Fred Alger Management LLC Has $7.87 Million Stake in IDEXX Laboratories, Inc. $IDXX

Key Points

• Fred Alger Management LLC increased its stake in IDEXX Laboratories by 37.8% during the first quarter, owning a total of 18,730 shares valued at approximately $7.87 million.
• Institutional investors now own 87.84% of IDEXX Laboratories, indicating strong institutional confidence in the stock.
• IDEXX Laboratories recently reported a 10.6% year-over-year revenue increase and earnings per share beating expectations at $3.63, influencing a positive outlook from several analysts.

Fred Alger Management LLC grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 37.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,730 shares of the company's stock after acquiring an additional 5,137 shares during the quarter. Fred Alger Management LLC's holdings in IDEXX Laboratories were worth $7,866,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of IDEXX Laboratories by 14.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 489,210 shares of the company's stock valued at $205,444,000 after buying an additional 62,590 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in IDEXX Laboratories during the 1st quarter worth $1,699,000. USS Investment Management Ltd grew its holdings in shares of IDEXX Laboratories by 4.2% in the first quarter. USS Investment Management Ltd now owns 16,896 shares of the company's stock valued at $7,093,000 after purchasing an additional 682 shares during the period. UniSuper Management Pty Ltd raised its stake in IDEXX Laboratories by 3.3% during the first quarter. UniSuper Management Pty Ltd now owns 7,750 shares of the company's stock worth $3,255,000 after purchasing an additional 251 shares during the period. Finally, Scientech Research LLC lifted its position in IDEXX Laboratories by 10.4% in the first quarter. Scientech Research LLC now owns 3,076 shares of the company's stock valued at $1,292,000 after buying an additional 291 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Down 0.6%

Shares of IDEXX Laboratories stock traded down $4.02 on Friday, hitting $641.14. 317,919 shares of the company's stock traded hands, compared to its average volume of 372,779. The firm's 50-day moving average is $603.59 and its 200 day moving average is $513.68. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The stock has a market cap of $51.29 billion, a P/E ratio of 53.38, a PEG ratio of 4.18 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 data on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period last year, the business posted $2.44 earnings per share. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on IDXX shares. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Leerink Partners boosted their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Morgan Stanley boosted their price objective on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. JPMorgan Chase & Co. upped their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $649.44.

Insider Activity

In other IDEXX Laboratories news, Director M Anne Szostak sold 2,187 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the completion of the sale, the director directly owned 262 shares in the company, valued at approximately $169,600.46. This trade represents a 89.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total value of $5,279,921.14. Following the completion of the transaction, the executive vice president directly owned 7,132 shares in the company, valued at approximately $4,477,041.68. This represents a 54.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 54,057 shares of company stock worth $34,293,468. Corporate insiders own 0.98% of the company's stock.

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.