Envestnet Asset Management Inc. Boosts Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Envestnet Asset Management Inc. raised its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 42.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 230,911 shares of the company’s stock after purchasing an additional 69,082 shares during the quarter. Envestnet Asset Management Inc.’s holdings in IDEXX Laboratories were worth $123,847,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new position in IDEXX Laboratories during the first quarter valued at $26,000. Opal Wealth Advisors LLC bought a new position in IDEXX Laboratories during the second quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock valued at $35,000 after purchasing an additional 30 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in IDEXX Laboratories during the second quarter valued at $36,000. Finally, WPG Advisers LLC bought a new position in IDEXX Laboratories during the first quarter valued at $37,000. Institutional investors own 87.84% of the company’s stock.

Insider Activity at IDEXX Laboratories

In related 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 sale, the director owned 262 shares in the company, valued at $169,600.46. This trade represents a 89.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the sale, the executive vice president owned 7,132 shares of the company’s stock, valued at $4,477,041.68. The trade was a 54.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,057 shares of company stock worth $34,293,468 over the last ninety days. 0.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IDXX has been the subject of several research reports. Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a research report on Monday, August 4th. Piper Sandler reiterated a “neutral” rating and set a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. 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. UBS Group initiated coverage on shares of IDEXX Laboratories in a report on Wednesday, October 1st. They issued a “neutral” rating and a $720.00 target price for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of IDEXX Laboratories in a report on Wednesday, October 8th. One equities research 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 stock. According to MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $656.50.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $634.36 on Wednesday. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $688.12. The firm has a 50-day moving average price of $638.55 and a 200-day moving average price of $563.81. The firm has a market capitalization of $50.75 billion, a PE ratio of 52.82, a price-to-earnings-growth ratio of 4.19 and a beta of 1.58. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share 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 during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the business posted $2.44 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS 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.