Greenleaf Trust Reduces Stock Position in IDEXX Laboratories, Inc. $IDXX

Greenleaf Trust lessened its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.7% in the second quarter, HoldingsChannel reports. The firm owned 1,600 shares of the company’s stock after selling 191 shares during the quarter. Greenleaf Trust’s holdings in IDEXX Laboratories were worth $858,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in IDEXX Laboratories during the 1st quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in IDEXX Laboratories during the 2nd quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. increased its position in IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock worth $35,000 after purchasing an additional 30 shares in the last quarter. WPG Advisers LLC purchased a new stake in IDEXX Laboratories in the 1st quarter valued at about $37,000. Finally, Bank of Jackson Hole Trust grew 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 valued at $39,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They issued a “buy” rating and a $625.00 price target for the company. UBS Group assumed coverage on IDEXX Laboratories in a report on Wednesday. They issued a “neutral” rating and a $720.00 price target for the company. Morgan Stanley lifted their price target on IDEXX Laboratories from $722.00 to $765.00 and gave the company an “overweight” rating in a report on Friday, August 15th. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a report on Monday, August 4th. Finally, Wall Street Zen cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $656.50.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $633.84 on Friday. The firm has a market capitalization of $50.71 billion, a P/E ratio of 52.78, a P/E/G ratio of 4.02 and a beta of 1.58. 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. The business’s 50-day simple moving average is $633.20 and its 200-day simple moving average is $533.33.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data 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. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The company’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 2,187 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the transaction, the director directly owned 262 shares of the company’s stock, valued at approximately $169,600.46. The trade was a 89.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total value of $18,491,734.80. Following the transaction, the chief executive officer directly owned 83,311 shares in the company, valued at $52,650,885.78. This trade represents a 25.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is owned by insiders.

IDEXX Laboratories 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.