Ieq Capital LLC Boosts Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Ieq Capital LLC increased its stake in IDEXX Laboratories by 63.8% in Q1, owning 12,532 shares worth approximately $5.26 million.
• Several institutional investors have boosted their holdings in IDEXX, with 87.84% of the company's stock now owned by institutional investors and hedge funds.
• IDEXX Laboratories reported an EPS of $3.63 for Q2, surpassing estimates of $3.28, as revenue rose 10.6% year-over-year to $1.11 billion.

Ieq Capital LLC increased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 63.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,532 shares of the company's stock after purchasing an additional 4,882 shares during the period. Ieq Capital LLC's holdings in IDEXX Laboratories were worth $5,263,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in IDXX. GAMMA Investing LLC boosted its stake in IDEXX Laboratories by 59,810.7% in the first quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock valued at $3,856,950,000 after acquiring an additional 916,898 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in IDEXX Laboratories by 71.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock valued at $835,244,000 after acquiring an additional 825,965 shares in the last quarter. Nuveen LLC bought a new stake in IDEXX Laboratories in the 1st quarter valued at $179,784,000. Principal Financial Group Inc. lifted its position in IDEXX Laboratories by 58.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after acquiring an additional 414,802 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in IDEXX Laboratories during the 4th quarter worth about $156,412,000. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Stock Up 1.0%

IDEXX Laboratories stock traded up $6.49 during midday trading on Thursday, hitting $640.44. 440,527 shares of the stock were exchanged, compared to its average volume of 431,028. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The stock has a market capitalization of $51.24 billion, a price-to-earnings ratio of 53.33, a price-to-earnings-growth ratio of 4.11 and a beta of 1.56. The business's 50-day moving average price is $590.99 and its 200-day moving average price is $505.39. 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 EPS for the quarter, topping 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 business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the firm posted $2.44 earnings per share. The company'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. On average, research analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IDXX. JPMorgan Chase & Co. upped their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price on the stock. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a research report on Monday, August 4th. Morgan Stanley increased their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. Finally, Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, IDEXX Laboratories has an average rating of "Moderate Buy" and an average price target of $649.44.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Michael Lane sold 8,411 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total value of $5,279,921.14. Following the completion of the transaction, the executive vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nimrata Hunt sold 1,200 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $656.53, for a total transaction of $787,836.00. Following the sale, the executive vice president owned 16,807 shares of the company's stock, valued at $11,034,299.71. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,057 shares of company stock worth $34,293,468 in the last ninety days. 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.