Verdence Capital Advisors LLC Acquires New Stake in IDEXX Laboratories, Inc. $IDXX

Verdence Capital Advisors LLC acquired a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,503 shares of the company's stock, valued at approximately $806,000.

A number of other large investors have also made changes to their positions in the stock. Opal Wealth Advisors LLC acquired a new stake in IDEXX Laboratories in the 2nd quarter worth about $29,000. MorganRosel Wealth Management LLC acquired a new stake in IDEXX Laboratories in the 1st quarter worth about $26,000. Ameritas Advisory Services LLC acquired a new stake in IDEXX Laboratories in the 2nd quarter worth about $36,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in IDEXX Laboratories by 55.6% in 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. Finally, WPG Advisers LLC acquired a new stake in IDEXX Laboratories in the 1st quarter worth about $37,000. Institutional investors and hedge funds own 87.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Morgan Stanley raised their price target on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. BTIG Research raised 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. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a research note on Monday, August 4th. JPMorgan Chase & Co. raised their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Finally, Piper Sandler restated a "neutral" rating and issued a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $656.50.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $636.91 on Wednesday. The stock's 50-day moving average is $640.40 and its 200-day moving average is $545.72. The company has a market cap of $50.96 billion, a price-to-earnings ratio of 53.03, a price-to-earnings-growth ratio of 4.10 and a beta of 1.58. 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 12 month low of $356.14 and a 12 month 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 EPS for the quarter, topping 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% compared to the same quarter last year. During the same period last year, the business posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Equities 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 related news, EVP Sharon E. Underberg sold 5,450 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 6,156 shares in the company, valued at approximately $4,011,249.60. This trade represents a 46.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael G. Erickson sold 406 shares of the firm's stock in a transaction dated 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 owned 11,287 shares in the company, valued at approximately $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 quarter, insiders sold 54,057 shares of company stock worth $34,293,468. 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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