Nissay Asset Management Corp Japan ADV Raises Stake in IDEXX Laboratories, Inc. $IDXX

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in IDEXX Laboratories by 9.1% in Q1, owning 20,389 shares valued at approximately $8.56 million.
• IDEXX Laboratories reported earnings of $3.63 per share for the most recent quarter, exceeding the consensus estimate of $3.28, with revenues of $1.11 billion compared to expectations of $1.06 billion.
• Analysts have given IDEXX Laboratories a consensus rating of "Moderate Buy" with an average price target of $649.44, reflecting strong confidence in the stock's performance.

Nissay Asset Management Corp Japan ADV boosted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,389 shares of the company's stock after buying an additional 1,701 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in IDEXX Laboratories were worth $8,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of IDXX. Balyasny Asset Management L.P. boosted its stake in IDEXX Laboratories by 230.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,455 shares of the company's stock worth $1,015,000 after buying an additional 1,712 shares in the last quarter. Captrust Financial Advisors boosted its stake in IDEXX Laboratories by 22.7% in the fourth quarter. Captrust Financial Advisors now owns 5,825 shares of the company's stock worth $2,408,000 after buying an additional 1,078 shares in the last quarter. Colonial Trust Co SC boosted its stake in IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after buying an additional 39 shares in the last quarter. Deutsche Bank AG boosted its stake in IDEXX Laboratories by 17.9% in the fourth quarter. Deutsche Bank AG now owns 357,479 shares of the company's stock worth $147,796,000 after buying an additional 54,360 shares in the last quarter. Finally, Focus Partners Wealth boosted its stake in IDEXX Laboratories by 175.2% in the fourth quarter. Focus Partners Wealth now owns 40,576 shares of the company's stock worth $17,603,000 after buying an additional 25,830 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $642.99 on Friday. The stock has a market cap of $51.44 billion, a P/E ratio of 53.54, a price-to-earnings-growth ratio of 4.16 and a beta of 1.56. The firm's fifty day simple moving average is $593.22 and its 200 day simple moving average is $507.11. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12. 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 released 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 business 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 firm's revenue for the quarter 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. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IDXX. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a research note on Monday, August 4th. Jefferies Financial Group began coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective for the company. Leerink Partners increased their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. BTIG Research increased their price objective on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $649.44.

Insiders Place Their Bets

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 in the company, valued at $11,034,299.71. The trade was a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director M Anne Szostak sold 2,187 shares of IDEXX Laboratories stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the completion of the sale, the director owned 262 shares in the company, valued at approximately $169,600.46. This trade represents a 89.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,057 shares of company stock valued at $34,293,468 over the last quarter. 0.98% of the stock is owned by company insiders.

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.

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