Goldman Sachs Group Inc. Has $205.44 Million Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Goldman Sachs Group Inc. has increased its stake in IDEXX Laboratories, Inc. by 14.7%, now owning approximately 0.61% of the company, valued at $205.44 million.
• Several hedge funds, including GAMMA Investing LLC and Price T Rowe Associates, have significantly boosted their holdings in IDEXX, indicating strong investor interest as institutional ownership reaches 87.84%.
• IDEXX Laboratories reported a 10.6% year-over-year revenue increase, achieving $1.11 billion in revenue for the latest quarter, and has set FY 2025 EPS guidance between $12.400 and $12.760.

Goldman Sachs Group Inc. increased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 14.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 489,210 shares of the company's stock after purchasing an additional 62,590 shares during the period. Goldman Sachs Group Inc. owned approximately 0.61% of IDEXX Laboratories worth $205,444,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of IDEXX Laboratories by 59,810.7% during the 1st quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock worth $3,856,950,000 after buying an additional 916,898 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 in the last quarter. Select Equity Group L.P. acquired a new stake in IDEXX Laboratories in the first quarter worth $194,834,000. Nuveen LLC acquired a new stake in IDEXX Laboratories in the first quarter worth $179,784,000. Finally, Principal Financial Group Inc. increased its stake in IDEXX Laboratories by 58.3% in the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after purchasing an additional 414,802 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director M Anne Szostak sold 2,187 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $169,600.46. This trade represents a 89.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of IDEXX Laboratories stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total value of $18,491,734.80. Following the sale, the chief executive officer owned 83,311 shares in the company, valued at $52,650,885.78. This trade represents a 25.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,057 shares of company stock worth $34,293,468. Corporate insiders own 0.98% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on IDXX shares. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Stifel Nicolaus set a $640.00 price objective on IDEXX Laboratories in a research note on Monday, August 4th. Morgan Stanley upped their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. BTIG Research increased their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, IDEXX Laboratories currently has a consensus rating of "Moderate Buy" and a consensus price target of $649.44.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $637.95 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The stock has a market cap of $51.04 billion, a PE ratio of 53.12, a price-to-earnings-growth ratio of 4.25 and a beta of 1.56. The stock's fifty day simple moving average is $599.72 and its two-hundred day simple moving average is $510.79. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company 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. As a group, analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.