3,500 Shares in IDEXX Laboratories, Inc. $IDXX Bought by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. acquired a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 3,500 shares of the company’s stock, valued at approximately $1,877,000.

Other hedge funds also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in IDEXX Laboratories during the second quarter worth $29,000. MorganRosel Wealth Management LLC purchased a new position in IDEXX Laboratories during the first quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. increased 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 worth $35,000 after buying an additional 30 shares in the last quarter. WPG Advisers LLC purchased a new position in IDEXX Laboratories during the first quarter worth $37,000. Finally, Bank of Jackson Hole Trust increased its position in IDEXX Laboratories by 328.6% during the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company’s stock worth $39,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Sharon E. Underberg sold 5,450 shares of the business’s stock in a transaction dated 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 owned 6,156 shares in the company, valued at approximately $4,011,249.60. The trade was a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Lane sold 8,411 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total value of $5,279,921.14. Following the sale, the executive vice president owned 7,132 shares in the company, valued at $4,477,041.68. The trade was 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. Insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on IDXX shares. Jefferies Financial Group started coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They set a “buy” rating and a $625.00 price target for the company. Piper Sandler reissued a “neutral” rating and set a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. UBS Group assumed coverage on IDEXX Laboratories in a research report on Wednesday. They issued a “neutral” rating and a $720.00 price objective for the company. Wall Street Zen downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Leerink Partners lifted their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $656.50.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $620.11 on Thursday. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. The business has a 50-day moving average of $631.52 and a 200-day moving average of $531.87. 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 company has a market capitalization of $49.61 billion, a price-to-earnings ratio of 51.63, a PEG ratio of 4.14 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping 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 business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the firm posted $2.44 earnings per share. The company’s 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. On average, equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

IDEXX Laboratories Company 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.