BI Asset Management Fondsmaeglerselskab A S Sells 9,379 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• BI Asset Management Fondsmaeglerselskab A S significantly reduced its holdings in IDEXX Laboratories, selling 9,379 shares and decreasing its stake by 56.8%, leaving it with 7,129 shares valued at approximately $2,994,000.
• Institutional investors have shown increased interest, with GAMMA Investing LLC raising its stake by an astonishing 59,810.7% to 918,431 shares worth nearly $3.86 billion, reflecting strong demand in the market.
• Analysts have a consensus rating of "Moderate Buy" for IDEXX Laboratories, with target prices from brokerages ranging from $625 to $785, indicating overall optimism for the company's future performance.

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 56.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,129 shares of the company's stock after selling 9,379 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in IDEXX Laboratories were worth $2,994,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of IDEXX Laboratories by 59,810.7% in 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 during the period. Nuveen LLC bought a new stake in IDEXX Laboratories in the first quarter valued at about $179,784,000. Principal Financial Group Inc. lifted its stake in 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 buying an additional 414,802 shares during the period. Alyeska Investment Group L.P. bought a new position in IDEXX Laboratories during the fourth quarter worth about $156,412,000. Finally, BNP Paribas Financial Markets grew its position 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 worth $182,459,000 after buying an additional 303,966 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IDXX. Jefferies Financial Group initiated coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target on the stock. BTIG Research increased their target price on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Leerink Partners lifted their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Piper Sandler restated a "neutral" rating and issued a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Finally, Morgan Stanley raised their price objective on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $649.44.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total value of $5,279,921.14. Following the sale, the executive vice president owned 7,132 shares of the company's stock, valued at approximately $4,477,041.68. This trade represents a 54.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $631.98, for a total value of $18,491,734.80. Following the completion of the sale, the chief executive officer owned 83,311 shares in the company, valued at $52,650,885.78. The trade was a 25.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,870 shares of company stock valued at $32,877,757 in the last 90 days. 0.98% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Trading Up 0.5%

Shares of NASDAQ:IDXX opened at $639.85 on Thursday. The firm has a market cap of $51.19 billion, a price-to-earnings ratio of 53.28, a PEG ratio of 4.12 and a beta of 1.49. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12. The company's fifty day simple moving average is $565.36 and its 200 day simple moving average is $491.59. 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 earnings results 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. The firm had revenue of $1.11 billion during 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%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

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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