Live Oak Investment Partners Invests $732,000 in IDEXX Laboratories, Inc. $IDXX

Key Points

• Live Oak Investment Partners invested approximately $732,000 in IDEXX Laboratories, acquiring 1,364 shares in the second quarter of 2023.
• Several institutional investors have significantly increased their holdings in IDEXX Laboratories, resulting in 87.84% of the company's stock being owned by institutional investors and hedge funds.
• IDEXX Laboratories reported a 10.6% year-over-year revenue increase, with a net margin of 24.41% and an EPS of $3.63, beating analysts' expectations.

Live Oak Investment Partners purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,364 shares of the company's stock, valued at approximately $732,000.

Several other institutional investors also recently modified their holdings of IDXX. Price T Rowe Associates Inc. MD boosted its stake in IDEXX Laboratories by 71.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock worth $835,244,000 after acquiring an additional 825,965 shares during the last quarter. Select Equity Group L.P. bought a new position in IDEXX Laboratories during the 1st quarter worth approximately $194,834,000. Nuveen LLC bought a new position in IDEXX Laboratories during the 1st quarter worth approximately $179,784,000. Principal Financial Group Inc. boosted its stake in IDEXX Laboratories by 58.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock worth $472,865,000 after acquiring an additional 414,802 shares during the last quarter. Finally, Durable Capital Partners LP bought a new position in IDEXX Laboratories during the 1st quarter worth approximately $153,180,000. Institutional investors and hedge funds own 87.84% of the company's stock.

Insider Buying and Selling

In other news, EVP Nimrata Hunt sold 1,200 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $656.53, for a total value of $787,836.00. Following the completion of the sale, the executive vice president owned 16,807 shares of the company's stock, valued at approximately $11,034,299.71. The trade was a 6.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director M Anne Szostak sold 2,187 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the completion of the sale, the director directly owned 262 shares of the company's stock, valued at approximately $169,600.46. The trade was a 89.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,057 shares of company stock valued at $34,293,468 in the last 90 days. 0.98% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $629.91 on Thursday. The company's fifty day simple moving average is $637.99 and its 200 day simple moving average is $539.07. The company has a market cap of $50.40 billion, a price-to-earnings ratio of 52.45, a PEG ratio of 4.06 and a beta of 1.58. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its 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. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. IDEXX Laboratories's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen lowered shares of IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 28th. 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. UBS Group started coverage on shares of IDEXX Laboratories in a research note on Wednesday, October 1st. They issued a "neutral" rating and a $720.00 price target on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of IDEXX Laboratories in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, IDEXX Laboratories currently has an average rating of "Moderate Buy" and an average target price of $656.50.

IDEXX Laboratories Company 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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