Oak Hill Wealth Advisors LLC Buys Shares of 700 IDEXX Laboratories, Inc. $IDXX

Key Points

• Oak Hill Wealth Advisors LLC acquired a new stake in IDEXX Laboratories, Inc. by purchasing 700 shares, valued at around $377,000, during the second quarter.
• IDEXX Laboratories reported a strong quarterly performance with $3.63 EPS, exceeding analyst estimates by $0.35, and a revenue of $1.11 billion, marking a 10.6% increase year-over-year.
• Analysts are optimistic about IDEXX Laboratories, with most providing a consensus rating of "Moderate Buy" and an average target price of $656.50.

Oak Hill Wealth Advisors LLC bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 700 shares of the company's stock, valued at approximately $377,000.

A number of other hedge funds have also recently modified their holdings of IDXX. Mutual of America Capital Management LLC boosted its holdings in IDEXX Laboratories by 79.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company's stock worth $8,160,000 after buying an additional 8,609 shares during the period. Golden State Wealth Management LLC boosted its holdings in IDEXX Laboratories by 3,766.7% in the 1st quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock worth $49,000 after buying an additional 113 shares during the period. Plato Investment Management Ltd boosted its holdings in IDEXX Laboratories by 37.1% in the 1st quarter. Plato Investment Management Ltd now owns 3,087 shares of the company's stock worth $1,310,000 after buying an additional 835 shares during the period. Sagespring Wealth Partners LLC bought a new position in IDEXX Laboratories in the 1st quarter worth $229,000. Finally, Genesis Wealth Advisors LLC bought a new position in IDEXX Laboratories in the 2nd quarter worth $215,000. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Down 0.4%

Shares of NASDAQ IDXX opened at $631.19 on Friday. The firm's 50-day moving average price is $634.52 and its 200-day moving average price is $534.79. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $50.50 billion, a price-to-earnings ratio of 52.56, 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.

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

Insider Buying and Selling

In other IDEXX Laboratories news, EVP Michael G. Erickson sold 406 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total value of $263,883.76. Following the transaction, the executive vice president directly owned 11,287 shares in the company, valued at $7,336,098.52. This represents a 3.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Lane sold 8,411 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president owned 7,132 shares in the company, valued at $4,477,041.68. This represents a 54.11% 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 over the last three months. 0.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on IDXX shares. Leerink Partners upped their target price 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. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a report on Monday, August 4th. JPMorgan Chase & Co. increased their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. 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 report on Friday, August 15th. Finally, Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $656.50.

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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