Summit Financial LLC Sells 611 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Summit Financial LLC reduced its stock holdings in IDEXX Laboratories, Inc. by 25.2% in the first quarter, ending with 1,811 shares valued at approximately $761,000.
• Several large investors have recently made adjustments to their positions, including TD Waterhouse Canada Inc. increasing its holdings by 34.8% and new stakes being taken by multiple firms, indicating increased interest in the stock.
• IDEXX Laboratories reported robust quarterly earnings, with an EPS of $3.63 and revenue of $1.11 billion, surpassing consensus estimates and reflecting a 10.6% increase year-over-year.

Summit Financial LLC reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 25.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,811 shares of the company's stock after selling 611 shares during the period. Summit Financial LLC's holdings in IDEXX Laboratories were worth $761,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in IDXX. MorganRosel Wealth Management LLC bought a new position in shares of IDEXX Laboratories in the 1st quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after purchasing an additional 30 shares during the period. Colonial Trust Co SC boosted its position in IDEXX Laboratories by 84.8% during the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after purchasing an additional 39 shares during the period. Bank of Jackson Hole Trust raised its position 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 valued at $39,000 after purchasing an additional 69 shares during the period. Finally, Itau Unibanco Holding S.A. raised its position in shares of IDEXX Laboratories by 540.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock valued at $40,000 after purchasing an additional 81 shares during the period. Institutional investors own 87.84% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on IDXX. JPMorgan Chase & Co. lifted their price target 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. 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 price target on the stock. Piper Sandler reissued a "neutral" rating and issued a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Morgan Stanley lifted their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. Finally, BTIG Research lifted their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. One investment 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $649.44.

IDEXX Laboratories Stock Performance

IDXX stock traded down $0.86 on Wednesday, reaching $640.86. 521,480 shares of the company were exchanged, compared to its average volume of 716,764. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12. The stock's fifty day moving average price is $574.61 and its 200 day moving average price is $496.67. The firm has a market capitalization of $51.27 billion, a PE ratio of 53.36, a PEG ratio of 4.15 and a beta of 1.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the firm 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, research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Sharon E. Underberg sold 5,450 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $651.60, for a total value of $3,551,220.00. Following the sale, the executive vice president owned 6,156 shares of the company's stock, valued at $4,011,249.60. The trade was a 46.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael G. Erickson sold 406 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total transaction of $263,883.76. Following the completion of the sale, the executive vice president directly owned 11,287 shares in the company, valued at $7,336,098.52. This trade represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is currently owned by company insiders.

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.