TimesSquare Capital Management LLC Increases Stake in IDEXX Laboratories, Inc. $IDXX

TimesSquare Capital Management LLC grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 201,276 shares of the company’s stock after buying an additional 3,530 shares during the period. IDEXX Laboratories accounts for approximately 1.6% of TimesSquare Capital Management LLC’s holdings, making the stock its 12th biggest position. TimesSquare Capital Management LLC’s holdings in IDEXX Laboratories were worth $107,952,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of IDXX. Alps Advisors Inc. bought a new position in IDEXX Laboratories in the first quarter valued at about $357,000. Cerity Partners LLC boosted its position in shares of IDEXX Laboratories by 63.5% during the first quarter. Cerity Partners LLC now owns 18,630 shares of the company’s stock worth $7,824,000 after acquiring an additional 7,235 shares during the last quarter. Ballentine Partners LLC grew its position in shares of IDEXX Laboratories by 20.7% during the first quarter. Ballentine Partners LLC now owns 1,478 shares of the company’s stock valued at $621,000 after purchasing an additional 253 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in IDEXX Laboratories by 79.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company’s stock worth $8,160,000 after acquiring an additional 8,609 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in IDEXX Laboratories by 47.0% during the first quarter. New York State Common Retirement Fund now owns 80,986 shares of the company’s stock valued at $34,010,000 after purchasing an additional 25,902 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 0.4%

IDXX stock opened at $712.47 on Wednesday. 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 12-month low of $356.14 and a 12-month high of $735.00. The stock has a market cap of $56.89 billion, a price-to-earnings ratio of 59.32, a PEG ratio of 4.06 and a beta of 1.62. The business’s 50-day moving average is $647.99 and its 200 day moving average is $584.23.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Monday, November 3rd. The company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.26. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm earned $2.80 earnings per share. The company’s revenue for the quarter 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. On average, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IDXX shares. Jefferies Financial Group restated a “buy” rating and issued a $830.00 target price on shares of IDEXX Laboratories in a report on Tuesday, November 4th. BTIG Research lifted their price objective on IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. increased their target price on IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Morgan Stanley boosted their target price on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen raised shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $730.50.

Insider Activity at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 9,425 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $703.34, for a total transaction of $6,628,979.50. Following the transaction, the executive vice president owned 21,149 shares in the company, valued at approximately $14,874,937.66. This trade represents a 30.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director M Anne Szostak sold 2,187 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $647.33, for a total value of $1,415,710.71. Following the completion of the sale, the director owned 262 shares of the company’s stock, valued at approximately $169,600.46. The trade was a 89.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.98% of the stock is currently owned by company insiders.

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.