IDEXX Laboratories, Inc. $IDXX Stock Position Reduced by Tsai Capital Corp

Tsai Capital Corp lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 49.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,640 shares of the company’s stock after selling 4,585 shares during the quarter. IDEXX Laboratories makes up 1.8% of Tsai Capital Corp’s holdings, making the stock its 22nd largest position. Tsai Capital Corp’s holdings in IDEXX Laboratories were worth $2,489,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of IDXX. Bank of New York Mellon Corp raised its holdings in shares of IDEXX Laboratories by 156.2% during the second quarter. Bank of New York Mellon Corp now owns 1,451,390 shares of the company’s stock worth $778,439,000 after acquiring an additional 884,808 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in 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 worth $835,244,000 after purchasing an additional 825,965 shares during the last quarter. Generation Investment Management LLP acquired a new position in IDEXX Laboratories in the 2nd quarter worth about $304,277,000. Select Equity Group L.P. purchased a new stake in shares of IDEXX Laboratories during the 1st quarter worth about $194,834,000. Finally, Nuveen LLC acquired a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $179,784,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $703.34, for a total value of $6,628,979.50. Following the completion of the transaction, the executive vice president directly owned 21,149 shares of the company’s stock, valued at approximately $14,874,937.66. The trade was a 30.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $753.05 on Friday. The stock has a market capitalization of $60.13 billion, a P/E ratio of 62.70, a price-to-earnings-growth ratio of 4.06 and a beta of 1.62. 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, Inc. has a 1 year low of $356.14 and a 1 year high of $769.98. The firm has a 50 day moving average of $666.95 and a 200-day moving average of $605.05.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.08. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm posted $2.80 EPS. The business’s revenue was up 13.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. As a group, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IDXX. UBS Group increased their price objective on IDEXX Laboratories from $710.00 to $750.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $830.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, November 4th. Piper Sandler restated a “neutral” rating and set a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Morgan Stanley raised their price target on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Finally, Leerink Partners set a $785.00 target price on IDEXX Laboratories in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $730.50.

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.