MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Grows Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH significantly increased its stake in IDEXX Laboratories by 2,837.4%, owning 6,051 shares worth $3,245,000 at the end of the 2nd quarter.
• Several institutional investors, including Vanguard Group and Price T Rowe Associates, have also raised their holdings in IDEXX Laboratories, indicating robust interest in the stock.
• IDEXX Laboratories reported a 10.6% increase in quarterly revenue year-over-year, totaling $1.11 billion, with an earnings per share (EPS) of $3.63, surpassing analyst expectations.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 2,837.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,051 shares of the company's stock after buying an additional 5,845 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in IDEXX Laboratories were worth $3,245,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of IDEXX Laboratories by 1.5% in the 1st 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 during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of IDEXX Laboratories by 71.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock valued at $835,244,000 after purchasing an additional 825,965 shares during the last quarter. Invesco Ltd. raised its position in shares of IDEXX Laboratories by 0.5% in the 1st quarter. Invesco Ltd. now owns 1,166,406 shares of the company's stock valued at $489,832,000 after purchasing an additional 5,418 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of IDEXX Laboratories by 58.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after purchasing an additional 414,802 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of IDEXX Laboratories by 37.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,429 shares of the company's stock valued at $452,046,000 after purchasing an additional 290,551 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 1,200 shares of IDEXX Laboratories stock in a transaction on Monday, August 11th. The shares were sold at an average price of $656.53, for a total value of $787,836.00. Following the sale, the executive vice president 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories stock in a transaction on Friday, August 8th. The stock was sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the sale, the executive vice president directly owned 6,156 shares in the company, valued at approximately $4,011,249.60. This trade represents a 46.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,057 shares of company stock worth $34,293,468 in the last ninety days. Company insiders own 0.98% of the company's stock.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $627.17 on Thursday. The company's fifty day moving average price is $621.26 and its 200 day moving average price is $524.68. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $688.12. The stock has a market capitalization of $50.17 billion, a P/E ratio of 52.22, a P/E/G ratio of 4.20 and a beta of 1.56. 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 (NASDAQ:IDXX - Get Free Report) last released 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 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 analysts' expectations of $1.06 billion. During the same quarter last year, the company earned $2.44 EPS. The firm's revenue for the quarter 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. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

IDXX has been the subject of a number of recent research reports. BTIG Research raised their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Leerink Partners raised their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Stifel Nicolaus set a $640.00 price target on shares of IDEXX Laboratories in a research report on Monday, August 4th. JPMorgan Chase & Co. raised 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. Finally, Piper Sandler reissued 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. One investment 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's stock. According to MarketBeat.com, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $649.44.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.