Price T Rowe Associates Inc. MD Boosts Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Price T Rowe Associates Inc. MD raised its stake in IDEXX Laboratories by 71% in Q1, now owning approximately 2.47% of the company valued at $835.2 million.
• Several hedge funds have increased their investments in IDEXX Laboratories, with Candriam S.C.A. lifting its position by 187.9%, now holding 82,191 shares.
• Wall Street analysts remain optimistic, with BTIG Research raising the price target for IDEXX Laboratories from $545 to $785, and a consensus rating of "Moderate Buy" among analysts.

Price T Rowe Associates Inc. MD increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 71.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,988,912 shares of the company's stock after purchasing an additional 825,965 shares during the period. Price T Rowe Associates Inc. MD owned approximately 2.47% of IDEXX Laboratories worth $835,244,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. TD Waterhouse Canada Inc. boosted its position in shares of IDEXX Laboratories by 34.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 511 shares of the company's stock valued at $211,000 after acquiring an additional 132 shares during the last quarter. Syon Capital LLC boosted its position in IDEXX Laboratories by 7.6% during the fourth quarter. Syon Capital LLC now owns 809 shares of the company's stock valued at $334,000 after purchasing an additional 57 shares in the last quarter. J. Stern & Co. LLP boosted its holdings in IDEXX Laboratories by 20.0% in the fourth quarter. J. Stern & Co. LLP now owns 3,983 shares of the company's stock worth $1,647,000 after acquiring an additional 663 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of IDEXX Laboratories in the fourth quarter worth about $4,015,000. Finally, Topsail Wealth Management LLC purchased a new position in IDEXX Laboratories during the fourth quarter valued at approximately $390,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP Sharon E. Underberg sold 5,450 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $651.60, for a total value of $3,551,220.00. Following the completion of the sale, the executive vice president directly owned 6,156 shares of the company's stock, valued at approximately $4,011,249.60. This represents a 46.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director M Anne Szostak sold 2,187 shares of the company's stock in a transaction that occurred 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 sale, the director owned 262 shares in the company, valued at $169,600.46. The trade was a 89.30% decrease in their ownership of the stock. 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. 0.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Piper Sandler reaffirmed a "neutral" rating and issued a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Leerink Partners increased their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. BTIG Research lifted their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. lifted their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a research report on Monday, August 4th. One investment 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.com, the company has an average rating of "Moderate Buy" and a consensus target price of $649.44.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX traded down $2.23 during mid-day trading on Wednesday, reaching $639.49. The company had a trading volume of 119,832 shares, compared to its average volume of 714,263. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The stock has a market cap of $51.16 billion, a PE ratio of 53.34, a P/E/G ratio of 4.15 and a beta of 1.49. The company has a 50-day moving average price of $574.61 and a two-hundred day moving average price of $496.67. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) 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 analyst estimates of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

IDEXX Laboratories 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.