KLP Kapitalforvaltning AS Increases Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• KLP Kapitalforvaltning AS increased its holdings in IDEXX Laboratories by 3.1% during the second quarter, now owning 39,600 shares valued at approximately $21.24 million.
• Equities analysts have set a consensus target price of $656.50 for IDEXX Laboratories, with various ratings including "neutral" and "buy" from multiple firms.
• IDEXX Laboratories reported a quarterly earnings of $3.63 EPS, surpassing the consensus estimate of $3.28, and experienced a revenue increase of 10.6% compared to the previous year.

KLP Kapitalforvaltning AS increased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,600 shares of the company's stock after purchasing an additional 1,200 shares during the period. KLP Kapitalforvaltning AS's holdings in IDEXX Laboratories were worth $21,239,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in shares of IDEXX Laboratories in the second quarter valued at $29,000. MorganRosel Wealth Management LLC purchased a new stake in IDEXX Laboratories during the first quarter valued at about $26,000. Ameritas Advisory Services LLC purchased a new stake in IDEXX Laboratories during the second quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. grew its position in IDEXX Laboratories by 55.6% during 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 period. Finally, WPG Advisers LLC purchased a new stake in IDEXX Laboratories during the first quarter valued at about $37,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $627.28 on Wednesday. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. The business has a 50-day moving average of $636.83 and a 200-day moving average of $538.44. 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 company has a market capitalization of $50.18 billion, a price-to-earnings ratio of 52.23, a PEG ratio of 4.07 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings results 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 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 quarter in the previous year, the firm posted $2.44 earnings per share. The company's 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. On average, equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related 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 owned 7,132 shares in the company, valued at approximately $4,477,041.68. The trade was a 54.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sharon E. Underberg sold 5,450 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $651.60, for a total value of $3,551,220.00. Following the completion of the transaction, the executive vice president owned 6,156 shares in the company, valued at approximately $4,011,249.60. This trade represents a 46.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,057 shares of company stock valued at $34,293,468. Insiders own 0.98% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Piper Sandler reissued a "neutral" rating and set a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. JPMorgan Chase & Co. boosted their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. BTIG Research boosted their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Jefferies Financial Group began coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target for the company. Finally, UBS Group began coverage on IDEXX Laboratories in a research report on Wednesday, October 1st. They issued a "neutral" rating and a $720.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and a consensus target price of $656.50.

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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