US Bancorp DE Has $8.11 Million Stock Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• US Bancorp DE decreased its stake in IDEXX Laboratories by 6.6% in the second quarter, holding 15,115 shares valued at approximately $8.11 million.
• IDEXX Laboratories saw several institutional investors acquire or boost their positions during the same quarter, with overall institutional ownership reaching 87.84%.
• The stock recently experienced a rating downgrade from "strong-buy" to "buy" by Wall Street Zen, while various analysts set target prices ranging from $600 to $675.

US Bancorp DE decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 6.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,115 shares of the company's stock after selling 1,072 shares during the period. US Bancorp DE's holdings in IDEXX Laboratories were worth $8,107,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Tectonic Advisors LLC acquired a new stake in IDEXX Laboratories during the second quarter valued at $486,000. Values Added Financial LLC acquired a new stake in IDEXX Laboratories during the second quarter valued at $200,000. Maryland State Retirement & Pension System boosted its position in IDEXX Laboratories by 3.2% during the second quarter. Maryland State Retirement & Pension System now owns 3,922 shares of the company's stock valued at $2,104,000 after purchasing an additional 123 shares during the last quarter. WoodTrust Financial Corp acquired a new stake in IDEXX Laboratories during the second quarter valued at $6,768,000. Finally, Sax Wealth Advisors LLC boosted its position in IDEXX Laboratories by 11.5% during the second quarter. Sax Wealth Advisors LLC now owns 1,528 shares of the company's stock valued at $820,000 after purchasing an additional 158 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

Analysts Set New Price Targets

IDXX has been the subject of a number of research reports. Wall Street Zen cut IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 28th. Jefferies Financial Group started coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price on the stock. 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 report on Monday, August 4th. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a report on Monday, August 4th. Finally, Leerink Partners lifted their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, IDEXX Laboratories has a consensus rating of "Moderate Buy" and an average target price of $656.50.

IDEXX Laboratories Stock Down 2.0%

NASDAQ IDXX opened at $616.15 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The stock's 50 day moving average is $641.49 and its two-hundred day moving average is $543.56. The company has a market capitalization of $49.29 billion, a price-to-earnings ratio of 51.30, a PEG ratio of 3.99 and a beta of 1.58. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The company's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Equities analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 1,200 shares of IDEXX Laboratories stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $656.53, for a total transaction of $787,836.00. Following the sale, the executive vice president directly owned 16,807 shares of the company's stock, valued at approximately $11,034,299.71. The trade was a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael G. Erickson sold 406 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total value of $263,883.76. Following the sale, the executive vice president directly owned 11,287 shares in the company, valued at $7,336,098.52. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,057 shares of company stock valued at $34,293,468. Corporate insiders own 0.98% of the company's stock.

IDEXX Laboratories Company 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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