Raymond James Financial Inc. Has $81.16 Million Stock Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Raymond James Financial Inc. increased its stake in IDEXX Laboratories by 11.1% to own 193,256 shares, valued at approximately $81.2 million as of the latest SEC filing.
• Multiple hedge funds, including Forum Financial Management and Tower Research Capital, have also raised their positions in IDEXX, contributing to 87.84% of the company's stock being owned by institutional investors.
• IDEXX Laboratories reported a quarterly earnings per share of $3.63, exceeding estimates, with projections for FY 2025 EPS guidance ranging from 12.400 to 12.760.

Raymond James Financial Inc. boosted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 193,256 shares of the company's stock after purchasing an additional 19,366 shares during the quarter. Raymond James Financial Inc. owned about 0.24% of IDEXX Laboratories worth $81,158,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cresset Asset Management LLC boosted its stake in IDEXX Laboratories by 11.0% during the 1st quarter. Cresset Asset Management LLC now owns 2,616 shares of the company's stock valued at $1,099,000 after purchasing an additional 259 shares during the period. Boston Family Office LLC boosted its stake in IDEXX Laboratories by 4.7% during the 1st quarter. Boston Family Office LLC now owns 28,658 shares of the company's stock valued at $12,035,000 after purchasing an additional 1,277 shares during the period. American Century Companies Inc. boosted its stake in IDEXX Laboratories by 7.2% during the 1st quarter. American Century Companies Inc. now owns 867,992 shares of the company's stock valued at $364,513,000 after purchasing an additional 58,178 shares during the period. Ethic Inc. lifted its position in shares of IDEXX Laboratories by 39.1% in the 1st quarter. Ethic Inc. now owns 8,657 shares of the company's stock worth $3,624,000 after acquiring an additional 2,432 shares during the period. Finally, Martin Currie Ltd. lifted its position in shares of IDEXX Laboratories by 8.6% in the 1st quarter. Martin Currie Ltd. now owns 79,215 shares of the company's stock worth $33,266,000 after acquiring an additional 6,272 shares during the period. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of IDXX traded down $4.20 during mid-day trading on Monday, reaching $641.35. The company had a trading volume of 395,639 shares, compared to its average volume of 793,847. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12. 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 moving average is $572.19 and its 200-day moving average is $495.65. The company has a market capitalization of $51.31 billion, a P/E ratio of 53.40, a P/E/G ratio of 4.18 and a beta of 1.49.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the prior year, the firm posted $2.44 EPS. IDEXX Laboratories's quarterly revenue was up 10.6% compared to the same quarter last year. 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 EPS for the current year.

Insider Transactions at IDEXX Laboratories

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 stock was sold at an average price of $651.60, for a total value of $3,551,220.00. Following the completion of the transaction, the executive vice president owned 6,156 shares in the company, valued at approximately $4,011,249.60. The trade was a 46.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nimrata Hunt sold 7,143 shares of IDEXX Laboratories stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total value of $4,503,161.49. Following the completion of the transaction, the executive vice president owned 18,007 shares of the company's stock, valued at approximately $11,352,153.01. The trade was a 28.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,870 shares of company stock worth $32,877,757. 0.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IDXX has been the subject of a number of research reports. Leerink Partners raised their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective for the company. Stifel Nicolaus set a $640.00 price objective on IDEXX Laboratories in a research report on Monday, August 4th. Morgan Stanley raised their price objective on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, IDEXX Laboratories has an average rating of "Moderate Buy" and an average price target 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.