IDEXX Laboratories, Inc. $IDXX Shares Purchased by Silver Oak Securities Incorporated

Key Points

• Silver Oak Securities Incorporated increased its stake in IDEXX Laboratories by 93.7% in the 2nd quarter, holding 928 shares valued at approximately $498,000.
• IDEXX Laboratories reported a quarterly earnings per share (EPS) of $3.63, exceeding estimates by $0.35, alongside a revenue of $1.11 billion.
• Analysts have a consensus rating of "Moderate Buy" for IDEXX Laboratories, with an average price target of approximately $649.44.

Silver Oak Securities Incorporated boosted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 93.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 928 shares of the company's stock after acquiring an additional 449 shares during the period. Silver Oak Securities Incorporated's holdings in IDEXX Laboratories were worth $498,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC lifted its stake in 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 purchasing an additional 916,898 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of IDEXX Laboratories by 71.0% during the 1st 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 during the period. Select Equity Group L.P. bought a new stake in IDEXX Laboratories during the 1st quarter valued at about $194,834,000. Nuveen LLC purchased a new position in shares of IDEXX Laboratories in the 1st quarter worth approximately $179,784,000. Finally, Principal Financial Group Inc. grew its position in IDEXX Laboratories by 58.3% during the 1st 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 during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 7,143 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the completion of the sale, the executive vice president directly owned 18,007 shares in the company, valued at $11,352,153.01. This represents a 28.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories 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 sale, the executive vice president directly owned 7,132 shares of the company's stock, valued at $4,477,041.68. This represents a 54.11% 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 ninety days. 0.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on IDXX shares. Piper Sandler reissued a "neutral" rating and issued a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Leerink Partners upped their price objective on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price for the company. JPMorgan Chase & Co. raised their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, BTIG Research increased 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $649.44.

IDEXX Laboratories Price Performance

NASDAQ IDXX traded down $12.06 on Monday, reaching $644.10. 386,847 shares of the company's stock traded hands, compared to its average volume of 405,479. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12. The stock has a market cap of $51.53 billion, a PE ratio of 53.63, a P/E/G ratio of 4.25 and a beta of 1.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. The stock has a 50-day simple moving average of $614.44 and a 200 day simple moving average of $521.60.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company earned $2.44 EPS. The company's quarterly 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. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

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.