Ninety One UK Ltd Lowers Stock Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Ninety One UK Ltd reduced its position in IDEXX Laboratories by 10.3%, currently owning 57,928 shares valued at approximately $31 million.
• IDEXX reported earnings of $3.63 per share for the last quarter, surpassing estimates, with a revenue of $1.11 billion, reflecting a 10.6% increase year-over-year.
• Several hedge funds have modified their positions in IDEXX, with some buying new stakes and others increasing their holdings, indicating ongoing interest from institutional investors.

Ninety One UK Ltd cut its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 10.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,928 shares of the company's stock after selling 6,681 shares during the period. Ninety One UK Ltd owned 0.07% of IDEXX Laboratories worth $31,069,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of IDEXX Laboratories during the 2nd quarter worth about $29,000. MorganRosel Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories in the first quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of IDEXX Laboratories by 55.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after buying an additional 30 shares in the last quarter. WPG Advisers LLC purchased a new stake in shares of IDEXX Laboratories in the first quarter valued at approximately $37,000. Finally, Bank of Jackson Hole Trust increased its position in shares of IDEXX Laboratories by 328.6% in the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock valued at $39,000 after buying an additional 69 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Trading Up 1.3%

IDXX opened at $638.89 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. The company's 50 day simple moving average is $629.94 and its two-hundred day simple moving average is $531.26. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. The firm has a market capitalization of $51.11 billion, a price-to-earnings ratio of 53.20, a price-to-earnings-growth ratio of 4.08 and a beta of 1.56.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.35. The firm had revenue of $1.11 billion for 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 company's revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director M Anne Szostak sold 2,187 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total value of $1,415,710.71. Following the transaction, the director owned 262 shares of the company's stock, valued at $169,600.46. This represents a 89.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Lane sold 8,411 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total value of $5,279,921.14. Following the completion of the transaction, the executive vice president directly owned 7,132 shares in the company, valued at approximately $4,477,041.68. This trade represents a 54.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,057 shares of company stock worth $34,293,468 over the last ninety days. 0.98% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on IDXX shares. JPMorgan Chase & Co. increased their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Leerink Partners increased their price objective on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective on the stock. Stifel Nicolaus set a $640.00 price target on shares of IDEXX Laboratories in a research note on Monday, August 4th. Finally, Morgan Stanley raised 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.

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