IDEXX Laboratories, Inc. $IDXX Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC decreased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,017 shares of the company’s stock after selling 829 shares during the quarter. Welch & Forbes LLC’s holdings in IDEXX Laboratories were worth $90,651,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IDXX. DAVENPORT & Co LLC grew its position in shares of IDEXX Laboratories by 20.2% in the first quarter. DAVENPORT & Co LLC now owns 6,793 shares of the company’s stock valued at $2,853,000 after purchasing an additional 1,140 shares during the period. Keybank National Association OH grew its position in shares of IDEXX Laboratories by 7.8% in the first quarter. Keybank National Association OH now owns 4,061 shares of the company’s stock valued at $1,705,000 after purchasing an additional 294 shares during the period. Private Trust Co. NA grew its position in shares of IDEXX Laboratories by 21.2% in the first quarter. Private Trust Co. NA now owns 240 shares of the company’s stock valued at $101,000 after purchasing an additional 42 shares during the period. D.A. Davidson & CO. grew its position in shares of IDEXX Laboratories by 7.5% in the first quarter. D.A. Davidson & CO. now owns 1,800 shares of the company’s stock valued at $756,000 after purchasing an additional 126 shares during the period. Finally, OneDigital Investment Advisors LLC grew its position in shares of IDEXX Laboratories by 32.1% in the first quarter. OneDigital Investment Advisors LLC now owns 744 shares of the company’s stock valued at $312,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of IDEXX Laboratories in a research report on Wednesday, October 8th. Stifel Nicolaus raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and raised their price target for the stock from $640.00 to $700.00 in a research note on Friday. Morgan Stanley raised their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an “overweight” rating in a research note on Friday, August 15th. UBS Group assumed coverage on shares of IDEXX Laboratories in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $720.00 price target on the stock. Finally, BTIG Research raised their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average price target of $662.50.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, 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 transaction, the executive vice president directly owned 7,132 shares of the company’s stock, valued at $4,477,041.68. The trade was a 54.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the transaction, the executive vice president directly 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 SEC filing for this sale provides additional information. Insiders sold 54,057 shares of company stock valued at $34,293,468 over the last ninety days. Corporate insiders own 0.98% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $629.51 on Friday. 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’s 50-day moving average is $637.89 and its two-hundred day moving average is $568.60. 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 $50.36 billion, a PE ratio of 52.42, a price-to-earnings-growth ratio of 4.06 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping 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 in the previous year, the firm earned $2.44 earnings per share. IDEXX Laboratories’s quarterly 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. Analysts predict 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.