Louisiana State Employees Retirement System Has $5.42 Million Stock Position in IDEXX Laboratories, Inc. $IDXX

Louisiana State Employees Retirement System reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,100 shares of the company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in IDEXX Laboratories were worth $5,417,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mutual of America Capital Management LLC raised its holdings in 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 acquiring an additional 8,609 shares during the period. Golden State Wealth Management LLC raised its holdings in 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 acquiring an additional 113 shares during the period. Plato Investment Management Ltd raised its holdings in IDEXX Laboratories by 37.1% in the 1st quarter. Plato Investment Management Ltd now owns 3,087 shares of the company’s stock valued at $1,310,000 after acquiring an additional 835 shares during the period. Sagespring Wealth Partners LLC bought a new position in IDEXX Laboratories in the 1st quarter valued at about $229,000. Finally, Genesis Wealth Advisors LLC bought a new position in IDEXX Laboratories in the 2nd quarter valued at about $215,000. 87.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an “overweight” rating in a report on Friday, August 15th. Wall Street Zen cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a 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 started 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. Finally, Leerink Partners raised their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average target price of $656.50.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $629.91 on Thursday. The company’s 50 day simple moving average is $637.99 and its 200 day simple moving average is $539.07. The stock has a market capitalization of $50.40 billion, a price-to-earnings ratio of 52.45, a price-to-earnings-growth ratio of 4.06 and a beta of 1.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX) last announced 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. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP Sharon E. Underberg sold 5,450 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $651.60, for a total value of $3,551,220.00. Following 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Director M Anne Szostak sold 2,187 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the transaction, the director owned 262 shares of the company’s stock, valued at $169,600.46. This trade represents a 89.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,057 shares of company stock valued at $34,293,468 over the last three months. 0.98% of the stock is owned by corporate insiders.

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.