Union Bancaire Privee UBP SA Sells 1,373 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Union Bancaire Privee UBP SA has reduced its holdings in IDEXX Laboratories, Inc. by 70.4%, selling 1,373 shares, and now owns 578 shares valued at $305,000.
• Several institutional investors, including Price T Rowe Associates and Select Equity Group, have significantly increased their positions in IDEXX Laboratories during the 1st quarter.
• IDEXX Laboratories reported earnings per share of $3.63 for the last quarter, exceeding analysts' estimates, and has set FY 2025 guidance at 12.400-12.760 EPS.

Union Bancaire Privee UBP SA decreased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 70.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 578 shares of the company's stock after selling 1,373 shares during the period. Union Bancaire Privee UBP SA's holdings in IDEXX Laboratories were worth $305,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IDXX. Price T Rowe Associates Inc. MD raised its position in shares of IDEXX Laboratories by 71.0% during 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 acquiring 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 1st quarter valued at $194,834,000. Nuveen LLC bought a new stake in shares of IDEXX Laboratories in the 1st quarter valued at $179,784,000. Principal Financial Group Inc. increased its position 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 in the last quarter. Finally, Durable Capital Partners LP bought a new stake in shares of IDEXX Laboratories in the 1st quarter valued at $153,180,000. Institutional investors own 87.84% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on IDXX shares. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective for the company. Leerink Partners upped their price objective on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Wall Street Zen cut shares of IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Piper Sandler restated 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. Finally, Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $656.50.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $620.11 on Thursday. The firm has a market cap of $49.61 billion, a PE ratio of 51.63, a PEG ratio of 4.14 and a beta of 1.58. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. The company has a fifty day moving average price of $631.52 and a 200 day moving average price of $531.87.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping analysts' consensus estimates of $3.28 by $0.35. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Michael Lane sold 8,411 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total value of $5,279,921.14. Following the completion of the transaction, the executive vice president owned 7,132 shares in the company, valued at $4,477,041.68. This trade represents a 54.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nimrata Hunt sold 7,143 shares of the firm's stock in a transaction dated 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 $11,352,153.01. The trade was a 28.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,057 shares of company stock worth $34,293,468 over the last three months. Company 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.

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