Wealth Alliance LLC Buys New Holdings in IDEXX Laboratories, Inc. $IDXX

Wealth Alliance LLC purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 704 shares of the company’s stock, valued at approximately $378,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IDXX. Alps Advisors Inc. acquired a new stake in IDEXX Laboratories during the 1st quarter worth approximately $357,000. Mutual of America Capital Management LLC increased its position in shares of IDEXX Laboratories by 79.6% in the first quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company’s stock worth $8,160,000 after acquiring an additional 8,609 shares in the last quarter. CWM LLC increased its position in shares of IDEXX Laboratories by 59.1% in the first quarter. CWM LLC now owns 6,075 shares of the company’s stock worth $2,551,000 after acquiring an additional 2,256 shares in the last quarter. Signaturefd LLC raised its stake in shares of IDEXX Laboratories by 12.2% in the 1st quarter. Signaturefd LLC now owns 1,416 shares of the company’s stock valued at $595,000 after acquiring an additional 154 shares during the period. Finally, Wealthfront Advisers LLC raised its stake in shares of IDEXX Laboratories by 7.0% in the 1st quarter. Wealthfront Advisers LLC now owns 6,546 shares of the company’s stock valued at $2,749,000 after acquiring an additional 428 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Stifel Nicolaus set a $775.00 price target on shares of IDEXX Laboratories in a research report on Monday, November 3rd. Piper Sandler reiterated a “neutral” rating and issued a $700.00 target price (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. JPMorgan Chase & Co. raised their target price on IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. UBS Group upped their price target on IDEXX Laboratories from $710.00 to $750.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of IDEXX Laboratories in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $730.50.

IDEXX Laboratories Stock Down 1.7%

Shares of NASDAQ:IDXX opened at $701.48 on Friday. The firm has a market cap of $56.01 billion, a PE ratio of 58.41, a price-to-earnings-growth ratio of 4.06 and a beta of 1.62. The company has a fifty day simple moving average of $650.81 and a 200 day simple moving average of $585.94. 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, Inc. has a 12-month low of $356.14 and a 12-month high of $735.00.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.08. 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 the consensus estimate of $1.07 billion. During the same quarter in the previous year, the firm earned $2.80 EPS. The company’s revenue was up 13.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. On average, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 9,425 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $703.34, for a total transaction of $6,628,979.50. Following the completion of the transaction, the executive vice president directly owned 21,149 shares of the company’s stock, valued at approximately $14,874,937.66. This represents a 30.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director M Anne Szostak sold 2,187 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $647.33, for a total value of $1,415,710.71. Following the completion of the sale, the director owned 262 shares in the company, valued at $169,600.46. The trade was a 89.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.98% of the company’s stock.

IDEXX Laboratories 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.