American Century Companies Inc. Acquires 58,178 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• American Century Companies Inc. increased its ownership in IDEXX Laboratories by 7.2%, now holding approximately 867,992 shares valued at $364.51 million.
• Analysts have raised their price targets for IDEXX Laboratories, with JPMorgan setting a target of $675.00 and BTIG Research at $785.00, reflecting a consensus rating of "Moderate Buy".
• Insider selling has been noted, with two executives selling shares valued at over $8 million in total, indicating a significant decrease in their holdings.

American Century Companies Inc. raised its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 7.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 867,992 shares of the company's stock after buying an additional 58,178 shares during the period. American Century Companies Inc. owned about 1.08% of IDEXX Laboratories worth $364,513,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of IDEXX Laboratories by 59,810.7% during the 1st quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock valued at $3,856,950,000 after purchasing an additional 916,898 shares in the last quarter. Nuveen LLC bought a new position in shares of IDEXX Laboratories during the 1st quarter valued at $179,784,000. Principal Financial Group Inc. raised 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 valued at $472,865,000 after purchasing an additional 414,802 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at $156,412,000. Finally, BNP Paribas Financial Markets raised 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 valued at $182,459,000 after purchasing an additional 303,966 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

Insider Activity

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total transaction of $645,548.40. Following the completion of the transaction, the director owned 1,801 shares in the company, valued at $922,724.34. This trade represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sharon E. Underberg sold 5,450 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was 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 approximately $4,011,249.60. This represents a 46.96% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,176 shares of company stock valued at $34,060,678. 0.98% of the stock is owned by company insiders.

IDEXX Laboratories Price Performance

NASDAQ:IDXX traded down $1.15 during mid-day trading on Tuesday, hitting $636.71. The company's stock had a trading volume of 397,404 shares, compared to its average volume of 728,200. The company has a market capitalization of $50.94 billion, a price-to-earnings ratio of 53.01, a P/E/G ratio of 4.21 and a beta of 1.49. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $688.12. The stock has a fifty day moving average of $560.83 and a 200-day moving average of $489.54.

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, topping analysts' consensus estimates of $3.28 by $0.35. The firm 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 company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, equities analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target for the company. BTIG Research upped their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Piper Sandler restated a "neutral" rating and set a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Finally, Leerink Partners upped 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 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.