Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Decreases Stock Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its stake in IDEXX Laboratories, Inc. by 1.6%, owning approximately 131,683 shares valued at $70.6 million after selling 2,092 shares.
• Several institutional investors, including Vanguard Group and Price T Rowe Associates, have increased their holdings in IDEXX Laboratories, with 87.84% of the stock currently owned by hedge funds.
• IDEXX Laboratories reported an earnings per share (EPS) of $3.63 for the last quarter, surpassing analysts' expectations and demonstrating a 10.6% increase in revenue year-over-year.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,683 shares of the company's stock after selling 2,092 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.16% of IDEXX Laboratories worth $70,627,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IDXX. Vanguard Group Inc. raised its stake in IDEXX Laboratories by 1.5% in the first quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company's stock valued at $4,139,001,000 after buying an additional 146,427 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in IDEXX Laboratories by 71.0% in 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 buying an additional 825,965 shares in the last quarter. Invesco Ltd. raised its stake in IDEXX Laboratories by 0.5% in the first quarter. Invesco Ltd. now owns 1,166,406 shares of the company's stock valued at $489,832,000 after buying an additional 5,418 shares in the last quarter. Principal Financial Group Inc. raised its stake in IDEXX Laboratories by 58.3% in the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after buying an additional 414,802 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in IDEXX Laboratories by 37.0% in 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 buying an additional 290,551 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IDXX has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of IDEXX Laboratories in a research note on Wednesday, October 8th. BTIG Research raised their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a research note on Monday, August 4th. Finally, Morgan Stanley lifted their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $656.50.

Insider Transactions at IDEXX Laboratories

In related news, EVP Sharon E. Underberg sold 5,450 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $651.60, for a total value of $3,551,220.00. Following the transaction, the executive vice president owned 6,156 shares in the company, valued at $4,011,249.60. The trade was a 46.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $631.98, for a total value of $18,491,734.80. Following the completion of the transaction, the chief executive officer owned 83,311 shares in the company, valued at $52,650,885.78. This trade represents a 25.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,057 shares of company stock worth $34,293,468 over the last three months. 0.98% of the stock is currently owned by company insiders.

IDEXX Laboratories Stock Down 0.5%

IDXX opened at $633.78 on Thursday. The business's 50-day simple moving average is $638.91 and its 200-day simple moving average is $554.07. 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 one year low of $356.14 and a one year high of $688.12. The stock has a market capitalization of $50.70 billion, a P/E ratio of 52.77, a price-to-earnings-growth ratio of 4.12 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its 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 for the quarter, compared to analysts' expectations of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The business's revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

About IDEXX Laboratories

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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