Candriam S.C.A. Purchases 53,647 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Candriam S.C.A. increased its stake in IDEXX Laboratories by 187.9% in Q1, acquiring 53,647 additional shares, bringing its total ownership to approximately $34.5 million.
• Several hedge funds, including MorganRosel Wealth Management and Bank of Jackson Hole Trust, also increased their positions in IDEXX, reflecting growing institutional interest.
• IDEXX Laboratories reported earnings of $3.63 per share for the last quarter, exceeding expectations, and guidance for FY 2025 is set at $12.400 to $12.760 EPS.

Candriam S.C.A. raised its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 187.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,191 shares of the company's stock after acquiring an additional 53,647 shares during the period. Candriam S.C.A. owned approximately 0.10% of IDEXX Laboratories worth $34,516,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new stake in shares of IDEXX Laboratories in the first quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of IDEXX Laboratories by 55.6% in the first 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 period. Colonial Trust Co SC lifted its stake in shares of IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after buying an additional 39 shares during the period. Bank of Jackson Hole Trust lifted its stake in shares of IDEXX Laboratories by 328.6% in the first 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 period. Finally, Itau Unibanco Holding S.A. lifted its stake in shares of IDEXX Laboratories by 540.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock valued at $40,000 after buying an additional 81 shares during the period. Institutional investors own 87.84% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on IDXX shares. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price for the company. Piper Sandler reissued a "neutral" rating and issued a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. BTIG Research increased their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Morgan Stanley increased their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $649.44.

Insider Activity

In other IDEXX Laboratories news, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories stock in a transaction on Friday, August 8th. The shares were 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of IDEXX Laboratories stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total transaction of $18,491,734.80. Following the sale, the chief executive officer directly owned 83,311 shares of the company's stock, valued at $52,650,885.78. This represents a 25.99% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,870 shares of company stock worth $32,877,757. Corporate insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $636.71 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. The firm has a market cap of $50.94 billion, a P/E ratio of 53.01, a P/E/G ratio of 4.13 and a beta of 1.49. The firm has a 50 day simple moving average of $563.04 and a 200 day simple moving average of $490.56. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The business 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%. IDEXX Laboratories's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal 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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