Janney Montgomery Scott LLC Sells 8,459 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Janney Montgomery Scott LLC reduced its stake in IDEXX Laboratories by 19.3%, selling 8,459 shares during the second quarter, now owning a total of 35,327 shares valued at approximately $18.95 million.
• Analysts have set new price targets for IDEXX, with Piper Sandler raising its target from $510 to $700 and Jefferies issuing a "buy" rating with a target of $625.
• IDEXX Laboratories reported a 10.6% year-over-year revenue increase, with earnings per share of $3.63 for the last quarter, exceeding analyst expectations of $3.28.

Janney Montgomery Scott LLC lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 19.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,327 shares of the company's stock after selling 8,459 shares during the quarter. Janney Montgomery Scott LLC's holdings in IDEXX Laboratories were worth $18,947,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of IDEXX Laboratories by 1.5% in the 1st 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 boosted its stake in shares of IDEXX Laboratories by 71.0% in the 1st 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. boosted its stake in shares of IDEXX Laboratories by 0.5% in the 1st 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 position in shares of IDEXX Laboratories by 58.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after acquiring an additional 414,802 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of IDEXX Laboratories by 37.0% in the 1st 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 acquiring an additional 290,551 shares during the period. Institutional investors own 87.84% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler reiterated a "neutral" rating and issued a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target on the stock. Wall Street Zen downgraded shares of IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 28th. Leerink Partners raised their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, BTIG Research raised their target price on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, IDEXX Laboratories has a consensus rating of "Moderate Buy" and a consensus target price of $656.50.

IDEXX Laboratories Stock Up 2.2%

IDXX opened at $633.84 on Friday. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two 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 company has a market capitalization of $50.71 billion, a P/E ratio of 52.78, a P/E/G ratio of 4.02 and a beta of 1.58. The stock has a fifty day moving average of $633.20 and a 200-day moving average of $533.33.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping analysts' consensus estimates of $3.28 by $0.35. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The company's revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, equities analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 7,143 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president owned 18,007 shares of the company's stock, valued at approximately $11,352,153.01. The trade was a 28.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director M Anne Szostak sold 2,187 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $647.33, for a total value of $1,415,710.71. Following the transaction, the director directly owned 262 shares of the company's stock, valued at approximately $169,600.46. The trade was a 89.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,057 shares of company stock valued at $34,293,468 over the last 90 days. 0.98% of the stock is owned by company insiders.

IDEXX Laboratories Company 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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