Shell Asset Management Co. Acquires 2,080 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Shell Asset Management Co. increased its stake in IDEXX Laboratories, Inc. by 122.6%, acquiring an additional 2,080 shares in the second quarter, bringing their total holdings to 3,777 shares valued at approximately $2.03 million.
• IDEXX Laboratories reported a quarterly earnings result of $3.63 EPS, exceeding analysts' expectations of $3.28, along with revenues of $1.11 billion, reflecting a year-over-year increase of 10.6%.
• Major institutional investors own 87.84% of IDEXX Laboratories stock, with several funds recently increasing their stakes, indicating strong institutional confidence in the company.

Shell Asset Management Co. grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 122.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,777 shares of the company's stock after buying an additional 2,080 shares during the period. Shell Asset Management Co.'s holdings in IDEXX Laboratories were worth $2,026,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Red Spruce Capital LLC boosted its stake in IDEXX Laboratories by 1.1% in the 2nd quarter. Red Spruce Capital LLC now owns 1,701 shares of the company's stock worth $912,000 after purchasing an additional 19 shares during the period. Rise Advisors LLC boosted its stake in IDEXX Laboratories by 3.9% in the 2nd quarter. Rise Advisors LLC now owns 562 shares of the company's stock worth $301,000 after purchasing an additional 21 shares during the period. Sage Mountain Advisors LLC boosted its position in shares of IDEXX Laboratories by 3.8% during the 1st quarter. Sage Mountain Advisors LLC now owns 635 shares of the company's stock valued at $267,000 after acquiring an additional 23 shares during the last quarter. Great Lakes Advisors LLC boosted its position in shares of IDEXX Laboratories by 0.9% during the 1st quarter. Great Lakes Advisors LLC now owns 2,567 shares of the company's stock valued at $1,078,000 after acquiring an additional 23 shares during the last quarter. Finally, PDS Planning Inc boosted its position in shares of IDEXX Laboratories by 3.9% during the 1st quarter. PDS Planning Inc now owns 641 shares of the company's stock valued at $269,000 after acquiring an additional 24 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock opened at $629.91 on Thursday. 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 business's 50 day simple moving average is $637.99 and its two-hundred day simple moving average is $539.07. The stock has a market capitalization of $50.40 billion, a P/E ratio of 52.45, a price-to-earnings-growth ratio of 4.06 and a beta of 1.58. 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 announced its quarterly earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.35. The business had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The business's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Activity

In other news, EVP Michael Lane sold 8,411 shares of the business's stock in a transaction that occurred 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. The trade was a 54.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Anne Szostak sold 2,187 shares of the business'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 transaction, the director directly owned 262 shares in the company, valued at $169,600.46. This trade represents a 89.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group assumed coverage on IDEXX Laboratories in a research report on Wednesday, October 1st. They set a "neutral" rating and a $720.00 price target for the company. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a research report on Monday, August 4th. Morgan Stanley lifted their price target on IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. BTIG Research lifted their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of IDEXX Laboratories in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, IDEXX Laboratories has a consensus rating of "Moderate Buy" and an average target price of $656.50.

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.

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