Dynamic Technology Lab Private Ltd Takes $1.70 Million Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Dynamic Technology Lab Private Ltd purchased 4,045 shares of IDEXX Laboratories, valued at approximately $1,699,000, indicating growing institutional interest in the company.
• Several hedge funds made adjustments to their positions in IDEXX Laboratories, with 87.84% of the company's stock now owned by institutional investors.
• IDEXX Laboratories recently reported earnings of $3.63 per share, surpassing analysts' expectations, and guidance for FY 2025 is set at 12.400-12.760 EPS.

Dynamic Technology Lab Private Ltd purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,045 shares of the company's stock, valued at approximately $1,699,000.

A number of other institutional investors and hedge funds have also modified their holdings of IDXX. MorganRosel Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories during the first quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. grew its position in IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after buying an additional 30 shares in the last quarter. Colonial Trust Co SC raised its stake in shares of IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after buying an additional 39 shares in the last quarter. WPG Advisers LLC acquired a new stake in IDEXX Laboratories in the 1st quarter valued at $37,000. Finally, Bank of Jackson Hole Trust increased its holdings in shares of IDEXX Laboratories by 328.6% during the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Down 2.7%

IDXX traded down $17.65 during mid-day trading on Wednesday, reaching $637.95. 389,093 shares of the stock were exchanged, compared to its average volume of 390,027. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The stock has a market capitalization of $51.04 billion, a PE ratio of 54.59, a price-to-earnings-growth ratio of 4.25 and a beta of 1.56. The company has a 50 day moving average price of $597.81 and a two-hundred day moving average price of $509.91. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.35. The business 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 business's revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Wall Street Analyst Weigh In

IDXX has been the subject of several research reports. Morgan Stanley lifted their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research note on Friday, August 15th. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Piper Sandler reissued a "neutral" rating and set a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. JPMorgan Chase & Co. lifted their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, BTIG Research upped their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, IDEXX Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $649.44.

Insider Buying and Selling

In related news, EVP Sharon E. Underberg sold 5,450 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $651.60, for a total value of $3,551,220.00. Following the sale, the executive vice president owned 6,156 shares in the company, valued at approximately $4,011,249.60. This trade represents a 46.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director M Anne Szostak sold 2,187 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director directly owned 262 shares in the company, valued at $169,600.46. This represents a 89.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,057 shares of company stock worth $34,293,468 in the last 90 days. 0.98% of the stock is currently owned by company insiders.

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.