Voya Investment Management LLC Purchases 2,926 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Voya Investment Management LLC increased its stake in IDEXX Laboratories by 4.7% during the first quarter, now holding approximately $27.54 million in shares.
• Insider activity saw EVP Michael Lane selling 8,411 shares for approximately $5.28 million, significantly reducing his ownership by 54.11%.
• Multiple analysts have raised their price targets for IDEXX Laboratories, with BTIG Research setting a new target at $785 and maintaining a "buy" rating, indicating positive market sentiment.

Voya Investment Management LLC raised its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,582 shares of the company's stock after acquiring an additional 2,926 shares during the quarter. Voya Investment Management LLC owned approximately 0.08% of IDEXX Laboratories worth $27,541,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in IDEXX Laboratories by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company's stock valued at $4,139,001,000 after acquiring an additional 146,427 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of IDEXX Laboratories by 71.0% during 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 during the last quarter. Invesco Ltd. lifted its holdings in shares of IDEXX Laboratories by 0.5% during the first quarter. Invesco Ltd. now owns 1,166,406 shares of the company's stock valued at $489,832,000 after purchasing an additional 5,418 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of IDEXX Laboratories by 58.3% during the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after purchasing an additional 414,802 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of IDEXX Laboratories by 37.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,429 shares of the company's stock valued at $452,046,000 after purchasing an additional 290,551 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Insider Activity

In other news, Director M Anne Szostak sold 2,187 shares of the business's 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 of the company's stock, valued at $169,600.46. The trade was a 89.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Lane sold 8,411 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the sale, the executive vice president directly owned 7,132 shares of the company's stock, valued at approximately $4,477,041.68. The trade was a 54.11% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,057 shares of company stock worth $34,293,468. Company insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Performance

IDXX traded down $4.05 during mid-day trading on Friday, reaching $651.46. 188,833 shares of the company traded hands, compared to its average volume of 685,971. The stock has a market capitalization of $52.12 billion, a P/E ratio of 54.35, a P/E/G ratio of 4.15 and a beta of 1.56. 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 price is $611.99 and its 200-day moving average price is $518.90. 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 announced its earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The business 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 quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on IDXX shares. Morgan Stanley lifted their target price on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a report on Friday, August 15th. Piper Sandler restated a "neutral" rating and issued a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. BTIG Research boosted their price objective on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective for the company. 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, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $649.44.

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.