of 722,773. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The firm has a market capitalization of $50.85 billion, a price-to-earnings ratio of 52.92, a P/E/G ratio of 4.12 and a beta of 1.49. The stock's 50 day moving average is $565.36 and its 200-day moving average is $491.59.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating 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 company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm earned $2.44 earnings per share. The company's revenue was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Activity at IDEXX Laboratories

In other news, EVP Michael G. Erickson sold 406 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total value of $263,883.76. Following the transaction, the executive vice president directly owned 11,287 shares in the company, valued at approximately $7,336,098.52. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of the company's 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 transaction, the chief executive officer directly owned 83,311 shares of the company's stock, valued at $52,650,885.78. This trade represents a 25.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,870 shares of company stock valued at $32,877,757 in the last ninety days. 0.98% of the stock is owned by insiders.

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.