Old Port Advisors Increases Position in IDEXX Laboratories, Inc. $IDXX

Old Port Advisors raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 34.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,361 shares of the company’s stock after purchasing an additional 1,376 shares during the period. Old Port Advisors’ holdings in IDEXX Laboratories were worth $2,875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of IDEXX Laboratories by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company’s stock valued at $4,139,001,000 after purchasing an additional 146,427 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of IDEXX Laboratories by 71.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company’s stock valued at $835,244,000 after buying an additional 825,965 shares during the last quarter. Invesco Ltd. grew its position in shares of IDEXX Laboratories by 0.5% in the 1st quarter. Invesco Ltd. now owns 1,166,406 shares of the company’s stock valued at $489,832,000 after buying an additional 5,418 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of IDEXX Laboratories by 58.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company’s stock valued at $472,865,000 after buying an additional 414,802 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of IDEXX Laboratories by 37.0% in the 1st 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 buying an additional 290,551 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Michael Lane sold 8,411 shares of the firm’s 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 sale, the executive vice president owned 7,132 shares in the company, valued at approximately $4,477,041.68. This trade represents a 54.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sharon E. Underberg sold 5,450 shares of the firm’s 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 completion of the sale, the executive vice president owned 6,156 shares of the company’s stock, valued at $4,011,249.60. This trade represents a 46.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on IDXX shares. JPMorgan Chase & Co. increased their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $700.00 target price (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a “buy” rating and a $625.00 target price on the stock. Leerink Partners increased their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. Finally, Wall Street Zen raised shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $649.44.

IDEXX Laboratories Stock Up 2.3%

Shares of NASDAQ:IDXX opened at $632.22 on Friday. The stock has a market cap of $50.58 billion, a P/E ratio of 52.64, a P/E/G ratio of 4.00 and a beta of 1.56. The firm has a fifty day moving average price of $625.60 and a 200 day moving average price of $527.35. 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) last released its earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the business earned $2.44 EPS. The business’s 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.

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.