Aries Wealth Management Raises Holdings in IDEXX Laboratories, Inc. $IDXX

Aries Wealth Management boosted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,172 shares of the company’s stock after buying an additional 76 shares during the quarter. Aries Wealth Management’s holdings in IDEXX Laboratories were worth $1,701,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. MorganRosel Wealth Management LLC bought a new position in IDEXX Laboratories during the 1st quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new position in IDEXX Laboratories during the 2nd quarter valued at approximately $29,000. Migdal Insurance & Financial Holdings Ltd. raised its position in IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock valued at $35,000 after purchasing an additional 30 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in IDEXX Laboratories during the 2nd quarter valued at approximately $36,000. Finally, WPG Advisers LLC bought a new position in IDEXX Laboratories during the 1st quarter valued at approximately $37,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $636.91 on Wednesday. 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 company has a market capitalization of $50.96 billion, a P/E ratio of 53.03, a PEG ratio of 4.10 and a beta of 1.58. The stock’s 50 day moving average is $640.40 and its 200 day moving average is $545.72. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, equities research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IDEXX Laboratories news, EVP Michael G. Erickson sold 406 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $649.96, for a total transaction of $263,883.76. Following the sale, the executive vice president directly owned 11,287 shares in the company, valued at approximately $7,336,098.52. This trade represents a 3.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sharon E. Underberg sold 5,450 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $651.60, for a total value of $3,551,220.00. Following the sale, the executive vice president owned 6,156 shares in the company, valued at approximately $4,011,249.60. This represents a 46.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,057 shares of company stock worth $34,293,468 over the last three months. Corporate insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on IDXX. Wall Street Zen lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 28th. Leerink Partners upped their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. BTIG Research upped their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. increased their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. Finally, Piper Sandler reissued a “neutral” rating and issued a $700.00 target price (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. One investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $656.50.

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.