768 Shares in IDEXX Laboratories, Inc. $IDXX Acquired by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC acquired a new stake in IDEXX Laboratories with 768 shares valued at approximately $323,000 in the first quarter.
• Multiple hedge funds, including MorganRosel Wealth Management LLC and Bank of Jackson Hole Trust, have also made significant adjustments to their positions in IDEXX Laboratories, indicating strong institutional interest.
• IDEXX Laboratories reported earnings of $3.63 per share for the last quarter, surpassing expectations, along with a year-over-year revenue increase of 10.6% to $1.11 billion.

MBB Public Markets I LLC acquired a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 768 shares of the company's stock, valued at approximately $323,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in IDEXX Laboratories by 1.5% during the first quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company's stock valued at $4,139,001,000 after purchasing an additional 146,427 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of IDEXX Laboratories by 71.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock worth $835,244,000 after buying an additional 825,965 shares in the last quarter. Invesco Ltd. lifted its stake in shares of IDEXX Laboratories by 0.5% in the first quarter. Invesco Ltd. now owns 1,166,406 shares of the company's stock worth $489,832,000 after buying an additional 5,418 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of IDEXX Laboratories by 58.3% in the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock worth $472,865,000 after buying an additional 414,802 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in IDEXX Laboratories by 59,810.7% during the first quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock worth $3,856,950,000 after purchasing an additional 916,898 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Trading Down 0.6%

Shares of IDXX traded down $4.02 during trading on Friday, reaching $641.14. 317,919 shares of the company traded hands, compared to its average volume of 372,779. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12. The stock has a market cap of $51.29 billion, a PE ratio of 53.38, a price-to-earnings-growth ratio of 4.18 and a beta of 1.56. The stock has a 50-day simple moving average of $603.59 and a 200-day simple moving average of $513.29. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The firm 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%. The business's quarterly revenue was up 10.6% compared to the same quarter last year. 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, analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on IDXX. Leerink Partners lifted their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price on the stock. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Piper Sandler reaffirmed a "neutral" rating and set a $700.00 target price (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Finally, 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 report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has an average rating of "Moderate Buy" and an average price target of $649.44.

Insider Transactions at IDEXX Laboratories

In related news, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories 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 transaction, the executive vice president 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the completion of the transaction, the executive vice president owned 7,132 shares of the company's stock, valued at $4,477,041.68. This trade represents a 54.11% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is owned by corporate insiders.

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.