OMERS ADMINISTRATION Corp Has $3.14 Million Stake in IDEXX Laboratories, Inc. $IDXX

Key Points

• OMERS ADMINISTRATION Corp increased its stake in IDEXX Laboratories by 8.8%, holding 7,483 shares valued at approximately $3.14 million as of the latest reporting period.
• Insider activity shows that IDEXX executives sold a total of 54,057 shares in the last quarter, valued at nearly $34.3 million, indicating a decline in their positions.
• Equities research analysts hold a consensus rating of "Moderate Buy" for IDEXX Laboratories, with price targets ranging from $600 to $785, showing optimism towards the stock's future performance.

OMERS ADMINISTRATION Corp grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,483 shares of the company's stock after purchasing an additional 603 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in IDEXX Laboratories were worth $3,142,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in IDEXX Laboratories by 59,810.7% during the 1st quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock valued at $3,856,950,000 after buying an additional 916,898 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in 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 valued at $835,244,000 after purchasing an additional 825,965 shares during the last quarter. Nuveen LLC bought a new stake in shares of IDEXX Laboratories in the first quarter worth about $179,784,000. Principal Financial Group Inc. grew its stake in shares of IDEXX Laboratories by 58.3% in the first 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, Alyeska Investment Group L.P. bought a new stake in shares of IDEXX Laboratories in the fourth quarter worth about $156,412,000. Institutional investors own 87.84% of the company's stock.

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 stock was 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nimrata Hunt sold 7,143 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total value of $4,503,161.49. Following the sale, the executive vice president directly owned 18,007 shares of the company's stock, valued at $11,352,153.01. This represents a 28.40% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,057 shares of company stock valued at $34,293,468. Corporate insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

IDXX has been the topic of a number of recent research reports. Leerink Partners upped 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. JPMorgan Chase & Co. increased their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Morgan Stanley upped their target price on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a report on Friday, August 15th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a research 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 given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $649.44.

IDEXX Laboratories Stock Down 1.0%

IDEXX Laboratories stock traded down $6.35 during mid-day trading on Wednesday, hitting $633.11. 208,701 shares of the company's stock were exchanged, compared to its average volume of 707,100. 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 stock has a 50 day moving average of $586.66 and a two-hundred day moving average of $503.13. The stock has a market cap of $50.65 billion, a P/E ratio of 52.71, a P/E/G ratio of 4.19 and a beta of 1.56.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

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.