Brasada Capital Management LP Has $13.79 Million Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Brasada Capital Management LP has increased its stake in IDEXX Laboratories by 11.2%, owning 32,837 shares valued at approximately $13.79 million.
• Wall Street analysts have shown confidence in IDEXX Laboratories, with several firms raising their price targets, including BTIG Research increasing theirs to $785.00.
• Recent insider transactions reveal significant sales, with CEO Jonathan Jay Mazelsky selling 29,260 shares for over $18.49 million, reducing his ownership by 25.99%.

Brasada Capital Management LP grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 11.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,837 shares of the company's stock after buying an additional 3,314 shares during the quarter. IDEXX Laboratories comprises 2.6% of Brasada Capital Management LP's holdings, making the stock its 6th biggest position. Brasada Capital Management LP's holdings in IDEXX Laboratories were worth $13,790,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IDXX. Quarry LP bought a new stake in shares of IDEXX Laboratories during the 4th quarter worth about $49,000. AQR Capital Management LLC raised its position in shares of IDEXX Laboratories by 133.5% during the 4th quarter. AQR Capital Management LLC now owns 122,679 shares of the company's stock worth $50,721,000 after buying an additional 70,150 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its position in shares of IDEXX Laboratories by 121.2% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 9,280 shares of the company's stock worth $3,837,000 after buying an additional 5,085 shares in the last quarter. Freestone Grove Partners LP bought a new stake in shares of IDEXX Laboratories in the 4th quarter worth approximately $22,575,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of IDEXX Laboratories by 88.9% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 162,310 shares of the company's stock worth $67,105,000 after purchasing an additional 76,383 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Down 1.2%

NASDAQ:IDXX traded down $7.64 on Tuesday, hitting $639.45. 439,879 shares of the company's stock traded hands, compared to its average volume of 524,664. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $688.12. The firm has a 50-day moving average price of $584.49 and a 200-day moving average price of $502.18. The company has a market cap of $51.16 billion, a PE ratio of 53.88, a price-to-earnings-growth ratio of 4.19 and a beta of 1.56.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $3.63 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. The firm's revenue 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 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. 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 report on Thursday, July 17th. JPMorgan Chase & Co. boosted their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Morgan Stanley boosted their target price on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a report on Friday, August 15th. BTIG Research boosted their target price on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Piper Sandler restated a "neutral" rating and set a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $649.44.

Insider Activity

In related news, CEO Jonathan Jay Mazelsky sold 29,260 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $631.98, for a total transaction of $18,491,734.80. Following the transaction, the chief executive officer directly owned 83,311 shares of the company's stock, valued at approximately $52,650,885.78. The trade was a 25.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Nimrata Hunt sold 7,143 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the transaction, the executive vice president directly owned 18,007 shares in the company, valued at $11,352,153.01. The trade was a 28.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,057 shares of company stock valued at $34,293,468 in the last three months. 0.98% of the stock is currently owned by 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.