Inspire Investing LLC Raises Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Inspire Investing LLC raised its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 34.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 13,577 shares of the company’s stock after acquiring an additional 3,472 shares during the period. IDEXX Laboratories comprises about 0.7% of Inspire Investing LLC’s investment portfolio, making the stock its 24th biggest position. Inspire Investing LLC’s holdings in IDEXX Laboratories were worth $5,702,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Mutual of America Capital Management LLC lifted its holdings 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 buying an additional 8,609 shares during the period. Golden State Wealth Management LLC increased its stake in shares of IDEXX Laboratories by 3,766.7% in the 1st quarter. Golden State Wealth Management LLC now owns 116 shares of the company’s stock valued at $49,000 after purchasing an additional 113 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new position in shares of IDEXX Laboratories in the 1st quarter valued at about $229,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of IDEXX Laboratories by 13.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company’s stock valued at $10,731,000 after purchasing an additional 2,931 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of IDEXX Laboratories by 4.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,225 shares of the company’s stock valued at $934,000 after purchasing an additional 94 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. BTIG Research lifted their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Wall Street Zen upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a research note on Monday, August 4th. Leerink Partners lifted their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. Finally, Morgan Stanley lifted their price target on IDEXX Laboratories from $722.00 to $765.00 and gave the company an “overweight” rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $649.44.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $645.16 on Friday. The company’s 50-day moving average is $601.69 and its two-hundred day moving average is $512.04. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. 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 firm has a market capitalization of $51.62 billion, a price-to-earnings ratio of 53.72, a PEG ratio of 4.13 and a beta of 1.56.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company posted $2.44 EPS. The company’s quarterly 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. Analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michael Lane sold 8,411 shares of the business’s 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nimrata Hunt sold 7,143 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the transaction, the executive vice president owned 18,007 shares of the company’s stock, valued at $11,352,153.01. This trade represents a 28.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is owned by company insiders.

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.