AMF Tjanstepension AB Makes New Investment in IDEXX Laboratories, Inc. $IDXX

Key Points

• AMF Tjanstepension AB made a new investment in IDEXX Laboratories, Inc., acquiring 24,325 shares valued at approximately $13 million during the second quarter.
• Wall Street analysts have varying ratings for IDEXX, with JPMorgan boosting its price target from $550 to $675 and several others giving "buy" ratings with a consensus price target of $656.50.
• IDEXX Laboratories reported earnings of $3.63 per share for the last quarter, surpassing estimates, with a revenue increase of 10.6% year-over-year.

AMF Tjanstepension AB 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 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,325 shares of the company's stock, valued at approximately $13,046,000.

Several other institutional investors have also recently made changes to their positions in the stock. Franklin Street Advisors Inc. NC lifted its position in shares of IDEXX Laboratories by 10.1% during the second quarter. Franklin Street Advisors Inc. NC now owns 35,131 shares of the company's stock worth $18,842,000 after acquiring an additional 3,222 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in IDEXX Laboratories during the second quarter valued at approximately $36,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in IDEXX Laboratories during the second quarter valued at approximately $204,000. Triad Wealth Partners LLC grew its stake in IDEXX Laboratories by 20.2% during the second quarter. Triad Wealth Partners LLC now owns 869 shares of the company's stock valued at $466,000 after acquiring an additional 146 shares in the last quarter. Finally, J. Safra Sarasin Holding AG grew its stake in IDEXX Laboratories by 74.2% during the second quarter. J. Safra Sarasin Holding AG now owns 3,610 shares of the company's stock valued at $1,936,000 after acquiring an additional 1,538 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Wall Street Zen cut shares of IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 28th. UBS Group assumed coverage on shares of IDEXX Laboratories in a research note on Wednesday. They set a "neutral" rating and a $720.00 price objective for the company. Piper Sandler reaffirmed a "neutral" rating and set a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of IDEXX Laboratories in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $656.50.

IDEXX Laboratories Trading Down 0.4%

Shares of IDEXX Laboratories stock opened at $631.19 on Friday. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $688.12. The firm has a market cap of $50.50 billion, a PE ratio of 52.56, a PEG ratio of 4.10 and a beta of 1.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. The company has a 50 day simple moving average of $634.52 and a two-hundred day simple moving average of $534.79.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the business posted $2.44 earnings per share. IDEXX Laboratories'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. Analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other news, EVP Michael G. Erickson sold 406 shares of the business'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 value of $263,883.76. Following the completion of the sale, the executive vice president directly owned 11,287 shares in the company, valued at approximately $7,336,098.52. The trade was a 3.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sharon E. Underberg sold 5,450 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 6,156 shares of the company's stock, valued at approximately $4,011,249.60. The trade was a 46.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,057 shares of company stock worth $34,293,468. Corporate insiders own 0.98% of the company's stock.

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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