Seilern Investment Management Ltd Lowers Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Seilern Investment Management Ltd reduced its stake in IDEXX Laboratories by 20.2%, selling 53,773 shares to hold a total of 212,176 shares.
• IDEXX Laboratories reported $3.63 earnings per share for the latest quarter, exceeding expectations and reflecting a 10.6% revenue increase year-over-year.
• Analysts have shown a favorable outlook on IDEXX Laboratories, with several raising their target prices and a consensus rating of "Moderate Buy" among investment analysts.

Seilern Investment Management Ltd lessened its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 20.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 212,176 shares of the company's stock after selling 53,773 shares during the quarter. IDEXX Laboratories makes up about 7.5% of Seilern Investment Management Ltd's investment portfolio, making the stock its 4th largest position. Seilern Investment Management Ltd owned 0.26% of IDEXX Laboratories worth $113,798,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IDXX. GAMMA Investing LLC boosted its stake in IDEXX Laboratories by 59,810.7% in the 1st quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock valued at $3,856,950,000 after buying an additional 916,898 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in IDEXX Laboratories by 71.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock valued at $835,244,000 after purchasing an additional 825,965 shares during the last quarter. Select Equity Group L.P. bought a new stake in shares of IDEXX Laboratories during the first quarter worth $194,834,000. Nuveen LLC bought a new stake in shares of IDEXX Laboratories during the first quarter worth $179,784,000. Finally, Principal Financial Group Inc. raised its position in shares of IDEXX Laboratories by 58.3% during the first 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 during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Stock Up 0.3%

IDXX traded up $1.66 on Tuesday, hitting $645.65. 404,494 shares of the company were exchanged, compared to its average volume of 368,687. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12. The company has a market cap of $51.65 billion, a PE ratio of 53.76, a PEG ratio of 4.17 and a beta of 1.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The stock's fifty day moving average is $607.69 and its 200-day moving average is $516.54.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company posted $2.44 earnings per share. IDEXX Laboratories's 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. Equities research analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a research report on Monday, August 4th. Morgan Stanley upped their price objective on IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a report on Friday, August 15th. Jefferies Financial Group started coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective for the company. Finally, Leerink Partners boosted their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $649.44.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Sharon E. Underberg sold 5,450 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 6,156 shares in the company, valued at $4,011,249.60. This represents a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 value of $1,415,710.71. Following the completion of the sale, the director owned 262 shares in the company, valued at $169,600.46. This 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 in the last ninety days. Insiders own 0.98% of the company's stock.

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.