496 Shares in IDEXX Laboratories, Inc. $IDXX Purchased by Symmetry Partners LLC

Key Points

• Symmetry Partners LLC purchased 496 shares of IDEXX Laboratories, Inc. during the 2nd quarter, valued at approximately $266,000.
• Institutional investors and hedge funds collectively own 87.84% of IDEXX Laboratories' stock, with significant recent increases in positions from several firms.
• IDEXX Laboratories reported better-than-expected Q2 earnings, with earnings per share (EPS) of $3.63, surpassing analysts' expectations by $0.35.

Symmetry Partners LLC bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 496 shares of the company's stock, valued at approximately $266,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of IDEXX Laboratories by 71.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock worth $835,244,000 after buying an additional 825,965 shares during the last quarter. Select Equity Group L.P. acquired a new stake in IDEXX Laboratories in the first quarter valued at approximately $194,834,000. Nuveen LLC purchased a new position in shares of IDEXX Laboratories during the first quarter valued at approximately $179,784,000. Principal Financial Group Inc. boosted its position in IDEXX Laboratories by 58.3% in the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock worth $472,865,000 after purchasing an additional 414,802 shares during the last quarter. Finally, Durable Capital Partners LP bought a new position in shares of IDEXX Laboratories during the 1st quarter worth $153,180,000. Institutional investors and hedge funds own 87.84% of the company's stock.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP Michael Lane sold 8,411 shares of the 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 transaction, the executive vice president owned 7,132 shares in the company, valued at $4,477,041.68. This represents a 54.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael G. Erickson sold 406 shares of IDEXX Laboratories stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total transaction of $263,883.76. Following the sale, the executive vice president owned 11,287 shares in the company, valued at approximately $7,336,098.52. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is owned by company insiders.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $632.22 on Friday. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12. The firm has a market capitalization of $50.58 billion, a PE ratio of 52.64, a price-to-earnings-growth ratio of 4.09 and a beta of 1.56. The business's fifty day moving average price is $625.60 and its 200 day moving average price is $528.15. 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 earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on IDXX. Wall Street Zen cut IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a report on Sunday. JPMorgan Chase & Co. upped their price objective on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Piper Sandler reissued a "neutral" rating and set a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. BTIG Research increased their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Jefferies Financial Group initiated coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $649.44.

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.

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