VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 59,308 IDEXX Laboratories, Inc. $IDXX

Key Points

• Virginia Retirement Systems acquired 59,308 shares of IDEXX Laboratories, valued at approximately $31.81 million, increasing its stake to 0.07% of the company.
• Institutional investors hold approximately 87.84% of IDEXX Laboratories' stock, indicating strong institutional support for the company.
• IDEXX Laboratories reported a 10.6% increase in quarterly revenue year-over-year, with earnings per share of $3.63, surpassing analysts' expectations.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 59,308 shares of the company's stock, valued at approximately $31,809,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.07% of IDEXX Laboratories at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC raised its stake in IDEXX Laboratories by 79.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company's stock valued at $8,160,000 after acquiring an additional 8,609 shares in the last quarter. Golden State Wealth Management LLC raised its stake in shares of IDEXX Laboratories by 3,766.7% in the 1st quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock worth $49,000 after buying an additional 113 shares in the last quarter. Plato Investment Management Ltd raised its stake in shares of IDEXX Laboratories by 37.1% in the 1st quarter. Plato Investment Management Ltd now owns 3,087 shares of the company's stock worth $1,310,000 after buying an additional 835 shares in the last quarter. Genesis Wealth Advisors LLC bought a new stake in shares of IDEXX Laboratories in the 2nd quarter worth $215,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of IDEXX Laboratories in the 2nd quarter worth $273,000. Institutional investors own 87.84% of the company's stock.

Insiders Place Their Bets

In other news, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories stock in a transaction 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 transaction, the executive vice president owned 6,156 shares in the company, valued at approximately $4,011,249.60. The trade was a 46.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 transaction, the executive vice president owned 7,132 shares in the company, valued at $4,477,041.68. This represents a 54.11% 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 worth $34,293,468. Corporate insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $635.40 on Monday. 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 stock has a market capitalization of $50.83 billion, a price-to-earnings ratio of 52.91, a PEG ratio of 4.11 and a beta of 1.58. The stock's fifty day simple moving average is $639.99 and its 200 day simple moving average is $551.18. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week 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, topping analysts' consensus estimates of $3.28 by $0.35. The business had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The company's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on IDXX. UBS Group began coverage on IDEXX Laboratories in a research note on Wednesday, October 1st. They issued a "neutral" rating and a $720.00 price objective on the stock. Leerink Partners boosted their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. boosted their price objective on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Piper Sandler reissued a "neutral" rating and issued a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Finally, Morgan Stanley boosted their price objective on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $656.50.

IDEXX Laboratories Company 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.

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