Norden Group LLC Buys 3,313 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Norden Group LLC significantly increased its stake in IDEXX Laboratories by purchasing an additional 3,313 shares, bringing its total holdings to 3,883 shares valued at approximately $2,083,000.
• IDEXX Laboratories has received updated price targets from several analysts, with Piper Sandler rating it as "neutral" at $700.00 and BTIG Research setting a target of $785.00.
• In a recent quarterly report, IDEXX Laboratories reported an earnings per share of $3.63, exceeding estimates and showing a 10.6% increase in revenue compared to the previous year.

Norden Group LLC increased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 581.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,883 shares of the company's stock after purchasing an additional 3,313 shares during the period. Norden Group LLC's holdings in IDEXX Laboratories were worth $2,083,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mutual of America Capital Management LLC grew its holdings in IDEXX Laboratories by 79.6% during the first quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company's stock worth $8,160,000 after purchasing an additional 8,609 shares during the period. Golden State Wealth Management LLC grew its holdings in IDEXX Laboratories by 3,766.7% during the first quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock worth $49,000 after purchasing an additional 113 shares during the period. Sagespring Wealth Partners LLC bought a new position in IDEXX Laboratories during the first quarter worth about $229,000. Plato Investment Management Ltd grew its holdings in IDEXX Laboratories by 37.1% during the first quarter. Plato Investment Management Ltd now owns 3,087 shares of the company's stock worth $1,310,000 after purchasing an additional 835 shares during the period. Finally, Inspire Investing LLC grew its holdings in IDEXX Laboratories by 34.4% during the first quarter. Inspire Investing LLC now owns 13,577 shares of the company's stock worth $5,702,000 after purchasing an additional 3,472 shares during the period. Institutional investors own 87.84% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Piper Sandler restated a "neutral" rating and set a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price on the stock. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a research report on Monday, August 4th. 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 report on Tuesday, August 5th. Finally, Leerink Partners upped their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $649.44.

Insider Activity at IDEXX Laboratories

In related news, EVP Sharon E. Underberg sold 5,450 shares of the stock in a transaction on 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 completion of the sale, the executive vice president directly owned 6,156 shares in the company, valued at $4,011,249.60. This represents a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 completion of the sale, the director owned 262 shares of the company's stock, valued at $169,600.46. The trade was a 89.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is owned by company insiders.

IDEXX Laboratories Stock Up 0.7%

Shares of NASDAQ:IDXX opened at $648.38 on Wednesday. The company has a fifty day moving average of $619.13 and a 200-day moving average of $523.97. The company has a market capitalization of $51.87 billion, a PE ratio of 53.99, a price-to-earnings-growth ratio of 4.17 and a beta of 1.56. 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 52-week low of $356.14 and a 52-week high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.35. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

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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