United Services Automobile Association Takes $828,000 Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• United Services Automobile Association has invested approximately $828,000 in IDEXX Laboratories, acquiring 1,991 shares in the first quarter.
• Instinctual investors hold a significant portion of IDEXX, with 87.84% of the stock owned by institutional investors and hedge funds.
• IDEXX Laboratories reported Q2 earnings of $3.63 EPS, surpassing analyst expectations, with a year-over-year revenue increase of 10.6%.

United Services Automobile Association purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,991 shares of the company's stock, valued at approximately $828,000.

Several other large investors have also made changes to their positions in IDXX. Sage Mountain Advisors LLC grew its position in shares of IDEXX Laboratories by 3.8% during the first quarter. Sage Mountain Advisors LLC now owns 635 shares of the company's stock worth $267,000 after purchasing an additional 23 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in 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 buying an additional 23 shares in the last quarter. PDS Planning Inc raised its position in shares of IDEXX Laboratories by 3.9% during the first quarter. PDS Planning Inc now owns 641 shares of the company's stock valued at $269,000 after buying an additional 24 shares during the last quarter. King Luther Capital Management Corp lifted its holdings in shares of IDEXX Laboratories by 0.5% in the first quarter. King Luther Capital Management Corp now owns 4,896 shares of the company's stock worth $2,056,000 after buying an additional 24 shares in the last quarter. Finally, Bigelow Investment Advisors LLC boosted its position in shares of IDEXX Laboratories by 1.9% during the first quarter. Bigelow Investment Advisors LLC now owns 1,420 shares of the company's stock worth $596,000 after acquiring an additional 27 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Trading Down 0.6%

NASDAQ IDXX traded down $4.02 during trading on Friday, hitting $641.14. The stock had a trading volume of 317,919 shares, compared to its average volume of 372,779. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $688.12. The stock has a 50 day simple moving average of $603.59 and a 200 day simple moving average of $513.29. The stock has a market capitalization of $51.29 billion, a price-to-earnings ratio of 53.38, a P/E/G ratio of 4.18 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.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share 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 firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business posted $2.44 earnings per share. The company's revenue for the quarter was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on IDXX. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target on the stock. Piper Sandler restated a "neutral" rating and set a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. 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. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a report on Monday, August 4th. Finally, Leerink Partners boosted their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $649.44.

Insider Activity

In other news, Director M Anne Szostak sold 2,187 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the transaction, the director owned 262 shares in the company, valued at approximately $169,600.46. This trade represents a 89.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $3,551,220.00. Following the completion of the sale, the executive vice president directly owned 6,156 shares of the company's stock, valued at $4,011,249.60. The trade was a 46.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 54,057 shares of company stock valued at $34,293,468. Insiders own 0.98% of the company's stock.

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.