Landscape Capital Management L.L.C. Invests $283,000 in IDEXX Laboratories, Inc. $IDXX

Key Points

• Landscape Capital Management L.L.C. has acquired 675 shares of IDEXX Laboratories, Inc., valued at approximately $283,000, marking a new investment position.
• Institutional investors currently own 87.84% of IDEXX's shares, with multiple firms significantly increasing their stakes during the first quarter of 2023.
• IDEXX's stock has received several analyst ratings upgrades, with target prices raised significantly, indicating a general optimism for its future performance.

Landscape Capital Management L.L.C. purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 675 shares of the company's stock, valued at approximately $283,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new stake in shares of IDEXX Laboratories during the first quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of 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 in the last quarter. Colonial Trust Co SC raised its stake in shares of IDEXX Laboratories by 84.8% during the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after acquiring an additional 39 shares in the last quarter. Bank of Jackson Hole Trust raised its stake in shares of IDEXX Laboratories by 328.6% during 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 in the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in shares of IDEXX Laboratories by 108.0% during the first quarter. Cornerstone Planning Group LLC now owns 104 shares of the company's stock valued at $44,000 after acquiring an additional 54 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 7,143 shares of IDEXX Laboratories stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total value of $4,503,161.49. Following the transaction, the executive vice president directly owned 18,007 shares of the company's stock, valued at approximately $11,352,153.01. The trade was a 28.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director M Anne Szostak sold 2,187 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total value of $1,415,710.71. Following the completion of the transaction, the director owned 262 shares of the company's stock, valued at $169,600.46. This trade represents a 89.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is currently owned by company insiders.

IDEXX Laboratories Stock Up 0.4%

NASDAQ IDXX traded up $2.55 during midday trading on Friday, hitting $642.99. 370,390 shares of the company traded hands, compared to its average volume of 413,114. 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 cap of $51.44 billion, a PE ratio of 53.54, a price-to-earnings-growth ratio of 4.16 and a beta of 1.56. The company's 50-day simple moving average is $593.22 and its 200-day simple moving average is $507.11. 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 released its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share (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 period in the previous year, the company earned $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. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IDXX. Morgan Stanley lifted 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. JPMorgan Chase & Co. lifted their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a report on Monday, August 4th. Finally, BTIG Research lifted their price objective on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.