S Bank Fund Management Ltd Reduces Position in IDEXX Laboratories, Inc. $IDXX

by · The Cerbat Gem

S Bank Fund Management Ltd lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX – Free Report) by 6.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,196 shares of the company’s stock after selling 79 shares during the period. S Bank Fund Management Ltd’s holdings in IDEXX Laboratories were worth $641,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC boosted its stake in IDEXX Laboratories by 79.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company’s stock worth $8,160,000 after buying an additional 8,609 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in IDEXX Laboratories by 3,766.7% in the 1st quarter. Golden State Wealth Management LLC now owns 116 shares of the company’s stock worth $49,000 after buying an additional 113 shares during the last quarter. Plato Investment Management Ltd boosted its stake in IDEXX Laboratories by 37.1% in the 1st quarter. Plato Investment Management Ltd now owns 3,087 shares of the company’s stock worth $1,310,000 after buying an additional 835 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new stake in IDEXX Laboratories in the 1st quarter worth about $229,000. Finally, Genesis Wealth Advisors LLC acquired a new stake in IDEXX Laboratories in the 2nd quarter worth about $215,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Trading Down 0.3%

Shares of IDXX opened at $637.34 on Friday. The stock’s 50-day moving average is $640.44 and its two-hundred day moving average is $547.86. The stock has a market cap of $50.99 billion, a PE ratio of 53.07, a P/E/G ratio of 4.14 and a beta of 1.58. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month 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 – Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.35. The company 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 firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Equities analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 2,187 shares of the business’s stock in a transaction dated 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 owned 262 shares in the company, valued at $169,600.46. The trade was a 89.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nimrata Hunt sold 7,143 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $630.43, for a total value of $4,503,161.49. Following the completion of the transaction, the executive vice president owned 18,007 shares in the company, valued at approximately $11,352,153.01. This trade represents a 28.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,057 shares of company stock valued at $34,293,468 over the last 90 days. Corporate insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on IDXX shares. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a research note on Monday, August 4th. JPMorgan Chase & Co. boosted their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. BTIG Research boosted their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. UBS Group began coverage on IDEXX Laboratories in a research report on Wednesday, October 1st. They set a “neutral” rating and a $720.00 price target for the company. Finally, Wall Street Zen downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $656.50.

Get Our Latest Research Report on IDXX

IDEXX Laboratories Company Profile

(Free Report)

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.

Further Reading

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