Norinchukin Bank The Boosts Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Norinchukin Bank The increased its position in IDEXX Laboratories, Inc. by 33.2% during Q1, acquiring a total of 7,449 shares valued at approximately $3.13 million.
• Multiple hedge funds have also significantly increased their stakes in IDEXX, with CW Advisors LLC upping its investment by 303.5% and Price T Rowe Associates raising theirs by 71.0%.
• IDEXX Laboratories reported better-than-expected earnings in its last quarterly results, posting $3.63 EPS against a consensus estimate of $3.28, while also achieving year-over-year revenue growth of 10.6%.

Norinchukin Bank The grew its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 33.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,449 shares of the company's stock after buying an additional 1,855 shares during the quarter. Norinchukin Bank The's holdings in IDEXX Laboratories were worth $3,128,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Mutual of America Capital Management LLC lifted its holdings in IDEXX Laboratories by 79.6% in the first quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company's stock valued at $8,160,000 after buying an additional 8,609 shares during the period. Golden State Wealth Management LLC increased its holdings in IDEXX Laboratories by 3,766.7% during the 1st quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock worth $49,000 after purchasing an additional 113 shares in the last quarter. Sagespring Wealth Partners LLC bought a new position in IDEXX Laboratories during the 1st quarter worth about $229,000. Banque Transatlantique SA bought a new position in IDEXX Laboratories in the fourth quarter valued at $2,681,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in IDEXX Laboratories by 13.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company's stock valued at $10,731,000 after purchasing an additional 2,931 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Stifel Nicolaus set a $640.00 price target on shares of IDEXX Laboratories in a research note on Monday, August 4th. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective for the company. Leerink Partners raised their target price 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. Piper Sandler reaffirmed a "neutral" rating and set a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $649.44.

Insiders Place Their Bets

In other IDEXX Laboratories 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 transaction of $3,551,220.00. Following the transaction, the executive vice president directly owned 6,156 shares of the company's stock, valued at approximately $4,011,249.60. This trade represents a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nimrata Hunt sold 1,200 shares of the firm'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 transaction, the executive vice president owned 16,807 shares in the company, valued at $11,034,299.71. This represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,057 shares of company stock valued at $34,293,468 over the last three months. Corporate insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Performance

IDXX traded down $3.57 during trading on Wednesday, hitting $638.15. 124,843 shares of the company traded hands, compared to its average volume of 714,291. The firm has a market cap of $51.06 billion, a P/E ratio of 53.16, a price-to-earnings-growth ratio of 4.15 and a beta of 1.49. The stock's fifty day moving average is $574.61 and its 200 day moving average is $496.67. 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, Inc. has a one year low of $356.14 and a one year high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the business earned $2.44 earnings per share. The company's quarterly 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. As a group, equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

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.