Azimuth Capital Investment Management LLC Buys 11,777 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Azimuth Capital Investment Management LLC has significantly increased its stake in IDEXX Laboratories, raising its holdings by 95.0% during the first quarter, now owning 24,173 shares valued at approximately $10.15 million.
• IDEXX Laboratories reported strong earnings with $3.63 earnings per share for the most recent quarter, surpassing estimates, and revenue of $1.11 billion, marking a 10.6% increase year-over-year.
• Analysts have a consensus "Moderate Buy" rating for IDEXX Laboratories, with price targets ranging from $625.00 to $722.00, reflecting optimistic growth potential for the stock.

Azimuth Capital Investment Management LLC boosted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 95.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,173 shares of the company's stock after acquiring an additional 11,777 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in IDEXX Laboratories were worth $10,151,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MorganRosel Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the 1st quarter worth $26,000. Colonial Trust Co SC boosted its stake in IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after buying an additional 39 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in 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 acquiring an additional 30 shares during the last quarter. Bank of Jackson Hole Trust grew its position in IDEXX Laboratories by 328.6% in the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock valued at $39,000 after acquiring an additional 69 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its stake in IDEXX Laboratories by 540.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after acquiring an additional 81 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IDXX shares. Morgan Stanley raised their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research note on Friday, August 15th. Piper Sandler reissued a "neutral" rating and issued a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a research note on Monday, August 4th. Leerink Partners upped their price target 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. Finally, BTIG Research increased their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. One equities 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $649.44.

Insiders Place Their Bets

In other news, EVP Michael Lane sold 8,411 shares of the business's stock in a transaction dated 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 transaction, the executive vice president directly owned 7,132 shares of the company's stock, valued at $4,477,041.68. The trade was a 54.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael G. Erickson sold 406 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total value of $263,883.76. Following the sale, the executive vice president owned 11,287 shares in the company, valued at approximately $7,336,098.52. The trade was a 3.47% 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 quarter. Company insiders own 0.98% of the company's stock.

IDEXX Laboratories Trading Up 0.5%

Shares of IDXX traded up $3.14 during mid-day trading on Wednesday, reaching $639.85. 525,226 shares of the company were exchanged, compared to its average volume of 845,060. The business has a 50 day simple moving average of $565.36 and a two-hundred day simple moving average of $491.59. 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 stock has a market capitalization of $51.19 billion, a PE ratio of 53.28, a PEG ratio of 4.12 and a beta of 1.49. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, beating the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The business had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the prior year, the business 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. On average, analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

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.