Lincoln Capital LLC Invests $1.28 Million in IDEXX Laboratories, Inc. $IDXX

Key Points

• Lincoln Capital LLC recently acquired 3,028 shares of IDEXX Laboratories, Inc., worth approximately $1,277,000, in the first quarter.
• IDEXX Laboratories reported earnings per share of $3.63, exceeding analysts' expectations of $3.28, alongside a year-over-year revenue increase of 10.6%.
• Several analysts have upgraded IDEXX's stock ratings, with price targets rising to as high as $785.00, reflecting strong investor confidence.

Lincoln Capital LLC bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,028 shares of the company's stock, valued at approximately $1,277,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of IDEXX Laboratories by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company's stock worth $4,139,001,000 after purchasing an additional 146,427 shares during the last quarter. Bamco Inc. NY grew its position in shares of IDEXX Laboratories by 4.3% during the 4th quarter. Bamco Inc. NY now owns 2,005,522 shares of the company's stock valued at $829,163,000 after buying an additional 82,264 shares during the last quarter. Invesco Ltd. grew its position in shares of IDEXX Laboratories by 0.5% during the 1st quarter. Invesco Ltd. now owns 1,166,406 shares of the company's stock valued at $489,832,000 after buying an additional 5,418 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of IDEXX Laboratories by 58.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after buying an additional 414,802 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of IDEXX Laboratories by 59,810.7% during the 1st quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock valued at $3,856,950,000 after buying an additional 916,898 shares during the last quarter. Institutional investors own 87.84% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IDXX. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective for the company. Leerink Partners boosted their price objective on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. BTIG Research boosted their price objective on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. One 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $649.44.

Insider Buying and Selling

In other news, EVP Sharon E. Underberg sold 5,450 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 6,156 shares of the company's stock, valued at approximately $4,011,249.60. This represents a 46.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Lane sold 8,411 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the completion of the sale, the executive vice president directly owned 7,132 shares of the company's stock, valued at approximately $4,477,041.68. This represents a 54.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,870 shares of company stock worth $32,877,757. Company insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX traded up $12.50 on Friday, hitting $645.55. The stock had a trading volume of 352,260 shares, compared to its average volume of 829,808. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $688.12. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The stock has a market cap of $51.64 billion, a price-to-earnings ratio of 53.75, a P/E/G ratio of 4.10 and a beta of 1.49. The company's 50-day moving average is $569.94 and its two-hundred day moving average is $493.97.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its 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 net margin of 24.41% and a return on equity of 64.42%. The firm had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the firm earned $2.44 EPS. IDEXX Laboratories's quarterly revenue 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, analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

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.