Korea Investment CORP Sells 6,318 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Korea Investment CORP has reduced its stake in IDEXX Laboratories, Inc. by 10.4%, selling 6,318 shares to hold a total of 54,599 shares valued at approximately $22.9 million.
• IDEXX Laboratories reported a 10.6% increase in revenue for the quarter, totaling $1.11 billion, and earnings per share of $3.63, exceeding analysts' estimates.
• Institutional investors now hold 87.84% of IDEXX's stock, with several firms like Sage Mountain Advisors and PDS Planning increasing their stakes during the first quarter.

Korea Investment CORP lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 10.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,599 shares of the company's stock after selling 6,318 shares during the period. Korea Investment CORP owned 0.07% of IDEXX Laboratories worth $22,929,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories in the first quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of IDEXX Laboratories by 55.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after purchasing an additional 30 shares in the last quarter. Colonial Trust Co SC increased its holdings in shares of IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after purchasing an additional 39 shares in the last quarter. Bank of Jackson Hole Trust increased its holdings in shares of IDEXX Laboratories by 328.6% in the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock valued at $39,000 after purchasing an additional 69 shares in the last quarter. Finally, Itau Unibanco Holding S.A. increased its holdings 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 in the last quarter. Institutional investors own 87.84% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on IDXX shares. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Leerink Partners raised their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Morgan Stanley raised their price target 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. 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 report on Monday, August 4th. Finally, Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $649.44.

Insider Activity at IDEXX Laboratories

In other news, EVP Michael G. Erickson sold 406 shares of IDEXX Laboratories stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total transaction of $263,883.76. Following the transaction, the executive vice president directly owned 11,287 shares of the company's stock, valued at $7,336,098.52. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nimrata Hunt sold 7,143 shares of IDEXX Laboratories stock in a transaction on 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 transaction, the executive vice president directly owned 18,007 shares in the company, valued at approximately $11,352,153.01. This represents a 28.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,870 shares of company stock valued at $32,877,757. 0.98% of the stock is owned by corporate insiders.

IDEXX Laboratories Trading Down 0.6%

Shares of NASDAQ IDXX traded down $4.1050 during midday trading on Monday, reaching $641.4450. 167,485 shares of the stock were exchanged, compared to its average volume of 718,319. The business has a 50-day simple moving average of $569.94 and a two-hundred day simple moving average of $494.38. The company has a market capitalization of $51.32 billion, a price-to-earnings ratio of 53.41, a P/E/G ratio of 4.18 and a beta of 1.49. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly 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 for 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 business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, equities research analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

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.