IDEXX Laboratories, Inc. $IDXX Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 201,918 shares of the company’s stock after buying an additional 2,528 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of IDEXX Laboratories worth $108,297,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new stake in IDEXX Laboratories during the first quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock worth $35,000 after purchasing an additional 30 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of IDEXX Laboratories during the 2nd quarter valued at approximately $36,000. Finally, WPG Advisers LLC purchased a new position in shares of IDEXX Laboratories during the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $640.85 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. The stock’s 50 day simple moving average is $638.40 and its 200-day simple moving average is $559.16. The company has a market cap of $51.27 billion, a PE ratio of 53.36, a price-to-earnings-growth ratio of 4.15 and a beta of 1.58. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data 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. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm posted $2.44 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Nimrata Hunt sold 1,200 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $656.53, for a total value of $787,836.00. Following the completion of the sale, the executive vice president owned 16,807 shares of the company’s stock, valued at approximately $11,034,299.71. This represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael G. Erickson sold 406 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $649.96, for a total value of $263,883.76. Following the sale, the executive vice president directly owned 11,287 shares of the company’s stock, valued at approximately $7,336,098.52. This trade represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,057 shares of company stock valued at $34,293,468. Insiders own 0.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on IDXX. JPMorgan Chase & Co. raised their price target 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. Wall Street Zen cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 28th. Leerink Partners upped their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of IDEXX Laboratories in a research report on Saturday. Finally, Stifel Nicolaus set a $640.00 price objective on IDEXX Laboratories in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $656.50.

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.