Montrusco Bolton Investments Inc. Raises Position in IDEXX Laboratories, Inc. $IDXX

Montrusco Bolton Investments Inc. raised its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 50.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 429,409 shares of the company’s stock after purchasing an additional 143,641 shares during the period. IDEXX Laboratories accounts for about 2.5% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 14th biggest position. Montrusco Bolton Investments Inc. owned about 0.53% of IDEXX Laboratories worth $224,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. MGO One Seven LLC purchased a new stake in IDEXX Laboratories during the second quarter valued at approximately $3,187,000. Alta Advisers Ltd purchased a new stake in IDEXX Laboratories during the second quarter valued at approximately $202,000. Valley Brook Capital Group Inc. purchased a new stake in IDEXX Laboratories during the second quarter valued at approximately $228,000. Vanguard Personalized Indexing Management LLC raised its position in IDEXX Laboratories by 6.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,190 shares of the company’s stock valued at $7,612,000 after purchasing an additional 848 shares during the period. Finally, Sovereign Financial Group Inc. purchased a new stake in IDEXX Laboratories during the second quarter valued at approximately $214,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Down 2.0%

Shares of NASDAQ:IDXX opened at $616.15 on Monday. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The stock has a market cap of $49.29 billion, a P/E ratio of 51.30, a price-to-earnings-growth ratio of 3.99 and a beta of 1.58. The business’s 50 day moving average is $641.49 and its 200 day moving average is $543.56. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the firm earned $2.44 earnings per share. IDEXX Laboratories’s revenue was up 10.6% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IDXX shares. Jefferies Financial Group started coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They set a “buy” rating and a $625.00 target price on the stock. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a research note on Monday, August 4th. UBS Group started coverage on IDEXX Laboratories in a research note on Wednesday, October 1st. They set a “neutral” rating and a $720.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of IDEXX Laboratories in a research note on Wednesday, October 8th. Finally, BTIG Research upped their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $656.50.

Insider Buying and Selling

In other IDEXX Laboratories news, EVP Sharon E. Underberg sold 5,450 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the sale, the executive vice president owned 6,156 shares of the company’s stock, valued at approximately $4,011,249.60. This trade represents a 46.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $631.98, for a total value of $18,491,734.80. Following the sale, the chief executive officer directly owned 83,311 shares in the company, valued at $52,650,885.78. This trade represents a 25.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,057 shares of company stock valued at $34,293,468 over the last 90 days. 0.98% of the stock is owned by 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.