Keudell Morrison Wealth Management Acquires New Shares in IDEXX Laboratories, Inc. $IDXX

Keudell Morrison Wealth Management acquired a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 388 shares of the company’s stock, valued at approximately $208,000.

Several other large investors also recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in shares of IDEXX Laboratories in the 1st quarter worth about $221,000. Merit Financial Group LLC increased its holdings in IDEXX Laboratories by 148.9% during the 1st quarter. Merit Financial Group LLC now owns 1,894 shares of the company’s stock valued at $795,000 after acquiring an additional 1,133 shares in the last quarter. Procyon Advisors LLC raised its position in IDEXX Laboratories by 50.3% during the first quarter. Procyon Advisors LLC now owns 2,119 shares of the company’s stock worth $890,000 after acquiring an additional 709 shares during the last quarter. Gateway Investment Advisers LLC lifted its holdings in shares of IDEXX Laboratories by 7.7% in the first quarter. Gateway Investment Advisers LLC now owns 13,296 shares of the company’s stock valued at $5,584,000 after purchasing an additional 947 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of IDEXX Laboratories by 2.3% in the first quarter. UMB Bank n.a. now owns 4,948 shares of the company’s stock valued at $2,078,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $631.19 on Monday. 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 company has a market cap of $50.50 billion, a PE ratio of 52.56, a P/E/G ratio of 4.09 and a beta of 1.58. The company’s fifty day simple moving average is $634.52 and its 200-day simple moving average is $536.37. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.35. The firm had revenue of $1.11 billion during 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 period in the prior year, the firm earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analyst Upgrades and Downgrades

IDXX has been the subject of several research reports. Leerink Partners lifted their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a research report on Monday, August 4th. Morgan Stanley upped their price objective on IDEXX Laboratories from $722.00 to $765.00 and gave the company an “overweight” rating in a research report on Friday, August 15th. Jefferies Financial Group began coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They set a “buy” rating and a $625.00 price objective on the stock. Finally, UBS Group began coverage on shares of IDEXX Laboratories in a research note on Wednesday. They issued a “neutral” rating and a $720.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $656.50.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 2,187 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $647.33, for a total value of $1,415,710.71. Following the completion of the sale, the director owned 262 shares of the company’s stock, valued at $169,600.46. This trade represents a 89.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sharon E. Underberg sold 5,450 shares of the business’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 in the company, valued at approximately $4,011,249.60. The trade was a 46.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,057 shares of company stock worth $34,293,468 over the last 90 days. 0.98% of the stock is owned by corporate insiders.

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.