In Depth Partners LLC Sells 4,710 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• In Depth Partners LLC sold 4,710 shares of IDEXX Laboratories, reducing its holdings by 57.5%, and now owns 3,488 shares valued at approximately $1.47 million.
• IDEXX Laboratories CEO Jonathan Jay Mazelsky sold 29,260 shares valued at over $18.4 million, decreasing his ownership by 25.99% to around 83,311 shares.
• IDEXX Laboratories reported $3.63 EPS for the latest quarter, exceeding analyst expectations and marking a year-over-year revenue increase of 10.6%.

In Depth Partners LLC reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 57.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,488 shares of the company's stock after selling 4,710 shares during the period. IDEXX Laboratories accounts for about 1.7% of In Depth Partners LLC's holdings, making the stock its 12th biggest position. In Depth Partners LLC's holdings in IDEXX Laboratories were worth $1,465,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sage Mountain Advisors LLC raised its stake in shares of IDEXX Laboratories by 3.8% during the first quarter. Sage Mountain Advisors LLC now owns 635 shares of the company's stock worth $267,000 after acquiring an additional 23 shares in the last quarter. PDS Planning Inc raised its stake in shares of IDEXX Laboratories by 3.9% during the first quarter. PDS Planning Inc now owns 641 shares of the company's stock worth $269,000 after acquiring an additional 24 shares in the last quarter. King Luther Capital Management Corp raised its stake in shares of IDEXX Laboratories by 0.5% during the first quarter. King Luther Capital Management Corp now owns 4,896 shares of the company's stock worth $2,056,000 after acquiring an additional 24 shares in the last quarter. Bigelow Investment Advisors LLC raised its stake in shares of IDEXX Laboratories by 1.9% during the first quarter. Bigelow Investment Advisors LLC now owns 1,420 shares of the company's stock worth $596,000 after acquiring an additional 27 shares in the last quarter. Finally, Wedbush Securities Inc. raised its stake in shares of IDEXX Laboratories by 1.3% during the first quarter. Wedbush Securities Inc. now owns 2,145 shares of the company's stock worth $901,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP Sharon E. Underberg sold 5,450 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the sale, the executive vice president owned 6,156 shares in the company, valued at approximately $4,011,249.60. The trade was a 46.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Lane sold 8,411 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the sale, the executive vice president owned 7,132 shares in the company, valued at approximately $4,477,041.68. This trade represents a 54.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on IDXX shares. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a research note on Monday, August 4th. Finally, BTIG Research lifted their target price on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $649.44.

IDEXX Laboratories Trading Up 0.1%

IDEXX Laboratories stock traded up $0.37 during mid-day trading on Tuesday, reaching $641.72. 416,541 shares of the company traded hands, compared to its average volume of 782,970. 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's 50 day moving average price is $574.61 and its 200 day moving average price is $496.67. The firm has a market capitalization of $51.34 billion, a price-to-earnings ratio of 53.43, a P/E/G ratio of 4.15 and a beta of 1.49. 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 issued its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

IDEXX Laboratories 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.