Lord Abbett & CO. LLC Buys New Shares in IDEXX Laboratories, Inc. $IDXX

Key Points

• Lord Abbett & CO. LLC made a new investment of $1.32 million in IDEXX Laboratories, acquiring approximately 3,133 shares.
• During the same period, GAMMA Investing LLC significantly increased its stake in IDEXX by 59,810.7%, now owning over 918,431 shares valued at approximately $3.86 billion.
• IDEXX Laboratories reported $3.63 EPS for its last quarter, exceeding expectations, with revenue of $1.11 billion, and delivered a year-over-year growth rate of 10.6%.

Lord Abbett & CO. LLC bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,133 shares of the company's stock, valued at approximately $1,316,000.

Several other institutional investors have also made changes to their positions in IDXX. MorganRosel Wealth Management LLC purchased a new position in IDEXX Laboratories during the first quarter valued at approximately $26,000. 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 purchasing an additional 30 shares in the last quarter. Colonial Trust Co SC grew its position in 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 purchasing an additional 39 shares in the last quarter. Bank of Jackson Hole Trust grew its position in 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 purchasing an additional 69 shares in the last quarter. Finally, Itau Unibanco Holding S.A. grew its position in IDEXX Laboratories by 540.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock valued at $40,000 after purchasing an additional 81 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IDXX has been the topic of a number of research analyst reports. Jefferies Financial Group initiated 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 on the stock. 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. Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a research report on Monday, August 4th. Finally, Morgan Stanley boosted their target price on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, IDEXX Laboratories presently has an average rating of "Moderate Buy" and a consensus price target of $649.44.

Insiders Place Their Bets

In other news, EVP Sharon E. Underberg sold 5,450 shares of the business's stock in a transaction 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 in the company, valued at approximately $4,011,249.60. The trade was a 46.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nimrata Hunt sold 1,200 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $656.53, for a total transaction 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 $11,034,299.71. The trade was a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,870 shares of company stock valued at $32,877,757 in the last three months. Company insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock traded up $12.6450 on Friday, reaching $645.6950. The stock had a trading volume of 106,944 shares, compared to its average volume of 720,284. The business's 50-day moving average price is $567.48 and its two-hundred day moving average price is $492.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $688.12. The stock has a market cap of $51.66 billion, a P/E ratio of 53.91, a price-to-earnings-growth ratio of 4.14 and a beta of 1.49.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the company earned $2.44 earnings per share. IDEXX Laboratories'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. On average, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS 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.