Wellington Management Group LLP Raises Stake in IDEXX Laboratories, Inc. $IDXX

Key Points

• Wellington Management Group LLP increased its shares in IDEXX Laboratories by 12.4%, acquiring an additional 24,204 shares, bringing their total ownership to approximately 0.27% valued at $92.21 million.
• IDEXX Laboratories reported a quarterly earnings of $3.63 EPS, exceeding analysts' expectations of $3.28 EPS, with revenue reaching $1.11 billion.
• Recent analyst activities included upgrades from Piper Sandler and JPMorgan Chase, with price targets for IDEXX Laboratories seen between $675 and $700.

Wellington Management Group LLP grew its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 219,573 shares of the company's stock after purchasing an additional 24,204 shares during the quarter. Wellington Management Group LLP owned 0.27% of IDEXX Laboratories worth $92,210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in IDXX. TD Waterhouse Canada Inc. boosted its stake in shares of IDEXX Laboratories by 34.8% in the fourth quarter. TD Waterhouse Canada Inc. now owns 511 shares of the company's stock valued at $211,000 after purchasing an additional 132 shares during the period. Syon Capital LLC boosted its stake in shares of IDEXX Laboratories by 7.6% in the fourth quarter. Syon Capital LLC now owns 809 shares of the company's stock valued at $334,000 after purchasing an additional 57 shares during the period. J. Stern & Co. LLP boosted its stake in shares of IDEXX Laboratories by 20.0% in the fourth quarter. J. Stern & Co. LLP now owns 3,983 shares of the company's stock valued at $1,647,000 after purchasing an additional 663 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of IDEXX Laboratories in the fourth quarter valued at approximately $4,015,000. Finally, Topsail Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the fourth quarter valued at approximately $390,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock traded down $0.10 during trading on Wednesday, reaching $641.62. The company's stock had a trading volume of 84,972 shares, compared to its average volume of 714,014. The company has a 50-day moving average price of $574.61 and a two-hundred day moving average price of $496.67. The firm has a market cap of $51.33 billion, a PE ratio of 53.54, a P/E/G ratio of 4.15 and a beta of 1.49. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $688.12. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, beating 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 net margin of 24.41% and a return on equity of 64.42%. The company's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. BTIG Research raised their target price on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company 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 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Leerink Partners raised their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Finally, Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, IDEXX Laboratories currently has an average rating of "Moderate Buy" and an average price target of $649.44.

Insiders Place Their Bets

In other news, CEO Jonathan Jay Mazelsky sold 29,260 shares of IDEXX Laboratories stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $631.98, for a total value of $18,491,734.80. Following the transaction, the chief executive officer directly owned 83,311 shares of the company's stock, valued at $52,650,885.78. The trade was a 25.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nimrata Hunt sold 7,143 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the completion of the transaction, the executive vice president directly owned 18,007 shares in the company, valued at $11,352,153.01. This represents a 28.40% decrease in their ownership of the stock. 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.

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.