Flagship Harbor Advisors LLC Has $1.33 Million Position in IDEXX Laboratories, Inc. $IDXX

Flagship Harbor Advisors LLC lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 16.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,480 shares of the company’s stock after selling 506 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in IDEXX Laboratories were worth $1,330,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of IDEXX Laboratories by 1.5% during the first quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company’s stock worth $4,139,001,000 after acquiring an additional 146,427 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of IDEXX Laboratories by 71.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company’s stock worth $835,244,000 after acquiring an additional 825,965 shares during the last quarter. Invesco Ltd. raised its position in shares of IDEXX Laboratories by 0.5% during the first quarter. Invesco Ltd. now owns 1,166,406 shares of the company’s stock worth $489,832,000 after acquiring an additional 5,418 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of IDEXX Laboratories by 58.3% during the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company’s stock worth $472,865,000 after acquiring an additional 414,802 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of IDEXX Laboratories by 37.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,429 shares of the company’s stock worth $452,046,000 after acquiring an additional 290,551 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 29,260 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total value of $18,491,734.80. Following the completion of the transaction, the chief executive officer directly owned 83,311 shares of the company’s stock, valued at approximately $52,650,885.78. The trade was a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Lane sold 8,411 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total value of $5,279,921.14. Following the completion of the transaction, the executive vice president directly owned 7,132 shares of the company’s stock, valued at approximately $4,477,041.68. The trade was a 54.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 54,057 shares of company stock valued at $34,293,468. Insiders own 0.98% of the company’s stock.

IDEXX Laboratories Trading Up 0.1%

NASDAQ IDXX opened at $628.54 on Friday. The stock has a 50-day simple moving average of $638.21 and a 200 day simple moving average of $565.90. The company has a market capitalization of $50.28 billion, a PE ratio of 52.33, a P/E/G ratio of 4.06 and a beta of 1.58. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Piper Sandler restated a “neutral” rating and set a $700.00 target price (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Leerink Partners boosted their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. BTIG Research boosted their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Wall Street Zen downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 28th. Finally, UBS Group started coverage on IDEXX Laboratories in a report on Wednesday, October 1st. They issued a “neutral” rating and a $720.00 price objective for the company. 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.