Aberdeen Group plc Sells 152,528 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Aberdeen Group plc reduced its stake in IDEXX Laboratories by 62.9%, now holding approximately 90,131 shares valued at $37.4 million after selling 152,528 shares in the first quarter.
• Multiple firms have raised their price targets for IDEXX, with Morgan Stanley boosting it from $722 to $765, indicating a favorable outlook according to their "overweight" rating.
• IDXX reported a 10.6% year-over-year revenue increase of $1.11 billion and an EPS of $3.63, surpassing analysts' estimates for the quarter ending August 4th.

Aberdeen Group plc lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 62.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 90,131 shares of the company's stock after selling 152,528 shares during the period. Aberdeen Group plc owned 0.11% of IDEXX Laboratories worth $37,434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in IDEXX Laboratories by 1.5% during the first quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company's stock valued at $4,139,001,000 after purchasing an additional 146,427 shares in the last quarter. Bamco Inc. NY lifted its position in shares of IDEXX Laboratories by 4.3% in the fourth quarter. Bamco Inc. NY now owns 2,005,522 shares of the company's stock valued at $829,163,000 after acquiring an additional 82,264 shares in the last quarter. Invesco Ltd. lifted its position in shares of IDEXX Laboratories by 0.5% in the first quarter. Invesco Ltd. now owns 1,166,406 shares of the company's stock valued at $489,832,000 after acquiring an additional 5,418 shares in the last quarter. Principal Financial Group Inc. lifted its position 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 acquiring an additional 414,802 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of IDEXX Laboratories by 59,810.7% in the first quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock valued at $3,856,950,000 after acquiring an additional 916,898 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of IDXX traded up $13.33 during mid-day trading on Friday, reaching $646.38. 123,293 shares of the company's stock were exchanged, compared to its average volume of 720,353. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The company has a 50-day simple moving average of $567.48 and a two-hundred day simple moving average of $492.73. The company has a market cap of $51.71 billion, a price-to-earnings ratio of 53.78, a PEG ratio of 4.14 and a beta of 1.49. 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 (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The company had revenue of $1.11 billion for 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 revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the business earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In related news, CEO Jonathan Jay Mazelsky sold 29,260 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $631.98, for a total transaction of $18,491,734.80. Following the completion of the sale, the chief executive officer directly owned 83,311 shares of the company's stock, valued at $52,650,885.78. This represents a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nimrata Hunt sold 1,200 shares of the company's stock in a transaction that occurred 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 completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,870 shares of company stock worth $32,877,757. 0.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a research note on Monday, August 4th. BTIG Research lifted their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. JPMorgan Chase & Co. boosted their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, Piper Sandler reissued a "neutral" rating and issued a $700.00 target price (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. One 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. According to data from MarketBeat, the stock 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.