Three Bridge Wealth Advisors LLC Takes Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Three Bridge Wealth Advisors LLC invested approximately $243,000 in IDEXX Laboratories, acquiring 454 shares in the second quarter of 2023.
• IDEXX Laboratories reported a net revenue of $1.11 billion for the quarter, exceeding analyst expectations and marking a 10.6% increase year-over-year.
• Insider trading showed significant activity, with executives selling over 54,000 shares valued at approximately $34.3 million in the last quarter.

Three Bridge Wealth Advisors LLC purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 454 shares of the company's stock, valued at approximately $243,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Red Spruce Capital LLC boosted its holdings in shares of IDEXX Laboratories by 1.1% in the second quarter. Red Spruce Capital LLC now owns 1,701 shares of the company's stock valued at $912,000 after buying an additional 19 shares during the period. Rise Advisors LLC raised its position in IDEXX Laboratories by 3.9% in the 2nd quarter. Rise Advisors LLC now owns 562 shares of the company's stock valued at $301,000 after buying an additional 21 shares during the last quarter. Sage Mountain Advisors LLC raised its position in IDEXX Laboratories by 3.8% in the 1st quarter. Sage Mountain Advisors LLC now owns 635 shares of the company's stock valued at $267,000 after buying an additional 23 shares during the last quarter. Great Lakes Advisors LLC raised its position in IDEXX Laboratories by 0.9% in the 1st quarter. Great Lakes Advisors LLC now owns 2,567 shares of the company's stock valued at $1,078,000 after buying an additional 23 shares during the last quarter. Finally, PDS Planning Inc raised its position in IDEXX Laboratories by 3.9% in the 1st quarter. PDS Planning Inc now owns 641 shares of the company's stock valued at $269,000 after buying an additional 24 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $631.19 on Friday. The firm has a 50-day moving average of $634.52 and a 200-day moving average of $535.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The stock has a market cap of $50.50 billion, a PE ratio of 52.56, a P/E/G ratio of 4.09 and a beta of 1.58. 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 released its quarterly earnings results on Monday, August 4th. The company reported $3.63 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 period last year, the firm earned $2.44 earnings per share. IDEXX Laboratories's revenue for the quarter 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, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 7,143 shares of the firm'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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total transaction of $18,491,734.80. Following the transaction, the chief executive officer directly owned 83,311 shares in the company, valued at approximately $52,650,885.78. This represents a 25.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,057 shares of company stock valued at $34,293,468 in the last quarter. Company insiders own 0.98% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IDXX. Wall Street Zen cut shares of IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 28th. BTIG Research increased their target price on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Weiss Ratings restated a "buy (b-)" rating on shares of IDEXX Laboratories in a report on Saturday, September 27th. JPMorgan Chase & Co. increased their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $656.50.

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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