Westmount Partners LLC Purchases Shares of 400 IDEXX Laboratories, Inc. $IDXX

Key Points

• Westmount Partners LLC has acquired a new position in IDEXX Laboratories, purchasing 400 shares valued at approximately $215,000 during the 2nd quarter.
• Institutional investors have shown significant interest in IDEXX, with Mutual of America Capital Management increasing its stake by 79.6% and Golden State Wealth Management raising its position by 3,766.7% in the same quarter.
• IDEXX Laboratories reported strong quarterly earnings with an EPS of $3.63, exceeding analysts' expectations, and has a consensus target price of $649.44 among equity analysts.

Westmount Partners LLC acquired a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 400 shares of the company's stock, valued at approximately $215,000.

A number of other hedge funds have also modified their holdings of IDXX. MorganRosel Wealth Management LLC bought a new position in shares of IDEXX Laboratories during the first quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after acquiring an additional 30 shares during the last quarter. WPG Advisers LLC bought a new stake in IDEXX Laboratories during the 1st quarter valued at about $37,000. Bank of Jackson Hole Trust raised 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 acquiring an additional 69 shares in the last quarter. Finally, Retirement Wealth Solutions LLC raised its position in shares of IDEXX Laboratories by 40.0% in the 1st quarter. Retirement Wealth Solutions LLC now owns 105 shares of the company's stock worth $44,000 after acquiring an additional 30 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IDXX. Morgan Stanley upped their price objective on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a report on Friday, August 15th. Leerink Partners raised their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Jefferies Financial Group began coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price on the stock. Piper Sandler reissued a "neutral" rating and issued a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Finally, BTIG Research lifted their target price on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $649.44.

Insider Buying and Selling

In related news, EVP Nimrata Hunt sold 7,143 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the transaction, the executive vice president owned 18,007 shares of the company's stock, valued at approximately $11,352,153.01. This represents a 28.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sharon E. Underberg sold 5,450 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $651.60, for a total value of $3,551,220.00. Following the transaction, the executive vice president directly owned 6,156 shares in the company, valued at approximately $4,011,249.60. The trade was a 46.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,057 shares of company stock valued at $34,293,468 over the last three months. Company insiders own 0.98% of the company's stock.

IDEXX Laboratories Trading Up 0.1%

NASDAQ IDXX traded up $0.65 on Friday, reaching $656.16. 981,520 shares of the company were exchanged, compared to its average volume of 374,016. The business's fifty day moving average price is $614.44 and its 200 day moving average price is $520.38. The stock has a market capitalization of $52.49 billion, a P/E ratio of 54.63, a price-to-earnings-growth ratio of 4.24 and a beta of 1.56. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $688.12.

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

About IDEXX Laboratories

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.