Inspire Investing LLC Boosts Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Inspire Investing LLC increased its stake in IDEXX Laboratories, Inc. by 34.4%, owning 13,577 shares, after purchasing an additional 3,472 shares in Q1.
• IDEXX Laboratories reported a quarterly earnings per share (EPS) of $3.63, exceeding forecasted estimates of $3.28, with revenue of $1.11 billion, up 10.6% from the previous year.
• Corporate insiders sold a total of 54,057 shares of IDEXX Laboratories stock worth approximately $34.3 million over the last three months.

Inspire Investing LLC grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 34.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,577 shares of the company's stock after buying an additional 3,472 shares during the quarter. IDEXX Laboratories makes up 0.7% of Inspire Investing LLC's portfolio, making the stock its 24th biggest holding. Inspire Investing LLC's holdings in IDEXX Laboratories were worth $5,702,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new stake in IDEXX Laboratories in the first quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. increased 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 worth $35,000 after buying an additional 30 shares in the last quarter. WPG Advisers LLC purchased a new stake in IDEXX Laboratories in the first quarter worth about $37,000. Bank of Jackson Hole Trust increased 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 worth $39,000 after buying an additional 69 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its position in IDEXX Laboratories by 108.0% in the first quarter. Cornerstone Planning Group LLC now owns 104 shares of the company's stock worth $44,000 after buying an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Trading Up 1.1%

Shares of IDXX stock opened at $645.16 on Friday. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $688.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. The stock's 50 day simple moving average is $601.69 and its two-hundred day simple moving average is $512.04. The company has a market cap of $51.62 billion, a PE ratio of 53.72, a price-to-earnings-growth ratio of 4.13 and a beta of 1.56.

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 (EPS) 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 business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business posted $2.44 earnings per share. The company's quarterly revenue 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. Research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Piper Sandler reaffirmed 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. Wall Street Zen raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Finally, Stifel Nicolaus set a $640.00 price objective on IDEXX Laboratories in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $649.44.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 7,143 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the sale, the executive vice president owned 18,007 shares of the company's stock, valued at approximately $11,352,153.01. This trade represents a 28.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sharon E. Underberg sold 5,450 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $651.60, for a total value of $3,551,220.00. Following the sale, the executive vice president directly owned 6,156 shares in the company, valued at $4,011,249.60. This trade represents a 46.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,057 shares of company stock worth $34,293,468 over the last three months. Corporate 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.

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