AQR Capital Management LLC Buys 53,106 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• AQR Capital Management LLC increased its stake in IDEXX Laboratories, Inc. by 43.3% during Q1, owning a total of 175,785 shares valued at approximately $72.8 million.
• Several large investors, including Vanguard and Price T Rowe Associates, have also significantly increased their holdings in IDEXX, with institutional investors now owning 87.84% of the company's stock.
• IDEXX Laboratories reported earnings of $3.63 per share for the last quarter, exceeding analysts' estimates, while its revenue grew by 10.6% compared to the previous year.

AQR Capital Management LLC increased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 43.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 175,785 shares of the company's stock after acquiring an additional 53,106 shares during the period. AQR Capital Management LLC owned 0.22% of IDEXX Laboratories worth $72,795,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the 1st quarter valued at about $26,000. Colonial Trust Co SC increased its holdings in shares of IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after acquiring an additional 39 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew 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 valued at $35,000 after buying an additional 30 shares during the last quarter. WPG Advisers LLC acquired a new stake in IDEXX Laboratories in the 1st quarter valued at approximately $37,000. Finally, Bank of Jackson Hole Trust grew its holdings in IDEXX Laboratories by 328.6% in the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock valued at $39,000 after buying an additional 69 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX traded up $9.84 during trading on Monday, hitting $652.83. 460,575 shares of the stock were exchanged, compared to its average volume of 403,319. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. The company has a market capitalization of $52.23 billion, a price-to-earnings ratio of 54.36, a price-to-earnings-growth ratio of 4.16 and a beta of 1.56. The company's fifty day simple moving average is $595.55 and its 200-day simple moving average is $508.89. 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 (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm earned $2.44 EPS. IDEXX Laboratories's revenue for the quarter was up 10.6% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on IDXX shares. Jefferies Financial Group started 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. Morgan Stanley raised their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a report on Friday, August 15th. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a report on Monday, August 4th. 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, 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $649.44.

Insider Buying and Selling at IDEXX Laboratories

In related news, 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 completion of the transaction, the executive vice president owned 7,132 shares in the company, valued at $4,477,041.68. This trade represents a 54.11% 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 Sharon E. Underberg sold 5,450 shares of the firm'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 value 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 disclosure for this sale can be found here. Insiders have sold 54,057 shares of company stock worth $34,293,468 over the last three months. 0.98% of the stock is currently owned by insiders.

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.