Martin Currie Ltd. Acquires 6,272 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Martin Currie Ltd. has increased its holdings in IDEXX Laboratories, Inc. by 8.6% during the first quarter, now owning 79,215 shares valued at approximately $33.3 million.
• Institutional investors continue to show interest in IDEXX Laboratories, with notable increases in positions from firms including Itau Unibanco Holding S.A. and Bank of Jackson Hole Trust, suggesting a bullish outlook on the company.
• IDEXX Laboratories reported strong financial results for the recent quarter, with an earnings per share (EPS) of $3.63, exceeding analyst expectations and reflecting a 10.6% increase in revenue year-over-year.

Martin Currie Ltd. grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,215 shares of the company's stock after acquiring an additional 6,272 shares during the period. IDEXX Laboratories comprises approximately 1.3% of Martin Currie Ltd.'s holdings, making the stock its 25th biggest position. Martin Currie Ltd. owned 0.10% of IDEXX Laboratories worth $33,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in IDXX. MorganRosel Wealth Management LLC acquired a new position in IDEXX Laboratories during the 1st quarter worth $26,000. Colonial Trust Co SC boosted its stake in IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after purchasing an additional 39 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its stake in IDEXX Laboratories by 55.6% during the 1st 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 during the period. Bank of Jackson Hole Trust boosted its stake in IDEXX Laboratories by 328.6% during the 1st 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 during the period. Finally, Itau Unibanco Holding S.A. boosted its stake in IDEXX Laboratories by 540.0% during the 4th 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 during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Up 0.5%

IDXX traded up $3.14 on Wednesday, reaching $639.85. 525,226 shares of the company traded hands, compared to its average volume of 845,060. The stock's 50 day moving average price is $565.36 and its 200-day moving average price is $491.59. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The company has a market cap of $51.19 billion, a price-to-earnings ratio of 53.28, a PEG ratio of 4.12 and a beta of 1.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $3.63 EPS for the quarter, beating 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 firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. The firm's 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, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IDXX shares. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Morgan Stanley boosted their price target 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. JPMorgan Chase & Co. boosted their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Piper Sandler restated a "neutral" rating and set a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Finally, Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $649.44.

Insider Buying and Selling

In other IDEXX Laboratories news, EVP Michael G. Erickson sold 406 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total value of $263,883.76. Following the completion of the sale, the executive vice president directly owned 11,287 shares of the company's stock, valued at $7,336,098.52. The trade was a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Nimrata Hunt sold 1,200 shares of the business's stock in a transaction that occurred 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 directly owned 16,807 shares of the company's stock, valued at $11,034,299.71. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,870 shares of company stock valued at $32,877,757. 0.98% of the stock is owned by company insiders.

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.