6,526 Shares in IDEXX Laboratories, Inc. $IDXX Purchased by Element Capital Management LLC

Key Points

• Element Capital Management LLC acquired 6,526 shares of IDEXX Laboratories, valued at approximately $2.74 million, during the first quarter, reflecting increasing interest from institutional investors.
• IDEXX Laboratories reported earnings of $3.63 per share for the last quarter, exceeding analyst expectations and showing a 10.6% rise in revenue year-over-year.
• Analysts have given IDEXX Laboratories a consensus rating of "Moderate Buy" with an average target price of $644.67, indicating positive outlook among investment experts.

Element Capital Management LLC purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,526 shares of the company's stock, valued at approximately $2,741,000.

A number of other large investors have also added to or reduced their stakes in IDXX. GAMMA Investing LLC grew its position in IDEXX Laboratories by 59,810.7% during the first quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock worth $3,856,950,000 after buying an additional 916,898 shares in the last quarter. Nuveen LLC acquired a new stake in IDEXX Laboratories during the first quarter worth approximately $179,784,000. Principal Financial Group Inc. lifted its holdings in shares of IDEXX Laboratories by 58.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock worth $472,865,000 after acquiring an additional 414,802 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of IDEXX Laboratories during the 4th quarter worth approximately $156,412,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of IDEXX Laboratories by 221.3% during the 4th quarter. BNP Paribas Financial Markets now owns 441,319 shares of the company's stock worth $182,459,000 after acquiring an additional 303,966 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the transaction, the executive vice president owned 6,156 shares of the company's stock, valued at $4,011,249.60. This trade represents a 46.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the transaction, the executive vice president directly owned 7,132 shares in the company, valued at approximately $4,477,041.68. This represents a 54.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,870 shares of company stock worth $32,877,757 in the last ninety days. 0.98% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Stock Up 0.5%

Shares of NASDAQ IDXX traded up $3.14 during trading on Wednesday, hitting $639.85. 525,226 shares of the company traded hands, compared to its average volume of 845,060. The firm has a market capitalization of $51.19 billion, a price-to-earnings ratio of 53.28, a P/E/G ratio of 4.12 and a beta of 1.49. The business's fifty day moving average is $565.36 and its 200 day moving average is $491.59. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. IDEXX Laboratories's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Equities research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IDXX has been the topic of a number of research analyst reports. Piper Sandler reaffirmed a "neutral" rating and issued a $700.00 target price (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price on the stock. BTIG Research raised 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. Leerink Partners raised their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. raised their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $649.44.

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.