PUREfi Wealth LLC Takes Position in IDEXX Laboratories, Inc. $IDXX

PUREfi Wealth LLC bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 2nd quarter, Holdings Channel reports. The fund bought 381 shares of the company’s stock, valued at approximately $204,000.

A number of other hedge funds have also modified their holdings of the company. Red Spruce Capital LLC raised its position in shares of IDEXX Laboratories by 1.1% in the 2nd quarter. Red Spruce Capital LLC now owns 1,701 shares of the company’s stock valued at $912,000 after acquiring an additional 19 shares during the period. Rise Advisors LLC raised its position in shares of IDEXX Laboratories by 3.9% in the 2nd quarter. Rise Advisors LLC now owns 562 shares of the company’s stock valued at $301,000 after acquiring an additional 21 shares during the period. Sage Mountain Advisors LLC raised its position in shares of IDEXX Laboratories by 3.8% in the 1st quarter. Sage Mountain Advisors LLC now owns 635 shares of the company’s stock valued at $267,000 after acquiring an additional 23 shares during the period. Great Lakes Advisors LLC raised its position in shares of IDEXX Laboratories by 0.9% in the 1st quarter. Great Lakes Advisors LLC now owns 2,567 shares of the company’s stock valued at $1,078,000 after acquiring an additional 23 shares during the period. Finally, PDS Planning Inc raised its position in shares of IDEXX Laboratories by 3.9% in the 1st quarter. PDS Planning Inc now owns 641 shares of the company’s stock valued at $269,000 after acquiring an additional 24 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Michael G. Erickson sold 406 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total value of $263,883.76. Following the sale, the executive vice president directly owned 11,287 shares in the company, valued at $7,336,098.52. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the completion of the sale, the executive vice president owned 6,156 shares in the company, valued at $4,011,249.60. This trade represents a 46.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,057 shares of company stock valued at $34,293,468 over the last ninety days. Insiders own 0.98% of the company’s stock.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $627.78 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.11 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. The company has a market capitalization of $50.22 billion, a PE ratio of 52.27, a price-to-earnings-growth ratio of 4.09 and a beta of 1.58. The firm’s 50 day moving average is $635.75 and its 200-day moving average is $537.82.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen downgraded shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 28th. JPMorgan Chase & Co. raised their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. 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 on the stock. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a report on Monday, August 4th. Finally, 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 on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and an average price target of $656.50.

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.