IDEXX Laboratories, Inc. $IDXX Shares Purchased by Ethic Inc.

Ethic Inc. boosted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,668 shares of the company’s stock after purchasing an additional 1,011 shares during the period. Ethic Inc.’s holdings in IDEXX Laboratories were worth $5,137,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in IDXX. Price T Rowe Associates Inc. MD lifted its position in IDEXX Laboratories by 71.0% in the first 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. Select Equity Group L.P. acquired a new stake in IDEXX Laboratories in the first quarter worth approximately $194,834,000. Nuveen LLC bought a new position in shares of IDEXX Laboratories in the first quarter valued at $179,784,000. Principal Financial Group Inc. increased its holdings in shares of IDEXX Laboratories by 58.3% in the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company’s stock valued at $472,865,000 after buying an additional 414,802 shares in the last quarter. Finally, Durable Capital Partners LP bought a new position in shares of IDEXX Laboratories in the first quarter valued at $153,180,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $638.60 on Friday. The company’s fifty day moving average is $638.60 and its two-hundred day moving average is $555.86. 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 has a market cap of $51.09 billion, a P/E ratio of 53.17, a price-to-earnings-growth ratio of 4.10 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) 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 company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the business earned $2.44 EPS. The company’s revenue was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Equities analysts expect 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, EVP Michael Lane sold 8,411 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the sale, the executive vice president directly owned 7,132 shares of the company’s stock, valued at $4,477,041.68. The trade was a 54.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nimrata Hunt sold 1,200 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $656.53, for a total transaction of $787,836.00. Following the transaction, the executive vice president owned 16,807 shares in the company, valued at approximately $11,034,299.71. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,057 shares of company stock worth $34,293,468. Insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on IDXX. Piper Sandler reaffirmed a “neutral” rating and issued a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Leerink Partners upped their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a report on Monday, August 4th. Morgan Stanley upped 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. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of IDEXX Laboratories in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $656.50.

IDEXX Laboratories Company 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.