Focus Partners Advisor Solutions LLC Purchases New Shares in IDEXX Laboratories, Inc. $IDXX

Key Points

• Focus Partners Advisor Solutions LLC has acquired a new position in IDEXX Laboratories, purchasing 781 shares valued at approximately $328,000 in Q1, signaling growing institutional interest in the company.
• Insider trading activity has seen significant sales, with EVP Nimrata Hunt selling 7,143 shares worth about $4.5 million, which is a 28.40% reduction in their stake.
• Analysts are optimistic about IDEXX Laboratories, with multiple firms raising their price targets; notably, JPMorgan Chase raised its target from $550 to $675, indicating strong future growth potential.

Focus Partners Advisor Solutions LLC bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 781 shares of the company's stock, valued at approximately $328,000.

Several other institutional investors have also modified their holdings of IDXX. GAMMA Investing LLC grew its position in shares of IDEXX Laboratories by 59,810.7% during the first 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 during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of IDEXX Laboratories by 71.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock worth $835,244,000 after acquiring an additional 825,965 shares during the last quarter. Nuveen LLC bought a new position in shares of IDEXX Laboratories during the first quarter worth about $179,784,000. Principal Financial Group Inc. grew its position in shares of IDEXX Laboratories by 58.3% during the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock worth $472,865,000 after acquiring an additional 414,802 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. bought a new position in IDEXX Laboratories in the 1st quarter valued at about $120,008,000. Institutional investors own 87.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. BTIG Research increased their target price on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price for the company. Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a research report on Monday, August 4th. Finally, Leerink Partners raised their price objective on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $649.44.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP Michael G. Erickson sold 406 shares of IDEXX Laboratories stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $649.96, for a total value of $263,883.76. Following the completion of the transaction, the executive vice president directly owned 11,287 shares of the company's stock, valued at $7,336,098.52. The trade was a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $651.60, for a total value of $3,551,220.00. Following the completion of the transaction, the executive vice president directly owned 6,156 shares of the company's stock, valued at $4,011,249.60. This represents a 46.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,057 shares of company stock worth $34,293,468 over the last ninety days. Company insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Up 0.9%

Shares of IDXX traded up $5.85 during mid-day trading on Thursday, hitting $643.80. 149,944 shares of the company's stock were exchanged, compared to its average volume of 695,589. The firm has a fifty day moving average of $599.72 and a two-hundred day moving average of $510.79. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12. The stock has a market cap of $51.50 billion, a price-to-earnings ratio of 53.59, a P/E/G ratio of 4.25 and a beta of 1.56. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced 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. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current 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.