Macquarie Group Ltd. Raises Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Posted by on Mar 7th, 2023

Macquarie Group Ltd. increased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Rating) by 274.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,569 shares of the company’s stock after purchasing an additional 18,001 shares during the quarter. Macquarie Group Ltd.’s holdings in IDEXX Laboratories were worth $8,005,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp raised its stake in IDEXX Laboratories by 6.1% in the third quarter. Van ECK Associates Corp now owns 12,723 shares of the company’s stock valued at $4,145,000 after buying an additional 737 shares during the last quarter. Amalgamated Bank raised its stake in IDEXX Laboratories by 1.1% in the third quarter. Amalgamated Bank now owns 22,426 shares of the company’s stock valued at $7,306,000 after buying an additional 251 shares during the last quarter. Wealthspire Advisors LLC raised its stake in IDEXX Laboratories by 9.1% in the second quarter. Wealthspire Advisors LLC now owns 1,862 shares of the company’s stock valued at $653,000 after buying an additional 155 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in IDEXX Laboratories by 0.6% in the third quarter. Mutual of America Capital Management LLC now owns 12,379 shares of the company’s stock valued at $4,033,000 after buying an additional 73 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in IDEXX Laboratories by 17.2% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 63,139 shares of the company’s stock valued at $20,571,000 after buying an additional 9,283 shares during the last quarter. 87.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on IDXX shares. Atlantic Securities increased their price objective on IDEXX Laboratories from $470.00 to $600.00 and gave the company an “overweight” rating in a report on Tuesday, February 7th. The Goldman Sachs Group increased their price objective on IDEXX Laboratories from $465.00 to $530.00 and gave the company a “buy” rating in a report on Wednesday, January 25th. TheStreet raised IDEXX Laboratories from a “c+” rating to a “b-” rating in a report on Friday, November 25th. Morgan Stanley cut their price objective on IDEXX Laboratories from $573.00 to $543.00 and set an “overweight” rating on the stock in a report on Tuesday, November 15th. Finally, Barclays increased their price objective on IDEXX Laboratories from $582.00 to $590.00 and gave the company an “overweight” rating in a report on Wednesday, February 8th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $514.75.

IDEXX Laboratories Stock Down 0.4 %

Shares of IDXX opened at $486.16 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.14. IDEXX Laboratories, Inc. has a 12 month low of $317.06 and a 12 month high of $560.92. The stock’s 50 day moving average is $471.49 and its two-hundred day moving average is $408.57. The firm has a market cap of $40.30 billion, a P/E ratio of 60.54, a PEG ratio of 2.83 and a beta of 1.18.

IDEXX Laboratories (NASDAQ:IDXX – Get Rating) last issued its quarterly earnings data on Monday, February 6th. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.92 by $0.13. The company had revenue of $828.60 million for the quarter, compared to analyst estimates of $820.91 million. IDEXX Laboratories had a return on equity of 124.51% and a net margin of 20.17%. IDEXX Laboratories’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $1.89 earnings per share. Analysts predict that IDEXX Laboratories, Inc. will post 9.58 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other news, SVP Kathy V. Turner sold 2,000 shares of IDEXX Laboratories stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $504.59, for a total value of $1,009,180.00. Following the completion of the sale, the senior vice president now directly owns 7,380 shares of the company’s stock, valued at $3,723,874.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Kathy V. Turner sold 2,000 shares of the business’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $504.59, for a total transaction of $1,009,180.00. Following the completion of the transaction, the senior vice president now directly owns 7,380 shares of the company’s stock, valued at approximately $3,723,874.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kathy V. Turner sold 1,000 shares of IDEXX Laboratories stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $505.04, for a total value of $505,040.00. Following the sale, the senior vice president now directly owns 6,941 shares of the company’s stock, valued at $3,505,482.64. The disclosure for this sale can be found here. Company insiders own 2.06% of the company’s stock.

IDEXX Laboratories Profile

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IDEXX Laboratories, Inc engages in the development, manufacture, and distribution of products and services for the animal veterinary, livestock and poultry, dairy and water testing markets. It operates through the following segments: Companion Animal Group (CAG), Water, Livestock, Poultry and Dairy (LPD), and Other.

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Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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