Vantage Investment Partners LLC Purchases 11,548 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Vantage Investment Partners LLC increased its stake in IDEXX Laboratories by 21.7%, acquiring an additional 11,548 shares during the second quarter, bringing its total to 64,765 shares valued at approximately $34.7 million.
• Several large investors modified their holdings in IDEXX, with Price T Rowe Associates increasing its stake by 71%, now owning nearly 2 million shares valued at $835 million.
• IDEXX Laboratories reported $3.63 earnings per share, exceeding analysts' expectations, while revenue for the quarter reached $1.11 billion, a 10.6% year-over-year increase.

Vantage Investment Partners LLC increased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 21.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,765 shares of the company's stock after purchasing an additional 11,548 shares during the period. IDEXX Laboratories comprises about 2.5% of Vantage Investment Partners LLC's investment portfolio, making the stock its 19th largest position. Vantage Investment Partners LLC owned about 0.08% of IDEXX Laboratories worth $34,736,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IDXX. Price T Rowe Associates Inc. MD increased its stake 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 acquiring an additional 825,965 shares during the period. Select Equity Group L.P. acquired a new stake in IDEXX Laboratories during the first quarter valued at approximately $194,834,000. Nuveen LLC bought a new stake in shares of IDEXX Laboratories in the 1st quarter valued at approximately $179,784,000. Principal Financial Group Inc. raised 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 worth $472,865,000 after buying an additional 414,802 shares in the last quarter. Finally, Durable Capital Partners LP acquired a new position in shares of IDEXX Laboratories in the 1st quarter worth approximately $153,180,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at IDEXX Laboratories

In other news, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total value of $5,279,921.14. Following the sale, the executive vice president directly owned 7,132 shares in the company, valued at $4,477,041.68. This trade represents a 54.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director M Anne Szostak sold 2,187 shares of IDEXX Laboratories stock in a transaction 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 completion of the sale, the director owned 262 shares in the company, valued at $169,600.46. The trade was a 89.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,057 shares of company stock worth $34,293,468. Company insiders own 0.98% of the company's stock.

IDEXX Laboratories Trading Down 0.4%

Shares of NASDAQ IDXX opened at $631.19 on Monday. The stock has a market cap of $50.50 billion, a price-to-earnings ratio of 52.56, a P/E/G ratio of 4.09 and a beta of 1.58. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The company's fifty day moving average is $634.52 and its 200-day moving average is $536.37.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its 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 analyst estimates of $1.06 billion. During the same period in the previous year, the company 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. Equities research analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on IDXX shares. JPMorgan Chase & Co. upped their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. UBS Group initiated coverage on shares of IDEXX Laboratories in a report on Wednesday. They issued a "neutral" rating and a $720.00 target price on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of IDEXX Laboratories in a research report on Saturday, September 27th. Morgan Stanley boosted their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. Finally, Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a report on Monday, August 4th. One 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. According to data from MarketBeat.com, IDEXX Laboratories currently has an average rating of "Moderate Buy" and an average target price of $656.50.

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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