Rafferty Asset Management LLC Sells 3,156 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Rafferty Asset Management LLC reduced its stake in IDEXX Laboratories by 7.7%, selling 3,156 shares and holding a total of 37,744 shares valued at approximately $15.85 million.
• IDEXX Laboratories reported a 10.6% increase in year-over-year revenue, with earnings per share of $3.63 for the last quarter, surpassing analysts' expectations.
• Institutional investors own 87.84% of IDEXX Laboratories, indicating strong institutional support for the company, with multiple firms adjusting their stakes in recent months.

Rafferty Asset Management LLC reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 7.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,744 shares of the company's stock after selling 3,156 shares during the quarter. Rafferty Asset Management LLC's holdings in IDEXX Laboratories were worth $15,851,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IDXX. GAMMA Investing LLC lifted its stake in shares of IDEXX Laboratories by 59,810.7% in the first quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock worth $3,856,950,000 after acquiring an additional 916,898 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in IDEXX Laboratories by 71.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock worth $835,244,000 after purchasing an additional 825,965 shares in the last quarter. Nuveen LLC bought a new stake in IDEXX Laboratories in the first quarter worth approximately $179,784,000. Principal Financial Group Inc. increased its holdings in IDEXX Laboratories by 58.3% in the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock worth $472,865,000 after purchasing an additional 414,802 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in IDEXX Laboratories in the fourth quarter worth approximately $156,412,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on IDXX. Piper Sandler reiterated a "neutral" rating and issued a $700.00 target price (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Leerink Partners lifted their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. lifted their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Finally, BTIG Research lifted their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $649.44.

IDEXX Laboratories Stock Up 0.0%

Shares of NASDAQ IDXX traded up $0.06 during midday trading on Friday, hitting $647.09. 304,946 shares of the stock traded hands, compared to its average volume of 714,037. The company has a market cap of $51.77 billion, a PE ratio of 53.88, a P/E/G ratio of 4.19 and a beta of 1.49. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $688.12. The business has a 50 day moving average price of $582.04 and a two-hundred day moving average price of $500.48. 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 (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. 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 the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company posted $2.44 earnings per share. IDEXX Laboratories's revenue 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, equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 1,200 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $656.53, for a total transaction of $787,836.00. Following the completion of the sale, the executive vice president owned 16,807 shares in the company, valued at approximately $11,034,299.71. This represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director M Anne Szostak sold 2,187 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total value of $1,415,710.71. Following the completion of the transaction, the director directly owned 262 shares in the company, valued at approximately $169,600.46. This represents a 89.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,057 shares of company stock valued at $34,293,468 in the last three months. Insiders own 0.98% of the company's stock.

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.