MGO One Seven LLC Invests $3.19 Million in IDEXX Laboratories, Inc. $IDXX

MGO One Seven LLC bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,943 shares of the company’s stock, valued at approximately $3,187,000.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position 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 worth $918,000 after purchasing an additional 654 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of IDEXX Laboratories by 13.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company’s stock worth $10,731,000 after purchasing an additional 2,931 shares during the period. 1900 Wealth Management LLC boosted its position in shares of IDEXX Laboratories by 9.7% during the first quarter. 1900 Wealth Management LLC now owns 850 shares of the company’s stock worth $357,000 after buying an additional 75 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of IDEXX Laboratories by 9.3% during the first quarter. Janney Montgomery Scott LLC now owns 43,786 shares of the company’s stock worth $18,388,000 after buying an additional 3,728 shares during the period. Finally, Western Pacific Wealth Management LP boosted its position in shares of IDEXX Laboratories by 50.0% during the first quarter. Western Pacific Wealth Management LP now owns 303 shares of the company’s stock worth $127,000 after buying an additional 101 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on IDXX shares. UBS Group started coverage on IDEXX Laboratories in a report on Wednesday, October 1st. They set a “neutral” rating and a $720.00 target price for the company. BTIG Research raised their price objective on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. lifted their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a report on Monday, August 4th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of IDEXX Laboratories in a research report on Wednesday, October 8th. One investment 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $656.50.

IDEXX Laboratories Stock Up 2.8%

Shares of IDEXX Laboratories stock opened at $633.32 on Tuesday. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The company has a 50 day moving average of $640.50 and a 200 day moving average of $545.08. 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 $50.67 billion, a P/E ratio of 52.73, a P/E/G ratio of 3.99 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.35. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the completion of the sale, the executive vice president directly owned 7,132 shares of the company’s stock, valued at $4,477,041.68. The trade was a 54.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nimrata Hunt sold 1,200 shares of IDEXX Laboratories stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $656.53, for a total value of $787,836.00. Following the sale, the executive vice president directly owned 16,807 shares of the company’s stock, valued at $11,034,299.71. This trade represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is currently owned by company 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.