WealthTrust Axiom LLC Invests $219,000 in IDEXX Laboratories, Inc. $IDXX

WealthTrust Axiom LLC bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 409 shares of the company’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in shares of IDEXX Laboratories in the 2nd quarter valued at about $29,000. Ameritas Advisory Services LLC acquired a new position in IDEXX Laboratories in the second quarter valued at approximately $36,000. Elevation Point Wealth Partners LLC purchased a new position in IDEXX Laboratories in the second quarter valued at approximately $36,000. WPG Advisers LLC acquired a new stake in IDEXX Laboratories during the first quarter worth approximately $37,000. Finally, Bank of Jackson Hole Trust raised its holdings in IDEXX Laboratories by 328.6% during the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company’s stock worth $39,000 after purchasing an additional 69 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 9,425 shares of IDEXX Laboratories stock in a transaction on Friday, November 7th. The shares were sold at an average price of $703.34, for a total value of $6,628,979.50. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

IDXX has been the subject of several research analyst reports. Morgan Stanley upped their target price on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. BTIG Research boosted their price target on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of IDEXX Laboratories in a report on Tuesday. Piper Sandler reiterated 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. Finally, JPMorgan Chase & Co. boosted their target price on IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. One 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 an average rating of “Moderate Buy” and a consensus target price of $730.50.

IDEXX Laboratories Trading Down 0.4%

NASDAQ IDXX opened at $753.05 on Friday. The firm’s fifty day moving average is $666.95 and its two-hundred day moving average is $605.05. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $769.98. 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 firm has a market cap of $60.13 billion, a PE ratio of 62.70, a P/E/G ratio of 4.06 and a beta of 1.62.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, November 3rd. The company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.08. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company posted $2.80 earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

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.