Spire Wealth Management Sells 143 Shares of IDEXX Laboratories, Inc. $IDXX

Spire Wealth Management lessened its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 45.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 175 shares of the company’s stock after selling 143 shares during the period. Spire Wealth Management’s holdings in IDEXX Laboratories were worth $94,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mutual of America Capital Management LLC lifted its position in IDEXX Laboratories by 79.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company’s stock valued at $8,160,000 after purchasing an additional 8,609 shares during the period. Arkadios Wealth Advisors acquired a new position in IDEXX Laboratories during the 2nd quarter valued at about $405,000. Plato Investment Management Ltd lifted its position in IDEXX Laboratories by 37.1% during the 1st quarter. Plato Investment Management Ltd now owns 3,087 shares of the company’s stock valued at $1,310,000 after purchasing an additional 835 shares during the period. Genesis Wealth Advisors LLC acquired a new position in IDEXX Laboratories during the 2nd quarter valued at about $215,000. Finally, ORG Wealth Partners LLC acquired a new position in IDEXX Laboratories during the 2nd quarter valued at about $273,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 2,187 shares of the 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 completion of the sale, the director directly owned 262 shares of the company’s stock, valued at approximately $169,600.46. This represents a 89.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nimrata Hunt sold 1,200 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $656.53, for a total value of $787,836.00. Following the sale, the executive vice president directly owned 16,807 shares of the company’s stock, valued at approximately $11,034,299.71. The trade was a 6.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 9,243 shares of company stock valued at $6,018,650 in the last quarter. 0.98% of the stock is owned by company insiders.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $720.21 on Thursday. 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 stock has a market cap of $57.62 billion, a PE ratio of 59.97, a price-to-earnings-growth ratio of 4.06 and a beta of 1.62. The stock has a 50-day moving average of $642.72 and a 200-day moving average of $575.17. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $735.00.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Monday, November 3rd. The company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.26. 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 during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business earned $2.80 EPS. IDEXX Laboratories’s revenue for the quarter was up 13.3% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IDXX. Weiss Ratings restated a “buy (b-)” rating on shares of IDEXX Laboratories in a research report on Wednesday, October 8th. BTIG Research upped their target price on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a research report on Tuesday. Wall Street Zen downgraded shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 28th. JPMorgan Chase & Co. upped their target price on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $730.50.

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.