IDEXX Laboratories, Inc. $IDXX Shares Acquired by Versor Investments LP

Key Points

• Versor Investments LP significantly increased its stake in IDEXX Laboratories by 203.6% in Q1, now owning approximately 1,518 shares valued at $637,000.
• Several other institutional investors, including GAMMA Investing LLC, greatly expanded their holdings in IDEXX, indicating strong interest from the investment community with hedge funds owning 87.84% of the company's stock.
• IDEXX Laboratories reported earnings of $3.63 per share for the last quarter, surpassing expectations and reflecting a 10.6% year-over-year revenue growth.

Versor Investments LP increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 203.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,518 shares of the company's stock after buying an additional 1,018 shares during the quarter. Versor Investments LP's holdings in IDEXX Laboratories were worth $637,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Sage Mountain Advisors LLC increased its stake in IDEXX Laboratories by 3.8% in the first quarter. Sage Mountain Advisors LLC now owns 635 shares of the company's stock worth $267,000 after purchasing an additional 23 shares during the period. PDS Planning Inc increased its stake in IDEXX Laboratories by 3.9% in the first quarter. PDS Planning Inc now owns 641 shares of the company's stock worth $269,000 after purchasing an additional 24 shares during the period. King Luther Capital Management Corp increased its stake in IDEXX Laboratories by 0.5% in the first quarter. King Luther Capital Management Corp now owns 4,896 shares of the company's stock worth $2,056,000 after purchasing an additional 24 shares during the period. Bigelow Investment Advisors LLC increased its stake in IDEXX Laboratories by 1.9% in the first quarter. Bigelow Investment Advisors LLC now owns 1,420 shares of the company's stock worth $596,000 after purchasing an additional 27 shares during the period. Finally, Wedbush Securities Inc. increased its stake in IDEXX Laboratories by 1.3% in the first quarter. Wedbush Securities Inc. now owns 2,145 shares of the company's stock worth $901,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Down 0.7%

IDXX stock traded down $4.20 during trading on Monday, reaching $641.35. 395,639 shares of the company traded hands, compared to its average volume of 793,847. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12. The business has a 50 day simple moving average of $572.19 and a 200 day simple moving average of $495.65. The company has a market capitalization of $51.31 billion, a price-to-earnings ratio of 53.40, a price-to-earnings-growth ratio of 4.18 and a beta of 1.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. BTIG Research increased their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Morgan Stanley increased their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. Leerink Partners increased their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Piper Sandler restated a "neutral" rating and set a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Finally, Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $649.44.

Insider Activity at IDEXX Laboratories

In related news, EVP Michael G. Erickson sold 406 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $649.96, for a total transaction of $263,883.76. Following the sale, the executive vice president owned 11,287 shares of the company's stock, valued at $7,336,098.52. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Sharon E. Underberg sold 5,450 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $651.60, for a total value 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 represents a 46.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,870 shares of company stock valued at $32,877,757 over the last 90 days. Company insiders own 0.98% of the company's stock.

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.