AEGON ASSET MANAGEMENT UK Plc Purchases 16,237 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• AEGON ASSET MANAGEMENT UK Plc increased its stake in IDEXX Laboratories by 50.6%, acquiring an additional 16,237 shares, bringing its total holdings to 48,308 shares valued at approximately $25.9 million.
• Several hedge funds have made new investments in IDEXX Laboratories, contributing to institutional investors owning 87.84% of the company's stock.
• Research analysts have a Moderate Buy rating for IDEXX Laboratories, with an average target price of $656.50 and recent upgrades from firms like JPMorgan Chase & Co. and Piper Sandler.

AEGON ASSET MANAGEMENT UK Plc increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 50.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 48,308 shares of the company's stock after buying an additional 16,237 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned about 0.06% of IDEXX Laboratories worth $25,887,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in IDEXX Laboratories in the 2nd quarter worth $29,000. MorganRosel Wealth Management LLC bought a new position in IDEXX Laboratories in the 1st quarter worth $26,000. Ameritas Advisory Services LLC bought a new position in IDEXX Laboratories in the 2nd quarter worth $36,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in IDEXX Laboratories by 55.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after buying an additional 30 shares during the period. Finally, WPG Advisers LLC bought a new position in shares of IDEXX Laboratories during the 1st quarter valued at about $37,000. Institutional investors own 87.84% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on IDXX. JPMorgan Chase & Co. increased their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Weiss Ratings reissued a "buy (b-)" rating on shares of IDEXX Laboratories in a report on Wednesday, October 8th. Piper Sandler reissued a "neutral" rating and set a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Wall Street Zen downgraded shares of IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 28th. Finally, Leerink Partners increased their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $656.50.

Insider Buying and Selling

In other news, EVP Michael G. Erickson sold 406 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total transaction of $263,883.76. Following the transaction, the executive vice president directly owned 11,287 shares of the company's stock, valued at approximately $7,336,098.52. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Lane sold 8,411 shares of the firm's 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 trade represents a 54.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,057 shares of company stock worth $34,293,468 over the last three months. 0.98% of the stock is currently owned by company insiders.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $636.91 on Wednesday. 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, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. The firm has a market capitalization of $50.96 billion, a P/E ratio of 53.03, a price-to-earnings-growth ratio of 4.10 and a beta of 1.58. The company's 50-day moving average is $640.40 and its 200 day moving average is $545.72.

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 analysts' consensus estimates of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the company posted $2.44 EPS. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

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.

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