Madrona Financial Services LLC Takes $224,000 Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Madrona Financial Services LLC acquired a new stake in IDEXX Laboratories, Inc. valued at approximately $224,000, with 417 shares added during the second quarter.
• A significant 87.84% of IDEXX's stock is currently owned by institutional investors, with multiple hedge funds increasing their positions in the company.
• IDEXX Laboratories reported a quarterly earnings beat, with $3.63 earnings per share, surpassing analyst expectations of $3.28.

Madrona Financial Services LLC acquired a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 417 shares of the company's stock, valued at approximately $224,000.

A number of other hedge funds have also added to or reduced their stakes in IDXX. MorganRosel Wealth Management LLC bought a new stake in IDEXX Laboratories during the 1st quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new stake in IDEXX Laboratories in the second quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings 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 acquiring an additional 30 shares in the last quarter. WPG Advisers LLC bought a new stake in shares of IDEXX Laboratories in the 1st quarter valued at about $37,000. Finally, Bank of Jackson Hole Trust lifted its position in shares of IDEXX Laboratories by 328.6% in the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after purchasing an additional 69 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Piper Sandler restated a "neutral" rating and set a $700.00 target price (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Wall Street Zen downgraded IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a report on Monday, August 4th. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $656.50.

Insider Activity

In other news, EVP Michael G. Erickson sold 406 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were 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 $7,336,098.52. This represents a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sharon E. Underberg sold 5,450 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the transaction, the executive vice president directly owned 6,156 shares of the company's stock, valued at approximately $4,011,249.60. This trade represents a 46.96% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is owned by insiders.

IDEXX Laboratories Trading Down 2.9%

Shares of IDEXX Laboratories stock opened at $620.11 on Thursday. The firm's 50 day simple moving average is $631.52 and its two-hundred day simple moving average is $531.87. The firm has a market capitalization of $49.61 billion, a price-to-earnings ratio of 51.63, a PEG ratio of 4.14 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 announced its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates 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 in the previous year, the company earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

IDEXX Laboratories 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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