Madrona Financial Services LLC Invests $224,000 in IDEXX Laboratories, Inc. $IDXX

Madrona Financial Services LLC bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 417 shares of the company’s stock, valued at approximately $224,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of IDEXX Laboratories by 1.5% in the first quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company’s stock worth $4,139,001,000 after acquiring an additional 146,427 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in IDEXX Laboratories by 71.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company’s stock worth $835,244,000 after purchasing an additional 825,965 shares during the period. Invesco Ltd. raised its holdings in IDEXX Laboratories by 0.5% in the 1st quarter. Invesco Ltd. now owns 1,166,406 shares of the company’s stock worth $489,832,000 after purchasing an additional 5,418 shares during the period. Principal Financial Group Inc. boosted its position in IDEXX Laboratories by 58.3% during the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company’s stock worth $472,865,000 after purchasing an additional 414,802 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in IDEXX Laboratories by 37.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,429 shares of the company’s stock valued at $452,046,000 after purchasing an additional 290,551 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on IDXX shares. JPMorgan Chase & Co. upped their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Morgan Stanley increased their price objective on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an “overweight” rating in a report on Friday, August 15th. UBS Group assumed coverage on shares of IDEXX Laboratories in a research report on Wednesday. They issued a “neutral” rating and a $720.00 target price on the stock. Leerink Partners upped their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Finally, Wall Street Zen cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $656.50.

IDEXX Laboratories Stock Down 2.9%

Shares of NASDAQ IDXX opened at $620.11 on Thursday. The stock has a market cap of $49.61 billion, a PE ratio of 51.63, a P/E/G ratio of 4.14 and a beta of 1.58. 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 $688.12. The company has a 50-day moving average of $631.52 and a 200 day moving average of $531.87.

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. 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 period in the previous year, the firm 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, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Activity

In related news, EVP Nimrata Hunt sold 7,143 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total value of $4,503,161.49. Following the completion of the sale, the executive vice president owned 18,007 shares of the company’s stock, valued at approximately $11,352,153.01. This represents a 28.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the transaction, the executive vice president directly owned 7,132 shares in the company, valued at $4,477,041.68. This trade represents a 54.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,057 shares of company stock worth $34,293,468. Insiders own 0.98% of the company’s stock.

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.