Select Equity Group L.P. Buys Shares of 463,946 IDEXX Laboratories, Inc. $IDXX

Select Equity Group L.P. bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the first quarter, HoldingsChannel.com reports. The fund bought 463,946 shares of the company’s stock, valued at approximately $194,834,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Balyasny Asset Management L.P. raised its stake in IDEXX Laboratories by 230.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,455 shares of the company’s stock valued at $1,015,000 after acquiring an additional 1,712 shares in the last quarter. Captrust Financial Advisors lifted its position in IDEXX Laboratories by 22.7% in the fourth quarter. Captrust Financial Advisors now owns 5,825 shares of the company’s stock worth $2,408,000 after purchasing an additional 1,078 shares during the period. Colonial Trust Co SC lifted its position in IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock worth $35,000 after purchasing an additional 39 shares during the period. Deutsche Bank AG lifted its position in IDEXX Laboratories by 17.9% in the fourth quarter. Deutsche Bank AG now owns 357,479 shares of the company’s stock worth $147,796,000 after purchasing an additional 54,360 shares during the period. Finally, Focus Partners Wealth lifted its position in IDEXX Laboratories by 175.2% in the fourth quarter. Focus Partners Wealth now owns 40,576 shares of the company’s stock worth $17,603,000 after purchasing an additional 25,830 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IDXX. Wall Street Zen upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They set a “buy” rating and a $625.00 price objective for the company. Piper Sandler reiterated a “neutral” rating and set a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. BTIG Research increased their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Finally, Morgan Stanley increased their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the company an “overweight” rating in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $649.44.

Insider Activity

In other IDEXX Laboratories news, Director M Anne Szostak sold 2,187 shares of the stock in a transaction on Friday, August 22nd. The shares were 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 $169,600.46. This represents a 89.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sharon E. Underberg sold 5,450 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $651.60, for a total value of $3,551,220.00. Following the completion of the sale, the executive vice president directly owned 6,156 shares in the company, valued at approximately $4,011,249.60. This represents a 46.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,057 shares of company stock valued at $34,293,468. Corporate insiders own 0.98% of the company’s stock.

IDEXX Laboratories Trading Up 0.4%

NASDAQ IDXX opened at $642.99 on Friday. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $51.44 billion, a PE ratio of 53.54, a price-to-earnings-growth ratio of 4.16 and a beta of 1.56. The firm’s fifty day simple moving average is $593.22 and its 200-day simple moving average is $507.11.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.35. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. IDEXX Laboratories’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

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.