Villere ST Denis J & Co. LLC Sells 6,564 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Villere ST Denis J & Co. LLC reduced its stake in IDEXX Laboratories by 10.5%, selling 6,564 shares to hold a total of 56,241 shares, which amounts to approximately $30.16 million.
• Several large investors, including Price T Rowe Associates and Principal Financial Group, significantly increased their holdings in IDEXX Laboratories during the first quarter, reflecting growing institutional interest.
• IDEXX Laboratories recently reported earnings per share (EPS) of $3.63, exceeding analyst expectations, with a forecast of 11.93 EPS for the current year.

Villere ST Denis J & Co. LLC lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 10.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,241 shares of the company's stock after selling 6,564 shares during the quarter. IDEXX Laboratories makes up about 2.9% of Villere ST Denis J & Co. LLC's holdings, making the stock its 12th largest position. Villere ST Denis J & Co. LLC owned approximately 0.07% of IDEXX Laboratories worth $30,164,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of IDXX. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 in the last quarter. Select Equity Group L.P. bought a new stake in IDEXX Laboratories during the first quarter worth $194,834,000. Nuveen LLC bought a new stake in IDEXX Laboratories during the first quarter worth $179,784,000. Principal Financial Group Inc. lifted its holdings in IDEXX Laboratories by 58.3% during the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock worth $472,865,000 after acquiring an additional 414,802 shares during the period. Finally, Durable Capital Partners LP bought a new stake in IDEXX Laboratories during the first quarter worth $153,180,000. Institutional investors own 87.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IDXX shares. Wall Street Zen lowered IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 28th. JPMorgan Chase & Co. lifted their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Morgan Stanley lifted their price target on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a report on Friday, August 15th. Leerink Partners lifted their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of IDEXX Laboratories in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $656.50.

Insider Buying and Selling

In other news, CEO Jonathan Jay Mazelsky sold 29,260 shares of IDEXX Laboratories stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total value of $18,491,734.80. Following the completion of the transaction, the chief executive officer directly owned 83,311 shares in the company, valued at approximately $52,650,885.78. The trade was a 25.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction 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 completion of the transaction, the executive vice president owned 7,132 shares of the company's stock, valued at approximately $4,477,041.68. This trade represents a 54.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,057 shares of company stock valued at $34,293,468 in the last 90 days. Corporate insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $616.15 on Friday. The firm has a market cap of $49.29 billion, a PE ratio of 51.30, a PEG ratio of 4.07 and a beta of 1.58. The stock's fifty day moving average price is $641.49 and its two-hundred day moving average price is $541.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $688.12.

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

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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