Liontrust Investment Partners LLP Grows Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Liontrust Investment Partners LLP increased its stake in IDEXX Laboratories by 3,055.0% during the 1st quarter, owning approximately $78.8 million worth of shares.
• Several other institutional investors also enhanced their positions, with 87.84% of IDEXX Laboratories' stock now held by institutional investors.
• IDEXX Laboratories reported $1.11 billion in quarterly revenue and an earnings per share (EPS) of $3.63, exceeding market expectations.

Liontrust Investment Partners LLP grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 3,055.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 187,629 shares of the company's stock after purchasing an additional 181,682 shares during the period. Liontrust Investment Partners LLP owned about 0.23% of IDEXX Laboratories worth $78,795,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Horizon Investments LLC lifted its stake in shares of IDEXX Laboratories by 3.8% in the 1st quarter. Horizon Investments LLC now owns 1,345 shares of the company's stock valued at $565,000 after purchasing an additional 49 shares during the period. Legal Advantage Investments Inc. grew its position in IDEXX Laboratories by 1.6% during the first quarter. Legal Advantage Investments Inc. now owns 6,395 shares of the company's stock valued at $2,686,000 after buying an additional 100 shares during the period. Azimuth Capital Investment Management LLC increased its holdings in IDEXX Laboratories by 95.0% in the first quarter. Azimuth Capital Investment Management LLC now owns 24,173 shares of the company's stock valued at $10,151,000 after buying an additional 11,777 shares in the last quarter. Kovitz Investment Group Partners LLC increased its holdings in IDEXX Laboratories by 906.7% in the first quarter. Kovitz Investment Group Partners LLC now owns 17,759 shares of the company's stock valued at $7,458,000 after buying an additional 15,995 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of IDEXX Laboratories in the first quarter worth about $1,316,000. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX traded up $3.14 during mid-day trading on Wednesday, reaching $639.85. The company's stock had a trading volume of 525,226 shares, compared to its average volume of 845,060. The stock has a 50-day moving average of $565.36 and a two-hundred day moving average of $491.59. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The stock has a market capitalization of $51.19 billion, a P/E ratio of 53.28, a P/E/G ratio of 4.12 and a beta of 1.49. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year 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 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 during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business earned $2.44 earnings per share. The business'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 research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael G. Erickson sold 406 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total value of $263,883.76. Following the sale, the executive vice president directly owned 11,287 shares in the company, valued at approximately $7,336,098.52. The trade was a 3.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nimrata Hunt sold 1,200 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $656.53, for a total transaction of $787,836.00. Following the transaction, the executive vice president directly owned 16,807 shares of the company's stock, valued at approximately $11,034,299.71. This trade represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,870 shares of company stock valued at $32,877,757. 0.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on IDXX. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a research report on Monday, August 4th. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target on the stock. Piper Sandler reissued a "neutral" rating and issued a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Morgan Stanley boosted their price objective on IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. Finally, BTIG Research increased their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.