Engineers Gate Manager LP Raises Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Engineers Gate Manager LP increased its IDEXX Laboratories position by 162.6% in the second quarter, holding 5,186 shares valued at approximately $2.73 million. Institutional investors collectively own 87.84% of the company.
• Analysts maintain a “Moderate Buy” consensus, with six Buy and four Hold ratings and an average price target of $747. Barclays cut its target to $710, while UBS and Citigroup raised theirs to $670.
• IDEXX reported quarterly EPS of $4.27, beating estimates of $3.94, while revenue rose 9.7% year over year to $1.22 billion. Shares opened at $509.56, near the company’s 52-week low of $500.61.

Engineers Gate Manager LP boosted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 162.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,186 shares of the company's stock after buying an additional 3,211 shares during the period. Engineers Gate Manager LP's holdings in IDEXX Laboratories were worth $2,730,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc increased its position in shares of IDEXX Laboratories by 9.8% in the second quarter. IFP Advisors Inc now owns 585 shares of the company's stock worth $308,000 after purchasing an additional 52 shares during the last quarter. Sterling Investment Advisors Ltd. lifted its position in IDEXX Laboratories by 9.1% during the second quarter. Sterling Investment Advisors Ltd. now owns 1,200 shares of the company's stock valued at $632,000 after purchasing an additional 100 shares during the last quarter. Arizona State Retirement System grew its stake in IDEXX Laboratories by 4.9% in the 2nd quarter. Arizona State Retirement System now owns 22,772 shares of the company's stock worth $11,988,000 after buying an additional 1,074 shares in the last quarter. Empirical Finance LLC grew its stake in IDEXX Laboratories by 3.2% in the 2nd quarter. Empirical Finance LLC now owns 2,943 shares of the company's stock worth $1,549,000 after buying an additional 90 shares in the last quarter. Finally, Nykredit A S bought a new position in shares of IDEXX Laboratories in the 2nd quarter worth $19,448,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on IDXX shares. Barclays lowered their price objective on shares of IDEXX Laboratories from $800.00 to $710.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 11th. UBS Group upped their target price on shares of IDEXX Laboratories from $620.00 to $670.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Citigroup increased their target price on IDEXX Laboratories from $650.00 to $670.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Weiss Ratings downgraded IDEXX Laboratories from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, August 27th. Finally, Wall Street Zen lowered IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $747.00.

IDEXX Laboratories Trading Up 1.0%

Shares of IDXX opened at $509.56 on Tuesday. The firm has a market cap of $40.14 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 2.69 and a beta of 1.54. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.87 and a current ratio of 1.17. IDEXX Laboratories, Inc. has a fifty-two week low of $500.61 and a fifty-two week high of $769.98. The firm has a 50 day moving average price of $554.49 and a 200-day moving average price of $565.06.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $4.27 EPS for the quarter, beating the consensus estimate of $3.94 by $0.33. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. IDEXX Laboratories had a net margin of 25.03% and a return on equity of 71.96%. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.50 EPS. IDEXX Laboratories has set its FY 2026 guidance at 14.690-14.940 EPS. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 14.81 earnings per share for the current year.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director Lawrence D. Kingsley sold 2,203 shares of the company's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $532.08, for a total transaction of $1,172,172.24. Following the completion of the sale, the director directly owned 9,568 shares in the company, valued at $5,090,941.44. This represents a 18.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.79% of the stock is currently owned by insiders.

About IDEXX Laboratories

IDEXX Laboratories, Inc develops and provides diagnostic, information technology and veterinary practice-management products and services. The company primarily serves the companion animal, livestock and poultry, and water testing markets, helping customers detect, monitor and manage disease.

Its companion animal business includes in-house laboratory analyzers and consumables, reference laboratory services, diagnostic tests, veterinary software, digital imaging and related practice-management solutions.

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