IDEXX Laboratories, Inc. $IDXX Shares Purchased by Plato Investment Management Ltd

Key Points

• Plato Investment Management Ltd increased its stake in IDEXX Laboratories by 37.1%, owning 3,087 shares valued at approximately $1.31 million after acquiring additional shares in Q1.
• Analysts have raised their price targets for IDEXX Laboratories, with JPMorgan Chase setting a new target of $675 and BTIG Research at $785, indicating a positive outlook for the stock.
• IDEXX Laboratories reported earnings of $3.63 EPS for the last quarter, surpassing expectations, with a net margin of 24.41% and a quarterly revenue increase of 10.6% compared to the previous year.

Plato Investment Management Ltd boosted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 37.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,087 shares of the company's stock after acquiring an additional 835 shares during the period. Plato Investment Management Ltd's holdings in IDEXX Laboratories were worth $1,310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Sage Mountain Advisors LLC increased its stake in shares of IDEXX Laboratories by 3.8% during the 1st quarter. Sage Mountain Advisors LLC now owns 635 shares of the company's stock worth $267,000 after purchasing an additional 23 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in IDEXX Laboratories by 0.9% during the 1st quarter. Great Lakes Advisors LLC now owns 2,567 shares of the company's stock valued at $1,078,000 after buying an additional 23 shares during the last quarter. PDS Planning Inc increased its position in IDEXX Laboratories by 3.9% during the first quarter. PDS Planning Inc now owns 641 shares of the company's stock worth $269,000 after buying an additional 24 shares in the last quarter. King Luther Capital Management Corp raised its holdings in shares of 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 acquiring an additional 24 shares during the last quarter. Finally, Bigelow Investment Advisors LLC raised its holdings in shares of 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 acquiring an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective 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 lifted their price target 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. Leerink Partners boosted their price objective on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Morgan Stanley lifted their target price on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. One investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $649.44.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $637.95 on Thursday. The company has a market cap of $51.04 billion, a P/E ratio of 53.12, a P/E/G ratio of 4.25 and a beta of 1.56. The firm's 50 day moving average is $599.72 and its two-hundred day moving average is $510.79. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $688.12. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the company earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Activity at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 1,200 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $656.53, for a total transaction of $787,836.00. Following the completion of the sale, the executive vice president owned 16,807 shares in the company, valued at approximately $11,034,299.71. The trade was a 6.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael G. Erickson sold 406 shares of the stock in a transaction that occurred on 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 directly owned 11,287 shares of the company's stock, valued at approximately $7,336,098.52. This trade represents a 3.47% decrease in their position. 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 over the last three months. Insiders own 0.98% of the company's stock.

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.

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