Dimensional Fund Advisors LP Sells 21,193 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Dimensional Fund Advisors LP has reduced its stake in IDEXX Laboratories by 3.6%, holding 565,508 shares after selling 21,193 shares in the first quarter.
• Other hedge funds have significantly increased their positions in IDEXX, with GAMMA Investing LLC boosting its stake by 59,810.7% to own 918,431 shares valued at approximately $3.86 billion.
• Analysts have raised their price targets for IDEXX Laboratories, with Morgan Stanley increasing theirs from $722.00 to $765.00, while BTIG Research set a target of $785.00, reflecting positive sentiment towards the stock.

Dimensional Fund Advisors LP lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 3.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 565,508 shares of the company's stock after selling 21,193 shares during the period. Dimensional Fund Advisors LP owned 0.70% of IDEXX Laboratories worth $237,458,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of IDEXX Laboratories by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company's stock valued at $4,139,001,000 after purchasing an additional 146,427 shares in the last quarter. Bamco Inc. NY raised its position in IDEXX Laboratories by 4.3% during the 4th quarter. Bamco Inc. NY now owns 2,005,522 shares of the company's stock worth $829,163,000 after purchasing an additional 82,264 shares during the last quarter. Invesco Ltd. raised its position in IDEXX Laboratories by 0.5% during the 1st quarter. Invesco Ltd. now owns 1,166,406 shares of the company's stock worth $489,832,000 after purchasing an additional 5,418 shares during the last quarter. Principal Financial Group Inc. raised its position in IDEXX Laboratories by 58.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock worth $472,865,000 after purchasing an additional 414,802 shares during the last quarter. Finally, GAMMA Investing LLC raised its position 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 worth $3,856,950,000 after acquiring an additional 916,898 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on IDXX. Piper Sandler reissued a "neutral" rating and issued a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a research note on Monday, August 4th. BTIG Research upped their price objective on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Leerink Partners upped their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Finally, Jefferies Financial Group started coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price on the stock. One equities 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $649.44.

IDEXX Laboratories Stock Up 2.0%

IDXX traded up $12.50 on Friday, hitting $645.55. The company had a trading volume of 352,260 shares, compared to its average volume of 829,808. The stock has a fifty day simple moving average of $569.94 and a 200-day simple moving average of $493.97. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The firm has a market capitalization of $51.64 billion, a P/E ratio of 53.75, a P/E/G ratio of 4.10 and a beta of 1.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $3.63 earnings per share (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 firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the business earned $2.44 earnings per share. The business'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. As a group, equities analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 transaction, the chief executive officer directly owned 83,311 shares in the company, valued at $52,650,885.78. The trade was a 25.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael G. Erickson sold 406 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total transaction of $263,883.76. Following the sale, the executive vice president 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 disclosure for this sale can be found here. Insiders sold 51,870 shares of company stock worth $32,877,757 over the last 90 days. 0.98% of the stock is currently owned by company insiders.

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.