Lazard Freres Gestion S.A.S. Buys 9,671 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Lazard Freres Gestion S.A.S. increased its stake in IDEXX Laboratories by 11.9% in Q2, acquiring an additional 9,671 shares to own 90,904 shares total, which constitutes 1.2% of its portfolio.
• Insider activity included sales from EVP Nimrata Hunt and Director M Anne Szostak, with the two selling a combined total of over 3,000 shares valued at approximately $2.2 million.
• IDEXX reported a quarterly revenue of $1.11 billion, exceeding analysts' expectations, while also raising its FY 2025 earnings guidance to between $12.400 and $12.760 EPS.

Lazard Freres Gestion S.A.S. boosted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 11.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,904 shares of the company's stock after acquiring an additional 9,671 shares during the quarter. IDEXX Laboratories accounts for 1.2% of Lazard Freres Gestion S.A.S.'s portfolio, making the stock its 28th largest position. Lazard Freres Gestion S.A.S. owned approximately 0.11% of IDEXX Laboratories worth $48,755,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new stake in IDEXX Laboratories during the 1st quarter worth about $26,000. Opal Wealth Advisors LLC bought a new stake in IDEXX Laboratories during the 2nd quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after buying an additional 30 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in IDEXX Laboratories during the 2nd quarter worth about $36,000. Finally, WPG Advisers LLC bought a new stake in IDEXX Laboratories during the 1st quarter worth about $37,000. 87.84% of the stock is owned by institutional investors.

Insider Activity at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 1,200 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $656.53, for a total value of $787,836.00. Following the completion of the transaction, the executive vice president directly 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director M Anne Szostak sold 2,187 shares of the business'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 sale, the director directly owned 262 shares of the company's stock, valued at $169,600.46. This represents 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 worth $34,293,468 in the last ninety days. 0.98% of the stock is currently owned by company insiders.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $638.60 on Friday. The company has a 50 day moving average of $638.60 and a 200 day moving average of $555.86. The stock has a market cap of $51.09 billion, a P/E ratio of 53.17, a P/E/G ratio of 4.10 and a beta of 1.58. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.35. The business 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 business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 28th. 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 price target for the company. Leerink Partners upped their price target 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. Morgan Stanley increased their price objective on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research note on Friday, August 15th. Finally, UBS Group began coverage on shares of IDEXX Laboratories in a research note on Wednesday, October 1st. They set a "neutral" rating and a $720.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $656.50.

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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