Sequoia Financial Advisors LLC Boosts Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Sequoia Financial Advisors LLC increased its stake in IDEXX Laboratories, Inc. by 39.1% in Q2, owning 2,694 shares valued at $1,445,000.
• Analysts are optimistic, with multiple firms raising their price targets for IDEXX shares, ranging from $600 to $785, and the consensus rating being a "Moderate Buy."
• IDEXX Laboratories reported a quarterly earnings per share of $3.63, exceeding estimates, with a revenue of $1.11 billion, up 10.6% year-over-year.

Sequoia Financial Advisors LLC raised its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 39.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,694 shares of the company's stock after acquiring an additional 757 shares during the quarter. Sequoia Financial Advisors LLC's holdings in IDEXX Laboratories were worth $1,445,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC increased its holdings in IDEXX Laboratories by 79.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company's stock valued at $8,160,000 after acquiring an additional 8,609 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of IDEXX Laboratories by 3,766.7% during the first quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock worth $49,000 after buying an additional 113 shares in the last quarter. Plato Investment Management Ltd grew its holdings in shares of IDEXX Laboratories by 37.1% during the first 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 in the last quarter. Sagespring Wealth Partners LLC purchased a new stake in shares of IDEXX Laboratories during the first quarter worth about $229,000. Finally, Genesis Wealth Advisors LLC purchased a new stake in shares of IDEXX Laboratories during the second quarter worth about $215,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Leerink Partners lifted their price target 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 price target on shares of IDEXX Laboratories in a report on Monday, August 4th. JPMorgan Chase & Co. lifted their price target on shares of 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 target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $656.50.

IDEXX Laboratories Price Performance

IDXX opened at $637.34 on Friday. The company's 50 day simple moving average is $640.44 and its 200 day simple moving average is $547.86. 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, Inc. has a 1 year low of $356.14 and a 1 year high of $688.12. The stock has a market capitalization of $50.99 billion, a PE ratio of 53.07, a P/E/G ratio of 4.14 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its 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. The business had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company's quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the company earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Activity

In other IDEXX Laboratories news, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 6,156 shares of the company's stock, valued at $4,011,249.60. The trade was a 46.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, August 6th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,057 shares of company stock valued at $34,293,468 over the last quarter. 0.98% of the stock is owned by insiders.

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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