Novem Group Reduces Stock Position in IDEXX Laboratories, Inc. $IDXX

Novem Group decreased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 21.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,155 shares of the company’s stock after selling 591 shares during the period. Novem Group’s holdings in IDEXX Laboratories were worth $1,156,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in IDXX. MorganRosel Wealth Management LLC bought a new stake in IDEXX Laboratories during the 1st quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new position in shares of IDEXX Laboratories during the second quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of 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 acquiring an additional 30 shares in the last quarter. WPG Advisers LLC purchased a new stake in shares of IDEXX Laboratories in the first quarter valued at approximately $37,000. Finally, Bank of Jackson Hole Trust lifted its holdings in shares of IDEXX Laboratories by 328.6% in the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company’s stock worth $39,000 after buying an additional 69 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a research note on Monday, August 4th. Piper Sandler reiterated a “neutral” rating and set a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. BTIG Research boosted their price objective 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. Leerink Partners increased their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. boosted their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $649.44.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $618.17 on Friday. The company has a 50 day moving average of $623.25 and a two-hundred day moving average of $525.93. The company has a market cap of $49.45 billion, a price-to-earnings ratio of 51.47, a price-to-earnings-growth ratio of 4.06 and a beta of 1.56. 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 twelve month low of $356.14 and a twelve month high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Monday, August 4th. The company reported $3.63 EPS for the quarter, beating the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the business posted $2.44 EPS. The business’s revenue for the quarter 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. As a group, analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael G. Erickson sold 406 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $649.96, for a total transaction of $263,883.76. Following the sale, the executive vice president owned 11,287 shares in the company, valued at approximately $7,336,098.52. The trade was a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Lane sold 8,411 shares of the company’s 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 owned 7,132 shares in the company, valued at approximately $4,477,041.68. This trade represents a 54.11% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is currently 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.