Mirae Asset Global Investments Co. Ltd. Has $17.33 Million Position in IDEXX Laboratories, Inc. $IDXX

Mirae Asset Global Investments Co. Ltd. reduced its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 32,304 shares of the company’s stock after selling 1,173 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in IDEXX Laboratories were worth $17,326,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in IDXX. MorganRosel Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new position in IDEXX Laboratories during the 2nd quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings 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. WPG Advisers LLC bought a new position in IDEXX Laboratories during the 1st quarter valued at about $37,000. Finally, Bank of Jackson Hole Trust lifted its holdings in IDEXX Laboratories by 328.6% during the 1st 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 last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and set a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Morgan Stanley lifted their price target 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. Stifel Nicolaus set a $640.00 price target on shares of IDEXX Laboratories in a report on Monday, August 4th. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a “buy” rating and a $625.00 price target for the company. Finally, BTIG Research lifted their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. One 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $656.50.

Insider Activity

In related news, EVP Michael Lane sold 8,411 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the completion of the transaction, the executive vice president owned 7,132 shares in the company, valued at approximately $4,477,041.68. The trade was a 54.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nimrata Hunt sold 7,143 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is currently owned by company insiders.

IDEXX Laboratories Stock Down 0.4%

Shares of NASDAQ IDXX opened at $631.19 on Friday. The stock has a market cap of $50.50 billion, a P/E ratio of 52.56, a P/E/G ratio of 4.09 and a beta of 1.58. The firm has a 50 day moving average price of $634.52 and a 200 day moving average price of $535.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.35. The firm had revenue of $1.11 billion during 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 business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS 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.