Connor Clark & Lunn Investment Management Ltd. Takes Position in IDEXX Laboratories, Inc. $IDXX

Connor Clark & Lunn Investment Management Ltd. purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 969 shares of the company’s stock, valued at approximately $520,000.

Several other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in IDEXX Laboratories in the second quarter worth about $29,000. Ameritas Advisory Services LLC bought a new stake in shares of IDEXX Laboratories during the second quarter valued at approximately $36,000. WPG Advisers LLC purchased a new position in IDEXX Laboratories in the 1st quarter worth approximately $37,000. Bank of Jackson Hole Trust lifted its position in IDEXX Laboratories by 328.6% in the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company’s stock valued at $39,000 after acquiring an additional 69 shares in the last quarter. Finally, NewSquare Capital LLC lifted its position in IDEXX Laboratories by 87.5% in the 2nd quarter. NewSquare Capital LLC now owns 75 shares of the company’s stock valued at $40,000 after acquiring an additional 35 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Nimrata Hunt sold 9,425 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $703.34, for a total value of $6,628,979.50. Following the completion of the sale, the executive vice president directly owned 21,149 shares in the company, valued at $14,874,937.66. This represents a 30.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director M Anne Szostak sold 2,187 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total value of $1,415,710.71. Following the completion of the transaction, the director directly owned 262 shares in the company, valued at approximately $169,600.46. This represents a 89.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.98% of the company’s stock.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $697.10 on Thursday. The company has a 50-day moving average price of $653.54 and a 200-day moving average price of $593.39. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $735.00. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $55.66 billion, a P/E ratio of 58.04, a PEG ratio of 4.06 and a beta of 1.62.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Monday, November 3rd. The company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.08. 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 for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $2.80 earnings per share. The firm’s revenue was up 13.3% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on IDXX. Stifel Nicolaus set a $775.00 target price on IDEXX Laboratories in a report on Monday, November 3rd. Piper Sandler reiterated a “neutral” rating and issued a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. UBS Group upped their target price on shares of IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. 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 price objective on shares of IDEXX Laboratories in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $730.50.

IDEXX Laboratories 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.