William Blair Investment Management LLC Buys 47,977 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• William Blair Investment Management LLC increased its stake in IDEXX Laboratories by 7.5%, acquiring an additional 47,977 shares, bringing its total ownership to 685,088 shares, valued at approximately $367.4 million.
• Institutional investors own 87.84% of IDEXX Laboratories, with significant increases in holdings from firms like Price T Rowe Associates, which lifted its position by 71.0%.
• Equities analysts have mixed views on IDEXX Laboratories, with price targets ranging from $600 to $785, and the stock currently holding a consensus rating of "Moderate Buy."

William Blair Investment Management LLC boosted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 685,088 shares of the company's stock after acquiring an additional 47,977 shares during the quarter. IDEXX Laboratories accounts for 1.0% of William Blair Investment Management LLC's portfolio, making the stock its 15th largest position. William Blair Investment Management LLC owned approximately 0.85% of IDEXX Laboratories worth $367,440,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in IDEXX Laboratories by 71.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock worth $835,244,000 after buying an additional 825,965 shares in the last quarter. Select Equity Group L.P. bought a new stake in IDEXX Laboratories during the 1st quarter worth about $194,834,000. Nuveen LLC bought a new stake in IDEXX Laboratories during the 1st quarter worth about $179,784,000. Principal Financial Group Inc. lifted its position in IDEXX Laboratories by 58.3% during 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 bought a new stake in IDEXX Laboratories during the 1st quarter worth about $153,180,000. 87.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 2,187 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $647.33, for a total value of $1,415,710.71. Following the transaction, the director owned 262 shares in the company, valued at approximately $169,600.46. This represents a 89.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $631.98, for a total transaction of $18,491,734.80. Following the completion of the transaction, the chief executive officer owned 83,311 shares in the company, valued at approximately $52,650,885.78. This trade represents a 25.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,057 shares of company stock worth $34,293,468 in the last 90 days. Corporate insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Leerink Partners boosted their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Stifel Nicolaus set a $640.00 price target on shares of IDEXX Laboratories in a research report on Monday, August 4th. JPMorgan Chase & Co. boosted their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. BTIG Research boosted their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen cut shares of IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 28th. One investment 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $656.50.

IDEXX Laboratories Stock Down 0.3%

Shares of IDXX stock opened at $635.40 on Friday. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The stock has a market cap of $50.84 billion, a price-to-earnings ratio of 52.91, a PEG ratio of 4.13 and a beta of 1.58. The firm's 50-day moving average is $639.99 and its 200-day moving average is $549.35. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly 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. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the business earned $2.44 EPS. IDEXX Laboratories's quarterly revenue was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

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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