Swedbank AB Sells 3,051 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Swedbank AB reduced its stake in IDEXX Laboratories, Inc. by 8.4%, selling 3,051 shares, and now holds a total of 33,401 shares valued at approximately $14 million.
• Analysts have a generally positive outlook on IDEXX Laboratories, with multiple upgrades and a consensus price target of $649.44, indicating potential for growth.
• IDEXX Laboratories reported a strong quarterly performance, with earnings per share of $3.63, surpassing estimates, and an annual revenue increase of 10.6% compared to the previous year.

Swedbank AB trimmed its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 8.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,401 shares of the company's stock after selling 3,051 shares during the quarter. Swedbank AB's holdings in IDEXX Laboratories were worth $14,027,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new stake in shares of IDEXX Laboratories in the 1st quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after buying an additional 30 shares during the last quarter. WPG Advisers LLC bought a new position in IDEXX Laboratories during the 1st quarter worth $37,000. Bank of Jackson Hole Trust grew its stake in IDEXX Laboratories by 328.6% during the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after buying an additional 69 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its stake in IDEXX Laboratories by 108.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 104 shares of the company's stock worth $44,000 after buying an additional 54 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Up 0.3%

IDEXX Laboratories stock traded up $1.66 during mid-day trading on Tuesday, hitting $645.65. The company's stock had a trading volume of 404,494 shares, compared to its average volume of 368,687. The firm's 50 day moving average is $607.69 and its 200 day moving average is $516.54. The company has a market cap of $51.65 billion, a PE ratio of 53.76, a price-to-earnings-growth ratio of 4.17 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. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data 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. 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 business earned $2.44 EPS. The business's revenue for the quarter was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 2,187 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total value of $1,415,710.71. Following the sale, the director owned 262 shares of the company's stock, valued at $169,600.46. This trade represents a 89.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Lane sold 8,411 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total value of $5,279,921.14. Following the completion of the sale, the executive vice president directly owned 7,132 shares in the company, valued at $4,477,041.68. This trade 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 worth $34,293,468 in the last 90 days. Company insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

IDXX has been the subject of a number of recent research reports. 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 price objective for the company. 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 note on Monday, August 11th. Leerink Partners increased their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. BTIG Research increased their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and a consensus price target of $649.44.

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.