Strs Ohio Cuts Stake in IDEXX Laboratories, Inc. $IDXX

Strs Ohio lessened its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 23.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,230 shares of the company’s stock after selling 3,699 shares during the quarter. Strs Ohio’s holdings in IDEXX Laboratories were worth $7,814,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IDXX. Geode Capital Management LLC raised its position in shares of IDEXX Laboratories by 2.3% during the second quarter. Geode Capital Management LLC now owns 2,464,290 shares of the company’s stock valued at $1,317,875,000 after buying an additional 54,402 shares during the last quarter. Bank of New York Mellon Corp grew its stake in IDEXX Laboratories by 156.2% during the second quarter. Bank of New York Mellon Corp now owns 1,451,390 shares of the company’s stock valued at $778,439,000 after acquiring an additional 884,808 shares in the last quarter. William Blair Investment Management LLC increased its holdings in IDEXX Laboratories by 7.5% in the 2nd quarter. William Blair Investment Management LLC now owns 685,088 shares of the company’s stock valued at $367,440,000 after acquiring an additional 47,977 shares during the last quarter. Legal & General Group Plc lifted its stake in IDEXX Laboratories by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 648,626 shares of the company’s stock worth $347,884,000 after purchasing an additional 11,768 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of IDEXX Laboratories by 6.9% during the 2nd quarter. Franklin Resources Inc. now owns 592,649 shares of the company’s stock valued at $317,862,000 after purchasing an additional 38,202 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were 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 owned 21,149 shares of the company’s stock, valued at $14,874,937.66. This trade represents a 30.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.98% of the stock is owned by company insiders.

IDEXX Laboratories Stock Up 0.6%

Shares of IDXX opened at $697.82 on Tuesday. The company has a market cap of $55.72 billion, a PE ratio of 55.34, a P/E/G ratio of 3.71 and a beta of 1.67. The business has a fifty day moving average of $706.41 and a 200 day moving average of $657.44. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $769.98. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.24.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.08. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. IDEXX Laboratories had a net margin of 24.65% and a return on equity of 67.78%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. On average, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IDXX. Jefferies Financial Group reaffirmed a “buy” rating and issued a $830.00 target price on shares of IDEXX Laboratories in a report on Tuesday, November 4th. JPMorgan Chase & Co. lifted their price objective on IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. UBS Group increased their target price on IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Stifel Nicolaus set a $775.00 target price on shares of IDEXX Laboratories in a report on Monday, November 3rd. Finally, Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a research note on Monday, November 3rd. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $763.50.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc (NASDAQ: IDXX) is a global developer, manufacturer and provider of diagnostic products and services primarily for the animal health, water testing and food safety markets. Headquartered in Westbrook, Maine, the company supplies in-clinic diagnostic instruments, consumables, reference laboratory testing and practice-management tools that support veterinarians, livestock and dairy producers, and utilities and food producers worldwide.

IDEXX’s product portfolio includes point-of-care tests and immunoassays designed for rapid diagnosis in veterinary clinics, in-clinic chemistry and hematology analyzers, automated urinalysis systems, and digital diagnostic solutions.