Plum Street Advisors LLC Takes Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Plum Street Advisors LLC acquired 482 shares of IDEXX Laboratories, valued at approximately $202,000, marking their new position in the company.
• IDEXX Laboratories reported a 10.6% increase in revenue year-over-year, with earnings per share of $3.63 that surpassed analysts' expectations.
• Multiple investors have increased their stakes in IDEXX, with institutional investors owning 87.84% of the company's stock, indicating strong confidence in its performance.

Plum Street Advisors LLC acquired a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 482 shares of the company's stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in IDEXX Laboratories by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company's stock worth $4,139,001,000 after acquiring an additional 146,427 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of IDEXX Laboratories by 71.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock worth $835,244,000 after acquiring an additional 825,965 shares in the last quarter. Invesco Ltd. grew its stake in shares of IDEXX Laboratories by 0.5% during the 1st quarter. Invesco Ltd. now owns 1,166,406 shares of the company's stock worth $489,832,000 after acquiring an additional 5,418 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of IDEXX Laboratories by 58.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock worth $472,865,000 after acquiring an additional 414,802 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of IDEXX Laboratories by 37.0% during 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 worth $452,046,000 after acquiring an additional 290,551 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $645.16 on Friday. The company has a market cap of $51.62 billion, a price-to-earnings ratio of 53.72, a PEG ratio of 4.13 and a beta of 1.56. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. The company's fifty day simple moving average is $601.69 and its 200 day simple moving average is $512.04. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31.

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 business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the company earned $2.44 earnings per share. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Activity

In other IDEXX Laboratories news, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories stock in a transaction 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 completion of the transaction, the executive vice president directly owned 6,156 shares of the company's stock, valued at $4,011,249.60. The trade was a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the transaction, the executive vice president directly owned 7,132 shares of the company's stock, valued at approximately $4,477,041.68. This trade represents a 54.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IDXX. 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 note on Thursday, July 17th. Morgan Stanley raised their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. 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 note on Tuesday, August 5th. Piper Sandler reaffirmed a "neutral" rating and set a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Finally, Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, IDEXX Laboratories currently has an average rating of "Moderate Buy" and an average target price of $649.44.

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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