OFI Invest Asset Management Has $132,000 Stake in IDEXX Laboratories, Inc. $IDXX

Key Points

• OFI Invest Asset Management significantly reduced its stake in IDEXX Laboratories by 94.9% in the 2nd quarter, now holding only 246 shares valued at $132,000.
• Analysts have raised their price targets for IDEXX Laboratories, with Morgan Stanley increasing its target from $722 to $765 and BTIG Research lifting it from $545 to $785, reflecting a positive outlook.
• Insider selling at IDEXX has been notable, with significant transactions including EVP Michael Lane selling 8,411 shares for over $5.2 million, reducing his ownership by 54.11%.

OFI Invest Asset Management decreased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 94.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 246 shares of the company's stock after selling 4,576 shares during the quarter. OFI Invest Asset Management's holdings in IDEXX Laboratories were worth $132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of IDXX. GAMMA Investing LLC grew its position in shares of IDEXX Laboratories by 42.7% during the 1st quarter. GAMMA Investing LLC now owns 2,187 shares of the company's stock worth $918,000 after buying an additional 654 shares during the period. CX Institutional acquired a new stake in shares of IDEXX Laboratories during the 1st quarter worth approximately $215,000. Simon Quick Advisors LLC acquired a new stake in shares of IDEXX Laboratories during the 1st quarter worth approximately $360,000. Fifth Third Bancorp grew its position in shares of IDEXX Laboratories by 102.2% during the 1st quarter. Fifth Third Bancorp now owns 6,075 shares of the company's stock worth $2,551,000 after buying an additional 3,071 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of IDEXX Laboratories by 13.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company's stock worth $10,731,000 after buying an additional 2,931 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

Wall Street Analyst Weigh In

IDXX has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. BTIG Research lifted their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Weiss Ratings reissued a "buy (b-)" rating on shares of IDEXX Laboratories in a research report on Wednesday, October 8th. Leerink Partners lifted their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. lifted their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $656.50.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Michael Lane sold 8,411 shares of the firm's 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 transaction, the executive vice president directly owned 7,132 shares in the company, 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 is accessible through the SEC website. Also, Director M Anne Szostak sold 2,187 shares of the firm's 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 transaction, the director owned 262 shares in the company, valued at approximately $169,600.46. This trade represents a 89.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $616.15 on Monday. 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's fifty day simple moving average is $641.49 and its two-hundred day simple moving average is $543.56. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. The stock has a market cap of $49.29 billion, a PE ratio of 51.30, a price-to-earnings-growth ratio of 3.99 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $1.06 billion. During the same period last year, the business earned $2.44 EPS. The business's revenue was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal 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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