Curi RMB Capital LLC Acquires 2,453 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Curi RMB Capital LLC significantly increased its stake in IDEXX Laboratories by 34.7% during the first quarter, bringing its total holdings to 9,523 shares valued at approximately $3.99 million.
• Several institutional investors also raised their positions in IDEXX, with AQR Capital Management boosting its holdings by 43.3%, now owning 175,785 shares worth $72.8 million.
• IDEXX Laboratories reported a 10.6% increase in quarterly revenue year-over-year, achieving $1.11 billion and exceeding analysts' expectations.

Curi RMB Capital LLC raised its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 34.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,523 shares of the company's stock after purchasing an additional 2,453 shares during the quarter. Curi RMB Capital LLC's holdings in IDEXX Laboratories were worth $3,999,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Sage Mountain Advisors LLC boosted its stake in shares of IDEXX Laboratories by 3.8% during the first quarter. Sage Mountain Advisors LLC now owns 635 shares of the company's stock valued at $267,000 after purchasing an additional 23 shares during the period. PDS Planning Inc increased its position in shares of IDEXX Laboratories by 3.9% during the 1st quarter. PDS Planning Inc now owns 641 shares of the company's stock worth $269,000 after purchasing an additional 24 shares during the last quarter. King Luther Capital Management Corp lifted its position in IDEXX Laboratories by 0.5% in the first quarter. King Luther Capital Management Corp now owns 4,896 shares of the company's stock valued at $2,056,000 after buying an additional 24 shares during the last quarter. Bigelow Investment Advisors LLC increased its stake in IDEXX Laboratories by 1.9% during the 1st quarter. Bigelow Investment Advisors LLC now owns 1,420 shares of the company's stock worth $596,000 after buying an additional 27 shares during the period. Finally, Wedbush Securities Inc. lifted its stake in IDEXX Laboratories by 1.3% during the first quarter. Wedbush Securities Inc. now owns 2,145 shares of the company's stock worth $901,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

Insider Activity

In related news, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories stock in a transaction 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 directly owned 6,156 shares in the company, valued at $4,011,249.60. The trade was a 46.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nimrata Hunt sold 1,200 shares of IDEXX Laboratories stock in a transaction on Monday, August 11th. The shares were sold at an average price of $656.53, for a total value of $787,836.00. Following the transaction, the executive vice president owned 16,807 shares in the company, valued at $11,034,299.71. This represents a 6.66% 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 ninety days. 0.98% of the stock is currently owned by company insiders.

IDEXX Laboratories Stock Down 2.3%

IDXX stock traded down $15.11 during midday trading on Wednesday, hitting $640.50. 95,115 shares of the company's stock were exchanged, compared to its average volume of 697,023. The stock has a market capitalization of $51.24 billion, a price-to-earnings ratio of 53.33, a price-to-earnings-growth ratio of 4.23 and a beta of 1.56. 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 12-month low of $356.14 and a 12-month high of $688.12. The firm has a 50 day moving average price of $597.81 and a 200-day moving average price of $509.91.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $3.28 by $0.35. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The business's revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IDXX. JPMorgan Chase & Co. boosted their price objective on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target 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 report on Monday, August 11th. Morgan Stanley upped their price objective on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a report on Friday, August 15th. Finally, Leerink Partners upped their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned 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 $649.44.

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.