J. Stern & Co. LLP Grows Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• J. Stern & Co. LLP increased its stake in IDEXX Laboratories by 16.9% during Q1, owning 4,655 shares valued at $1,955,000 at the end of the period.
• Other institutional investors also significantly increased their positions, with GAMMA Investing LLC raising its stake by an astonishing 59,810.7%.
• IDEXX Laboratories reported Q2 earnings with an EPS of $3.63, surpassing expectations and indicating a year-over-year revenue increase of 10.6%.

J. Stern & Co. LLP grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 16.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,655 shares of the company's stock after acquiring an additional 672 shares during the quarter. J. Stern & Co. LLP's holdings in IDEXX Laboratories were worth $1,955,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in IDXX. GAMMA Investing LLC raised its stake in shares of 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 period. Price T Rowe Associates Inc. MD raised its stake in shares of IDEXX Laboratories by 71.0% in the first 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 during the period. Nuveen LLC purchased a new stake in shares of IDEXX Laboratories in the first quarter valued at $179,784,000. Principal Financial Group Inc. raised its stake in shares of IDEXX Laboratories by 58.3% in the first 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 during the period. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of IDEXX Laboratories in the fourth quarter valued at $156,412,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Trading Down 0.7%

NASDAQ IDXX opened at $641.35 on Tuesday. The company's 50-day moving average price is $572.19 and its 200-day moving average price is $495.65. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The stock has a market cap of $51.31 billion, a PE ratio of 53.40, a PEG ratio of 4.18 and a beta of 1.49. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm 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 business'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. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Michael Lane sold 8,411 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the transaction, the executive vice president directly owned 7,132 shares in the company, valued at $4,477,041.68. This represents a 54.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sharon E. Underberg sold 5,450 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the transaction, the executive vice president owned 6,156 shares in the company, valued at approximately $4,011,249.60. The trade was a 46.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,870 shares of company stock worth $32,877,757 over the last quarter. Corporate insiders own 0.98% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IDXX shares. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Morgan Stanley increased their target price 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. Leerink Partners increased their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Piper Sandler restated a "neutral" rating and issued a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Finally, BTIG Research upped 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. 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $649.44.

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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