Lantz Financial LLC Buys Shares of 394 IDEXX Laboratories, Inc. $IDXX

Key Points

• Lantz Financial LLC invested approximately $211,000 in IDEXX Laboratories, acquiring 394 shares in the second quarter.
• Various institutional investors have increased their stakes in IDEXX, with total institutional ownership reaching 87.84%.
• IDEXX Laboratories reported a 10.6% increase in year-over-year revenue and exceeded analyst expectations with $3.63 EPS for the last quarter.

Lantz Financial LLC bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 394 shares of the company's stock, valued at approximately $211,000.

A number of other large investors also recently modified their holdings of the business. Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of IDEXX Laboratories in the second quarter valued at $147,000. Diversified Trust Co raised its stake in IDEXX Laboratories by 56.4% during the second quarter. Diversified Trust Co now owns 2,358 shares of the company's stock worth $1,265,000 after acquiring an additional 850 shares in the last quarter. Grove Bank & Trust raised its stake in IDEXX Laboratories by 7,756.8% during the second quarter. Grove Bank & Trust now owns 2,907 shares of the company's stock worth $1,559,000 after acquiring an additional 2,870 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in IDEXX Laboratories during the second quarter worth $1,320,000. Finally, Western Pacific Wealth Management LP raised its stake in IDEXX Laboratories by 10.2% during the second quarter. Western Pacific Wealth Management LP now owns 334 shares of the company's stock worth $179,000 after acquiring an additional 31 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price on the stock. Piper Sandler reiterated a "neutral" rating and issued a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Morgan Stanley raised their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a report on Friday, August 15th. Leerink Partners raised their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. raised their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the stock 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 assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, IDEXX Laboratories currently has a consensus rating of "Moderate Buy" and a consensus target price of $649.44.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock traded up $1.72 during trading on Tuesday, reaching $645.82. 114,077 shares of the company's stock were exchanged, compared to its average volume of 685,648. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. The company has a market cap of $51.67 billion, a P/E ratio of 53.74, a PEG ratio of 4.25 and a beta of 1.56. The firm's 50-day moving average price is $616.70 and its 200 day moving average price is $523.10.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly 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 analysts' expectations of $1.06 billion. During the same quarter in the prior year, the firm posted $2.44 earnings per share. The business's quarterly 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 anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Nimrata Hunt sold 1,200 shares of IDEXX Laboratories stock in a transaction on Monday, August 11th. The stock was sold at an average price of $656.53, for a total transaction of $787,836.00. Following the completion of the sale, the executive vice president owned 16,807 shares of the company's stock, valued at approximately $11,034,299.71. This trade represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael G. Erickson sold 406 shares of IDEXX Laboratories stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $649.96, for a total value of $263,883.76. Following the sale, the executive vice president directly owned 11,287 shares of the company's stock, valued at approximately $7,336,098.52. This trade represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,057 shares of company stock valued at $34,293,468. Company insiders own 0.98% of the company's stock.

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.