Oak Ridge Investments LLC Trims Stake in IDEXX Laboratories, Inc. $IDXX

Oak Ridge Investments LLC reduced its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 13.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,517 shares of the company’s stock after selling 229 shares during the period. Oak Ridge Investments LLC’s holdings in IDEXX Laboratories were worth $814,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mutual of America Capital Management LLC increased its holdings in IDEXX Laboratories by 79.6% during the first quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company’s stock valued at $8,160,000 after buying an additional 8,609 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in IDEXX Laboratories by 3,766.7% during the first quarter. Golden State Wealth Management LLC now owns 116 shares of the company’s stock valued at $49,000 after buying an additional 113 shares during the last quarter. Plato Investment Management Ltd increased its holdings in IDEXX Laboratories by 37.1% during the first quarter. Plato Investment Management Ltd now owns 3,087 shares of the company’s stock valued at $1,310,000 after buying an additional 835 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new stake in IDEXX Laboratories during the first quarter valued at approximately $229,000. Finally, Genesis Wealth Advisors LLC purchased a new stake in shares of IDEXX Laboratories in the second quarter worth $215,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 7,143 shares of the stock in a transaction 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 completion of the transaction, the executive vice president owned 18,007 shares in the company, valued at $11,352,153.01. This trade represents a 28.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director M Anne Szostak sold 2,187 shares of the 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 transaction, the director owned 262 shares of the company’s stock, valued at $169,600.46. This trade represents a 89.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,057 shares of company stock valued at $34,293,468 in the last ninety days. Corporate insiders own 0.98% of the company’s stock.

IDEXX Laboratories Stock Performance

IDXX opened at $616.15 on Monday. The stock has a market capitalization of $49.29 billion, a price-to-earnings ratio of 51.30, a PEG ratio of 3.99 and a beta of 1.58. The company has a fifty day moving average of $641.49 and a 200 day moving average of $543.56. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $688.12. 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 (NASDAQ:IDXX) last posted its 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 company 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%. IDEXX Laboratories’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the company posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IDXX. Morgan Stanley increased their price objective on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an “overweight” rating in a research note on Friday, August 15th. BTIG Research increased their price objective on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a “buy” rating and a $625.00 price objective for the company. Piper Sandler reissued a “neutral” rating and issued a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Finally, UBS Group began coverage on shares of IDEXX Laboratories in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $720.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.