Pacific Point Advisors LLC Increases Position in IDEXX Laboratories, Inc. $IDXX

Pacific Point Advisors LLC lifted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,636 shares of the company’s stock after purchasing an additional 179 shares during the quarter. IDEXX Laboratories comprises about 1.1% of Pacific Point Advisors LLC’s holdings, making the stock its 16th biggest position. Pacific Point Advisors LLC’s holdings in IDEXX Laboratories were worth $1,950,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of IDXX. MorganRosel Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the 1st quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new stake in IDEXX Laboratories in the 2nd quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in IDEXX Laboratories by 55.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock worth $35,000 after buying an additional 30 shares during the last quarter. WPG Advisers LLC acquired a new stake in IDEXX Laboratories in the 1st quarter worth about $37,000. Finally, Bank of Jackson Hole Trust boosted its holdings in 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 last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Transactions at IDEXX Laboratories

In related news, EVP Sharon E. Underberg sold 5,450 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $651.60, for a total value of $3,551,220.00. Following the transaction, the executive vice president directly owned 6,156 shares in the company, valued at approximately $4,011,249.60. This represents a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $631.98, for a total value of $18,491,734.80. Following the completion of the transaction, the chief executive officer owned 83,311 shares in the company, valued at $52,650,885.78. This represents a 25.99% 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 in the last ninety days. 0.98% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IDXX shares. JPMorgan Chase & Co. lifted their price objective on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Wall Street Zen cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Sunday. Morgan Stanley lifted their price objective on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an “overweight” rating in a report on Friday, August 15th. Jefferies Financial Group started coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They issued a “buy” rating and a $625.00 price objective on the stock. Finally, Stifel Nicolaus set a $640.00 price objective on IDEXX Laboratories in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $649.44.

IDEXX Laboratories Trading Up 1.3%

Shares of IDEXX Laboratories stock opened at $638.89 on Wednesday. The stock has a market cap of $51.11 billion, a P/E ratio of 53.20, a P/E/G ratio of 4.08 and a beta of 1.56. The stock’s 50 day simple moving average is $629.94 and its 200-day simple moving average is $531.26. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. 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 (NASDAQ:IDXX) last issued its earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 64.42% and a net margin of 24.41%.The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal 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.