IFP Advisors Inc Lowers Stock Position in IDEXX Laboratories, Inc. $IDXX

IFP Advisors Inc lessened its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 31.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 592 shares of the company’s stock after selling 274 shares during the period. IFP Advisors Inc’s holdings in IDEXX Laboratories were worth $318,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of IDXX. GAMMA Investing LLC boosted its stake in shares of IDEXX Laboratories by 42.7% during the 1st quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock valued at $918,000 after buying an additional 654 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in IDEXX Laboratories by 13.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company’s stock valued at $10,731,000 after acquiring an additional 2,931 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in IDEXX Laboratories by 9.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 43,786 shares of the company’s stock valued at $18,388,000 after acquiring an additional 3,728 shares during the last quarter. Sagespring Wealth Partners LLC bought a new position in IDEXX Laboratories during the 1st quarter valued at $229,000. Finally, Grimes & Company Inc. boosted its stake in IDEXX Laboratories by 0.6% during the 1st quarter. Grimes & Company Inc. now owns 4,502 shares of the company’s stock valued at $1,890,000 after acquiring an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on IDXX. Wall Street Zen downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 28th. Leerink Partners raised 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. BTIG Research raised their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Morgan Stanley raised their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an “overweight” rating in a research report on Friday, August 15th. Finally, UBS Group assumed coverage on shares of IDEXX Laboratories in a report on Wednesday, October 1st. They issued a “neutral” rating and a $720.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $656.50.

IDEXX Laboratories Stock Up 0.4%

NASDAQ:IDXX opened at $639.15 on Thursday. The firm has a market capitalization of $51.13 billion, a price-to-earnings ratio of 53.22, a PEG ratio of 4.12 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. 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 business’s fifty day moving average price is $640.70 and its 200 day moving average price is $546.36.

IDEXX Laboratories (NASDAQ:IDXX) 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. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company posted $2.44 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, sell-side 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 IDEXX Laboratories news, Director M Anne Szostak sold 2,187 shares of IDEXX Laboratories stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the sale, the director owned 262 shares in the company, valued at $169,600.46. The trade was a 89.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sharon E. Underberg sold 5,450 shares of the company’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 transaction, the executive vice president 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 disclosure for this sale can be found here. Insiders sold 54,057 shares of company stock valued at $34,293,468 over the last quarter. Company insiders own 0.98% of the company’s stock.

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.