Lyell Wealth Management LP Boosts Stake in IDEXX Laboratories, Inc. $IDXX

Lyell Wealth Management LP increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,142 shares of the company's stock after buying an additional 677 shares during the period. Lyell Wealth Management LP's holdings in IDEXX Laboratories were worth $12,412,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IDXX. MorganRosel Wealth Management LLC bought a new stake in IDEXX Laboratories during the first quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new stake in IDEXX Laboratories during the second quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after acquiring an additional 30 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in IDEXX Laboratories during the second quarter worth approximately $36,000. Finally, WPG Advisers LLC bought a new stake in IDEXX Laboratories during the first quarter worth approximately $37,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $635.40 on Monday. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12. The stock has a market capitalization of $50.83 billion, a price-to-earnings ratio of 52.91, a P/E/G ratio of 4.11 and a beta of 1.58. The stock has a fifty day simple moving average of $639.99 and a two-hundred day simple moving average of $551.18. 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 issued its earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping 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 business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the prior year, the business earned $2.44 EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IDXX shares. Morgan Stanley boosted their price objective on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. Jefferies Financial Group started coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price on the stock. Wall Street Zen cut IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 28th. BTIG Research upped their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of IDEXX Laboratories in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $656.50.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP Michael Lane sold 8,411 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the sale, the executive vice president owned 7,132 shares of the company's stock, valued at approximately $4,477,041.68. This trade represents a 54.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director M Anne Szostak sold 2,187 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $647.33, for a total value of $1,415,710.71. Following the sale, the director directly owned 262 shares in the company, valued at $169,600.46. This trade represents a 89.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is owned by company insiders.

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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