SVB Wealth LLC Purchases 1,705 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• SVB Wealth LLC increased its stake in IDEXX Laboratories by 70.6%, now holding a total of 4,121 shares valued at approximately $1.73 million as of the latest SEC filing.
• Analysts have set revised price targets for IDEXX Laboratories, with Piper Sandler raising its target to $700.00 and BTIG Research increasing it significantly to $785.00, reflecting a generally positive outlook.
• The company reported strong earnings results, with earnings per share of $3.63, surpassing analysts' expectations, and a revenue of $1.11 billion, showing a 10.6% year-over-year increase.

SVB Wealth LLC lifted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 70.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,121 shares of the company's stock after buying an additional 1,705 shares during the quarter. SVB Wealth LLC's holdings in IDEXX Laboratories were worth $1,731,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new position in shares of IDEXX Laboratories in the first quarter valued at $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 boosted its position in IDEXX Laboratories by 328.6% during the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after purchasing an additional 69 shares during the period. Finally, Itau Unibanco Holding S.A. boosted its position in IDEXX Laboratories by 540.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after purchasing an additional 81 shares during the period. 87.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IDXX has been the subject of a number of research analyst reports. Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a research report on Monday, August 4th. Piper Sandler reaffirmed a "neutral" rating and set a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. BTIG Research lifted their price objective on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. One equities 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's stock. According to data from MarketBeat, IDEXX Laboratories has a consensus rating of "Moderate Buy" and an average target price of $649.44.

Insiders Place Their Bets

In related news, EVP Michael G. Erickson sold 406 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $649.96, for a total value of $263,883.76. Following the completion of the transaction, the executive vice president owned 11,287 shares of the company's stock, valued at $7,336,098.52. The trade was a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nimrata Hunt sold 7,143 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total value of $4,503,161.49. Following the completion of the transaction, the executive vice president directly owned 18,007 shares of the company's stock, valued at approximately $11,352,153.01. This trade represents a 28.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,870 shares of company stock valued at $32,877,757 over the last 90 days. 0.98% of the stock is owned by company insiders.

IDEXX Laboratories Trading Up 2.0%

Shares of IDEXX Laboratories stock opened at $645.55 on Friday. The firm has a 50-day moving average of $569.94 and a 200-day moving average of $494.15. The stock has a market cap of $51.65 billion, a PE ratio of 53.75, a PEG ratio of 4.18 and a beta of 1.49. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. 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 (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, beating analysts' consensus estimates of $3.28 by $0.35. The company had revenue of $1.11 billion during 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%. IDEXX Laboratories's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $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 forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

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.

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