IDEXX Laboratories, Inc. $IDXX Holdings Decreased by Stephens Investment Management Group LLC

Key Points

• Stephens Investment Management Group LLC reduced its holdings in IDEXX Laboratories by 7.2% in Q2, owning 103,353 shares valued at approximately $55.4 million after selling 8,059 shares.
• Analysts have set new price targets for IDEXX, with JPMorgan Chase raising it from $550 to $675 and BTIG increasing theirs from $545 to $785, reflecting a generally bullish outlook on the stock.
• IDEXX Laboratories reported a strong quarterly performance with an EPS of $3.63, exceeding estimates and marking a 10.6% year-over-year revenue increase to $1.11 billion.

Stephens Investment Management Group LLC decreased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 7.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,353 shares of the company's stock after selling 8,059 shares during the quarter. Stephens Investment Management Group LLC owned 0.13% of IDEXX Laboratories worth $55,432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IDXX. Price T Rowe Associates Inc. MD lifted its position in shares of IDEXX Laboratories by 71.0% in 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 buying an additional 825,965 shares during the last quarter. Select Equity Group L.P. acquired a new stake in shares of IDEXX Laboratories in the first quarter worth about $194,834,000. Nuveen LLC acquired a new position in shares of IDEXX Laboratories during the 1st quarter worth about $179,784,000. Principal Financial Group Inc. lifted its position in shares of 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, Durable Capital Partners LP acquired a new position in shares of IDEXX Laboratories during the 1st quarter worth about $153,180,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus set a $640.00 price objective on IDEXX Laboratories in a research note on Monday, August 4th. JPMorgan Chase & Co. increased their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. BTIG Research increased their price objective on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Weiss Ratings reiterated a "buy (b-)" rating on shares of IDEXX Laboratories in a research report on Wednesday, October 8th. Finally, Piper Sandler reiterated 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. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $656.50.

IDEXX Laboratories Price Performance

IDXX stock opened at $637.13 on Wednesday. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $688.12. 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 firm's 50-day moving average price is $639.51 and its two-hundred day moving average price is $553.52. The stock has a market capitalization of $50.97 billion, a price-to-earnings ratio of 53.05, a PEG ratio of 4.17 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $3.28 by $0.35. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. IDEXX Laboratories's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 2,187 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were 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 represents a 89.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sharon E. Underberg sold 5,450 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the completion of the sale, the executive vice president directly owned 6,156 shares of the company's stock, valued at approximately $4,011,249.60. This trade represents a 46.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,057 shares of company stock valued at $34,293,468 over the last quarter. 0.98% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding IDXX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report).

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.