613 Shares in IDEXX Laboratories, Inc. $IDXX Acquired by Salvus Wealth Management LLC

Key Points

• Salvus Wealth Management LLC recently acquired 613 shares of IDEXX Laboratories, valued at approximately $329,000, marking a new investment in the company.
• Several hedge funds have increased their stakes in IDEXX, with Vanguard Group Inc. now owning over $4 billion in shares, reflecting growing institutional interest.
• IDEXX Laboratories reported earnings surpassing estimates, with a net margin of 24.41% and a revenue increase of 10.6% year-over-year for the last quarter.

Salvus Wealth Management LLC bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 613 shares of the company's stock, valued at approximately $329,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IDXX. Mutual of America Capital Management LLC lifted its position in shares of 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 valued at $8,160,000 after purchasing an additional 8,609 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of 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 acquiring an additional 113 shares during the last quarter. Sagespring Wealth Partners LLC bought a new position in IDEXX Laboratories during the 1st quarter worth approximately $229,000. Plato Investment Management Ltd increased its position in shares of IDEXX Laboratories by 37.1% in the first quarter. Plato Investment Management Ltd now owns 3,087 shares of the company's stock valued at $1,310,000 after acquiring an additional 835 shares during the period. Finally, Inspire Investing LLC raised its holdings in shares of IDEXX Laboratories by 34.4% during the first quarter. Inspire Investing LLC now owns 13,577 shares of the company's stock valued at $5,702,000 after acquiring an additional 3,472 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Down 1.8%

Shares of IDXX traded down $12.06 during trading hours on Monday, reaching $644.10. 386,847 shares of the company traded hands, compared to its average volume of 405,479. The stock's fifty day moving average price is $616.70 and its 200 day moving average price is $523.10. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $688.12. The firm has a market cap of $51.53 billion, a price-to-earnings ratio of 53.63, a PEG ratio of 4.25 and a beta of 1.56.

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, beating analysts' consensus estimates of $3.28 by $0.35. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Piper Sandler reiterated a "neutral" rating and set a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. JPMorgan Chase & Co. boosted their price objective 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. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a research report on Monday, August 4th. BTIG Research boosted their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Morgan Stanley raised their target price on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $649.44.

Insiders Place Their Bets

In related news, EVP Nimrata Hunt sold 1,200 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $656.53, for a total transaction of $787,836.00. Following the transaction, the executive vice president directly owned 16,807 shares in the company, valued at approximately $11,034,299.71. The trade was a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Sharon E. Underberg sold 5,450 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the completion of the sale, the executive vice president owned 6,156 shares in the company, valued at approximately $4,011,249.60. This trade represents a 46.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,057 shares of company stock valued at $34,293,468. Corporate insiders own 0.98% of the company's stock.

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.