Southeast Asset Advisors LLC Takes $422,000 Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Southeast Asset Advisors LLC has made a new investment of $422,000 in IDEXX Laboratories, purchasing 1,005 shares during the first quarter of 2023.
• Analysts maintain a positive outlook on IDEXX, with a consensus price target of $649.44 and several firms upgrading their ratings, including Morgan Stanley raising the target from $722.00 to $765.00.
• Insider trading activity includes significant sales by EVP Michael G. Erickson and CEO Jonathan Jay Mazelsky, with a total of 51,870 shares sold, valued at approximately $32.9 million in the last 90 days.

Southeast Asset Advisors LLC acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 1,005 shares of the company's stock, valued at approximately $422,000.

A number of other large investors also recently bought and sold shares of IDXX. GAMMA Investing LLC boosted its holdings in shares of IDEXX Laboratories by 59,810.7% in the first quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock valued at $3,856,950,000 after acquiring an additional 916,898 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in IDEXX Laboratories by 71.0% in the first 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 period. Nuveen LLC purchased a new position in shares of IDEXX Laboratories during the 1st quarter worth approximately $179,784,000. Principal Financial Group Inc. lifted its holdings in shares of IDEXX Laboratories by 58.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after buying an additional 414,802 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of IDEXX Laboratories in the 4th quarter valued at approximately $156,412,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

Wall Street Analysts Forecast Growth

IDXX has been the topic of a number of recent analyst reports. BTIG Research upped their price objective on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Leerink Partners raised their price objective on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a report on Monday, August 4th. Finally, Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $649.44.

Insiders Place Their Bets

In other news, EVP Nimrata Hunt sold 7,143 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $630.43, for a total value of $4,503,161.49. Following the transaction, the executive vice president owned 18,007 shares in the company, valued at $11,352,153.01. This represents a 28.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director M Anne Szostak sold 2,187 shares of the firm'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 transaction, the director directly owned 262 shares in the company, valued at approximately $169,600.46. The trade was a 89.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Trading Up 0.1%

IDXX traded up $0.37 on Tuesday, reaching $641.72. 416,541 shares of the company's stock were exchanged, compared to its average volume of 782,970. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12. The company has a market cap of $51.34 billion, a price-to-earnings ratio of 53.43, a PEG ratio of 4.15 and a beta of 1.49. 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 company's 50 day moving average is $574.61 and its 200-day moving average is $496.67.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the business earned $2.44 EPS. The business'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 analysts predict 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.