Voleon Capital Management LP Sells 5,371 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Voleon Capital Management LP significantly reduced its stake in IDEXX Laboratories by selling 5,371 shares, resulting in a 64.7% decrease in ownership during the first quarter.
• Multiple large investors, including MorganRosel Wealth Management LLC and Bank of Jackson Hole Trust, have made changes to their positions in IDEXX, reflecting growing interest among institutional investors.
• IDEXX Laboratories has received several upgrades from analysts, with an average price target of $649.44 and a current rating of "Moderate Buy."

Voleon Capital Management LP trimmed its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 64.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,932 shares of the company's stock after selling 5,371 shares during the quarter. Voleon Capital Management LP's holdings in IDEXX Laboratories were worth $1,231,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IDXX. MorganRosel Wealth Management LLC bought a new stake in IDEXX Laboratories during the first quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after buying an additional 30 shares during the period. WPG Advisers LLC purchased a new stake in shares of IDEXX Laboratories in the first quarter valued at approximately $37,000. Bank of Jackson Hole Trust boosted its holdings in shares of IDEXX Laboratories by 328.6% in the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock valued at $39,000 after purchasing an additional 69 shares during the period. Finally, Retirement Wealth Solutions LLC boosted its holdings in shares of IDEXX Laboratories by 40.0% in the first quarter. Retirement Wealth Solutions LLC now owns 105 shares of the company's stock valued at $44,000 after purchasing an additional 30 shares during the period. 87.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Piper Sandler reiterated a "neutral" rating and issued a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target for the company. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a report on Monday, August 4th. Finally, Leerink Partners upped their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, IDEXX Laboratories currently has an average rating of "Moderate Buy" and an average target price of $649.44.

IDEXX Laboratories Stock Up 1.5%

IDEXX Laboratories stock opened at $652.83 on Tuesday. The business has a fifty day moving average of $595.55 and a two-hundred day moving average of $508.89. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The firm has a market cap of $52.23 billion, a P/E ratio of 54.36, a P/E/G ratio of 4.16 and a beta of 1.56. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12.

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

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP Sharon E. Underberg sold 5,450 shares of the company's 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 transaction, the executive vice president directly owned 6,156 shares of the company's stock, valued at approximately $4,011,249.60. This represents a 46.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nimrata Hunt sold 7,143 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $630.43, for a total value of $4,503,161.49. Following the transaction, the executive vice president directly owned 18,007 shares in the company, valued at approximately $11,352,153.01. The trade was a 28.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 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 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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