Louisiana State Employees Retirement System Has $5.42 Million Holdings in IDEXX Laboratories, Inc. $IDXX

Louisiana State Employees Retirement System cut its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,100 shares of the company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in IDEXX Laboratories were worth $5,417,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of IDXX. MorganRosel Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the first quarter worth $26,000. Opal Wealth Advisors LLC acquired a new position in shares of IDEXX Laboratories during the second quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings 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 worth $35,000 after purchasing an additional 30 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of IDEXX Laboratories during the second quarter worth $36,000. Finally, WPG Advisers LLC acquired a new position in shares of IDEXX Laboratories during the first quarter worth $37,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Michael G. Erickson sold 406 shares of IDEXX Laboratories stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total value of $263,883.76. Following the completion of the sale, the executive vice president directly owned 11,287 shares of the company’s stock, valued at approximately $7,336,098.52. The trade was a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director M Anne Szostak sold 2,187 shares of IDEXX Laboratories stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the completion of the sale, the director directly owned 262 shares of the company’s stock, valued at approximately $169,600.46. This trade represents a 89.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is owned by insiders.

IDEXX Laboratories Price Performance

IDXX stock opened at $629.91 on Thursday. The firm has a market cap of $50.40 billion, a price-to-earnings ratio of 52.45, a PEG ratio of 4.06 and a beta of 1.58. 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 12-month low of $356.14 and a 12-month high of $688.12. The company’s fifty day simple moving average is $637.99 and its 200 day simple moving average is $539.07.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an “overweight” rating in a report on Friday, August 15th. Piper Sandler reiterated a “neutral” rating and set a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Leerink Partners lifted their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. Jefferies Financial Group initiated coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They issued a “buy” rating and a $625.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $656.50.

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.