CW Advisors LLC Grows Stake in IDEXX Laboratories, Inc. $IDXX

Key Points

• CW Advisors LLC increased its stake in IDEXX Laboratories by 303.5% during Q1, acquiring 4,330 shares valued at approximately $1.82 million.
• Major institutional investors have been active as well, with TD Waterhouse Canada increasing their holdings by 34.8% in the fourth quarter, demonstrating a significant interest in IDEXX Laboratories.
• Wall Street analysts are optimistic about IDEXX, with several firms including Jefferies and Piper Sandler setting buy ratings and raising their price targets significantly, indicating potential for growth in the stock's value.

CW Advisors LLC grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 303.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,330 shares of the company's stock after purchasing an additional 3,257 shares during the quarter. CW Advisors LLC's holdings in IDEXX Laboratories were worth $1,824,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IDXX. TD Waterhouse Canada Inc. grew its holdings in IDEXX Laboratories by 34.8% in the fourth quarter. TD Waterhouse Canada Inc. now owns 511 shares of the company's stock worth $211,000 after purchasing an additional 132 shares during the last quarter. Nebula Research & Development LLC purchased a new position in IDEXX Laboratories in the fourth quarter worth $782,000. Tri Locum Partners LP purchased a new position in IDEXX Laboratories in the fourth quarter worth $18,593,000. Quarry LP purchased a new position in IDEXX Laboratories in the fourth quarter worth $49,000. Finally, Northern Trust Corp grew its holdings in IDEXX Laboratories by 18.6% in the fourth quarter. Northern Trust Corp now owns 912,874 shares of the company's stock worth $377,419,000 after purchasing an additional 143,369 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IDXX has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective on the stock. Piper Sandler reissued a "neutral" rating and set a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Morgan Stanley boosted their price objective on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a report on Friday, August 15th. Leerink Partners boosted their price objective on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Finally, BTIG Research boosted their price objective on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. One investment 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 company's stock. According to data from MarketBeat.com, IDEXX Laboratories presently has an average rating of "Moderate Buy" and an average target price of $649.44.

Insider Buying and Selling

In other IDEXX Laboratories news, EVP Michael G. Erickson sold 406 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 11,287 shares of the company's stock, valued at approximately $7,336,098.52. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $631.98, for a total transaction of $18,491,734.80. Following the completion of the sale, the chief executive officer directly owned 83,311 shares in the company, valued at approximately $52,650,885.78. The trade was a 25.99% decrease in their ownership of the stock. 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 insiders.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $645.55 on Monday. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $688.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The firm has a market cap of $51.64 billion, a price-to-earnings ratio of 53.75, a PEG ratio of 4.18 and a beta of 1.49. The firm's fifty day moving average is $569.94 and its two-hundred day moving average is $494.38.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $3.63 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 company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The firm's revenue was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Research analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

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.

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