Tectonic Advisors LLC Buys New Stake in IDEXX Laboratories, Inc. $IDXX

Key Points

• Tectonic Advisors LLC has acquired a new stake in IDEXX Laboratories valued at around $486,000, purchasing 907 shares in the 2nd quarter.
• Analysts are optimistic about IDEXX, with JPMorgan raising its target price from $550 to $675, indicating a strong outlook and several analysts maintaining buy ratings.
• In recent activities, key insiders have sold a significant number of shares, including EVP Sharon E. Underberg, who sold shares valued at over $3.5 million, reflecting a notable decrease in their holdings.

Tectonic Advisors LLC bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 907 shares of the company's stock, valued at approximately $486,000.

Several other large investors have also recently added to or reduced their stakes in the business. Values Added Financial LLC acquired a new stake in IDEXX Laboratories in the 2nd quarter valued at approximately $200,000. Maryland State Retirement & Pension System increased its position in IDEXX Laboratories by 3.2% in the 2nd quarter. Maryland State Retirement & Pension System now owns 3,922 shares of the company's stock valued at $2,104,000 after acquiring an additional 123 shares during the period. WoodTrust Financial Corp acquired a new stake in IDEXX Laboratories in the 2nd quarter valued at approximately $6,768,000. Sax Wealth Advisors LLC increased its position in IDEXX Laboratories by 11.5% in the 2nd quarter. Sax Wealth Advisors LLC now owns 1,528 shares of the company's stock valued at $820,000 after acquiring an additional 158 shares during the period. Finally, Venturi Wealth Management LLC acquired a new stake in IDEXX Laboratories in the 2nd quarter valued at approximately $630,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a research note on Monday, August 4th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of IDEXX Laboratories in a research note on Wednesday. UBS Group assumed coverage on IDEXX Laboratories in a research note on Wednesday, October 1st. They set a "neutral" rating and a $720.00 price target for the company. Finally, Morgan Stanley increased their price target on IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, IDEXX Laboratories presently has an average rating of "Moderate Buy" and a consensus price target of $656.50.

Insider Activity at IDEXX Laboratories

In other news, EVP Sharon E. Underberg sold 5,450 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the completion of the sale, the executive vice president owned 6,156 shares in the company, valued at approximately $4,011,249.60. This represents a 46.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Anne Szostak sold 2,187 shares of the stock in a transaction on Friday, August 22nd. The shares were 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 disclosure for this sale can be found here. In the last three months, insiders have sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is owned by corporate insiders.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $616.15 on Friday. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $688.12. The stock has a fifty day moving average of $641.49 and a 200-day moving average of $541.85. The company has a market capitalization of $49.29 billion, a PE ratio of 51.30, a price-to-earnings-growth ratio of 4.07 and a beta of 1.58. 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 quarterly earnings data 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 company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the firm 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, equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

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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