Insight Wealth Strategies LLC Decreases Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Insight Wealth Strategies LLC reduced its stake in IDEXX Laboratories by 13.3% in Q2, owning 8,660 shares valued at approximately $4.7 million after selling 1,332 shares during the period.
• Notable hedge funds like Vanguard Group and Price T Rowe Associates increased their holdings in IDEXX Laboratories, highlighting a strong interest among institutional investors.
• IDEXX Laboratories reported $3.63 EPS for the last quarter, surpassing analyst expectations of $3.28, with revenue also exceeding estimates, indicating solid financial performance.

Insight Wealth Strategies LLC trimmed its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 13.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,660 shares of the company's stock after selling 1,332 shares during the period. Insight Wealth Strategies LLC's holdings in IDEXX Laboratories were worth $4,699,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of IDEXX Laboratories by 1.5% during the first quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company's stock valued at $4,139,001,000 after purchasing an additional 146,427 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 valued at $835,244,000 after purchasing an additional 825,965 shares during the last quarter. Invesco Ltd. raised its holdings in shares of IDEXX Laboratories by 0.5% during the first quarter. Invesco Ltd. now owns 1,166,406 shares of the company's stock valued at $489,832,000 after purchasing an additional 5,418 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of IDEXX Laboratories by 58.3% during the first 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 raised its holdings 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 valued at $452,046,000 after purchasing an additional 290,551 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 7,143 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the completion of the transaction, the executive vice president directly owned 18,007 shares of the company's stock, valued at approximately $11,352,153.01. This trade represents a 28.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director M Anne Szostak sold 2,187 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the transaction, the director directly owned 262 shares of the company's stock, valued at $169,600.46. The trade was a 89.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,057 shares of company stock valued at $34,293,468 in the last ninety days. Corporate insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $641.14 on Friday. The firm has a fifty day moving average price of $603.59 and a 200-day moving average price of $513.68. 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 stock has a market cap of $51.29 billion, a PE ratio of 53.38, a price-to-earnings-growth ratio of 4.18 and a beta of 1.56. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $688.12.

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 analysts' consensus estimates of $3.28 by $0.35. The firm had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on IDXX. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a report on Monday, August 4th. JPMorgan Chase & Co. upped their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Piper Sandler reaffirmed a "neutral" rating and set a $700.00 target price (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Morgan Stanley upped their target price on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a report on Friday, August 15th. Finally, BTIG Research upped their target price on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. One 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $649.44.

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.

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