USS Investment Management Ltd Grows Stock Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• USS Investment Management Ltd increased its stake in IDEXX Laboratories by 4.2% during the first quarter, now holding shares worth approximately $7.09 million.
• CEO Jonathan Jay Mazelsky sold 29,260 shares of IDEXX Laboratories stock, resulting in a 25.99% decrease in his ownership.
• IDEXX Laboratories reported a quarterly earnings per share (EPS) of $3.63, exceeding analysts' expectations and a year-over-year revenue increase of 10.6%.

USS Investment Management Ltd grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 4.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,896 shares of the company's stock after purchasing an additional 682 shares during the period. USS Investment Management Ltd's holdings in IDEXX Laboratories were worth $7,093,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of IDXX. MorganRosel Wealth Management LLC acquired a new position in shares of IDEXX Laboratories in the first quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of IDEXX Laboratories by 55.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after purchasing an additional 30 shares during the period. WPG Advisers LLC acquired a new position in IDEXX Laboratories during the first quarter worth $37,000. Bank of Jackson Hole Trust grew its holdings in IDEXX Laboratories by 328.6% during the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after acquiring an additional 69 shares during the period. Finally, Retirement Wealth Solutions LLC grew its holdings in IDEXX Laboratories by 40.0% during the first quarter. Retirement Wealth Solutions LLC now owns 105 shares of the company's stock worth $44,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

NASDAQ:IDXX traded down $4.02 during mid-day trading on Friday, hitting $641.14. 317,919 shares of the company's stock traded hands, compared to its average volume of 372,779. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The firm's 50 day simple moving average is $603.59 and its 200 day simple moving average is $513.68. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $688.12. The company has a market cap of $51.29 billion, a PE ratio of 53.38, a price-to-earnings-growth ratio of 4.18 and a beta of 1.56.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $3.63 earnings per share 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 firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm posted $2.44 EPS. 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. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michael Lane sold 8,411 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 7,132 shares in the company, valued at $4,477,041.68. This represents a 54.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael G. Erickson sold 406 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total value of $263,883.76. Following the completion of the sale, the executive vice president owned 11,287 shares in the company, valued at $7,336,098.52. This represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,057 shares of company stock valued at $34,293,468. Insiders own 0.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IDXX. Leerink Partners upped their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Wall Street Zen raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. BTIG Research upped their price objective on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Jefferies Financial Group began coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a report on Friday, August 15th. One investment 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's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $649.44.

IDEXX Laboratories 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.