Envestnet Asset Management Inc. Purchases 69,082 Shares of IDEXX Laboratories, Inc. $IDXX

Envestnet Asset Management Inc. lifted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 42.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 230,911 shares of the company’s stock after buying an additional 69,082 shares during the period. Envestnet Asset Management Inc. owned about 0.29% of IDEXX Laboratories worth $123,847,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. MorganRosel Wealth Management LLC bought a new position in IDEXX Laboratories during the first quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new position in IDEXX Laboratories during the second quarter valued at approximately $29,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in IDEXX Laboratories by 55.6% during the first 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 period. Ameritas Advisory Services LLC purchased a new stake in IDEXX Laboratories during the second quarter valued at approximately $36,000. Finally, WPG Advisers LLC purchased a new stake in IDEXX Laboratories during the first quarter valued at approximately $37,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on IDXX. UBS Group began coverage on shares of IDEXX Laboratories in a report on Wednesday, October 1st. They set a “neutral” rating and a $720.00 target price for the company. JPMorgan Chase & Co. upped their target price 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of IDEXX Laboratories in a report on Wednesday, October 8th. Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a “buy” rating and a $625.00 target price for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $700.00 target price (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $656.50.

Insider Activity at IDEXX Laboratories

In related news, Director M Anne Szostak sold 2,187 shares of the firm’s 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 completion of the transaction, the director directly owned 262 shares of the company’s stock, valued at approximately $169,600.46. This trade represents a 89.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nimrata Hunt sold 7,143 shares of the firm’s 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 transaction, the executive vice president directly owned 18,007 shares of the company’s stock, valued at $11,352,153.01. The trade was a 28.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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

Shares of NASDAQ IDXX opened at $634.36 on Wednesday. The firm has a fifty day moving average price of $638.55 and a 200-day moving average price of $563.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. The stock has a market cap of $50.75 billion, a PE ratio of 52.82, a price-to-earnings-growth ratio of 4.19 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.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data 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 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 company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

IDEXX Laboratories Company Profile

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.