Riverbridge Partners LLC Lowers Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Riverbridge Partners LLC reduced its stake in IDEXX Laboratories by 3.1%, owning 99,330 shares valued at approximately $53.3 million after selling 3,162 shares in Q2.
• IDEXX Laboratories reported a 10.6% year-over-year increase in revenue for the last quarter, totaling $1.11 billion, and exceeded earnings expectations with $3.63 EPS.
• Analysts have raised their price targets for IDEXX Laboratories, with ratings ranging from "Overweight" to "Buy," and an average price target of $649.44.

Riverbridge Partners LLC decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 3.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,330 shares of the company's stock after selling 3,162 shares during the period. Riverbridge Partners LLC owned approximately 0.12% of IDEXX Laboratories worth $53,275,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the first quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new position in shares of IDEXX Laboratories in the second quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of IDEXX Laboratories by 55.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after buying an additional 30 shares during the period. WPG Advisers LLC purchased a new position in shares of IDEXX Laboratories in the first quarter worth about $37,000. Finally, Bank of Jackson Hole Trust increased its holdings in shares of IDEXX Laboratories by 328.6% in the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $627.17 on Thursday. The stock's 50 day simple moving average is $621.26 and its two-hundred day simple moving average is $524.68. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The stock has a market cap of $50.17 billion, a price-to-earnings ratio of 52.22, a PEG ratio of 4.20 and a beta of 1.56. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week 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, beating the consensus estimate of $3.28 by $0.35. The business had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The business's revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Michael G. Erickson sold 406 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $649.96, for a total transaction of $263,883.76. Following the sale, the executive vice president directly owned 11,287 shares of the company's stock, valued at approximately $7,336,098.52. The trade was a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nimrata Hunt sold 1,200 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $656.53, for a total value of $787,836.00. Following the completion of the sale, the executive vice president directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 54,057 shares of company stock worth $34,293,468. Insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IDXX shares. JPMorgan Chase & Co. lifted their price objective on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. BTIG Research lifted their price objective on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a research note on Monday, August 4th. Morgan Stanley raised their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. Finally, Piper Sandler reissued a "neutral" rating and issued a $700.00 target price (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $649.44.

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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