Waratah Capital Advisors Ltd. Trims Position in IDEXX Laboratories, Inc. $IDXX

Waratah Capital Advisors Ltd. decreased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 78.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,709 shares of the company’s stock after selling 98,084 shares during the period. Waratah Capital Advisors Ltd.’s holdings in IDEXX Laboratories were worth $14,861,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC grew its stake in shares of IDEXX Laboratories by 79.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company’s stock valued at $8,160,000 after purchasing an additional 8,609 shares during the last quarter. CWM LLC lifted its holdings in shares of IDEXX Laboratories by 59.1% during the first quarter. CWM LLC now owns 6,075 shares of the company’s stock worth $2,551,000 after purchasing an additional 2,256 shares during the period. Wealthfront Advisers LLC grew its position in IDEXX Laboratories by 7.0% in the 1st quarter. Wealthfront Advisers LLC now owns 6,546 shares of the company’s stock valued at $2,749,000 after buying an additional 428 shares during the last quarter. Larson Financial Group LLC increased its stake in IDEXX Laboratories by 10.0% in the 1st quarter. Larson Financial Group LLC now owns 670 shares of the company’s stock valued at $281,000 after buying an additional 61 shares during the period. Finally, Creekmur Asset Management LLC purchased a new position in IDEXX Laboratories during the 1st quarter worth $215,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $689.93 on Friday. The stock has a fifty day moving average price of $651.74 and a 200 day moving average price of $588.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The stock has a market cap of $55.09 billion, a PE ratio of 57.45, a P/E/G ratio of 4.06 and a beta of 1.62. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $735.00.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.08. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.IDEXX Laboratories’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. 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

IDXX has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. BTIG Research increased their target price on IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Weiss Ratings cut IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Jefferies Financial Group reaffirmed a “buy” rating and set a $830.00 price objective on shares of IDEXX Laboratories in a report on Tuesday, November 4th. Finally, Wall Street Zen raised IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $730.50.

Insider Activity

In other IDEXX Laboratories news, Director M Anne Szostak sold 2,187 shares of IDEXX Laboratories stock in a transaction dated 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 owned 262 shares in the company, valued at approximately $169,600.46. The trade was a 89.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nimrata Hunt sold 9,425 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $703.34, for a total transaction of $6,628,979.50. Following the completion of the sale, the executive vice president directly owned 21,149 shares in the company, valued at $14,874,937.66. This trade represents a 30.83% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.98% of the company’s stock.

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.