Vantage Investment Partners LLC Reduces Position in IDEXX Laboratories, Inc. $IDXX

Vantage Investment Partners LLC decreased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 12.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,707 shares of the company’s stock after selling 8,058 shares during the period. IDEXX Laboratories accounts for about 2.5% of Vantage Investment Partners LLC’s holdings, making the stock its 20th biggest position. Vantage Investment Partners LLC’s holdings in IDEXX Laboratories were worth $36,230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of IDXX. Bank of New York Mellon Corp boosted its holdings in IDEXX Laboratories by 156.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,451,390 shares of the company’s stock worth $778,439,000 after buying an additional 884,808 shares during the period. Generation Investment Management LLP purchased a new stake in shares of IDEXX Laboratories during the second quarter worth $304,277,000. Norges Bank bought a new position in shares of IDEXX Laboratories in the second quarter worth $221,955,000. Schroder Investment Management Group boosted its holdings in shares of IDEXX Laboratories by 295.1% in the second quarter. Schroder Investment Management Group now owns 315,785 shares of the company’s stock worth $169,368,000 after acquiring an additional 235,863 shares during the period. Finally, Montrusco Bolton Investments Inc. grew its position in shares of IDEXX Laboratories by 50.3% in the second quarter. Montrusco Bolton Investments Inc. now owns 429,409 shares of the company’s stock valued at $224,153,000 after purchasing an additional 143,641 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 0.8%

Shares of NASDAQ IDXX opened at $691.05 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average of $705.75 and a 200-day moving average of $653.69. The firm has a market capitalization of $55.18 billion, a price-to-earnings ratio of 54.80, a PEG ratio of 3.72 and a beta of 1.67. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $769.98.

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

Insider Activity

In related news, EVP Nimrata Hunt sold 9,425 shares of the company’s stock in a transaction on 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 transaction, the executive vice president directly owned 21,149 shares in the company, valued at approximately $14,874,937.66. The trade was a 30.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IDXX. BTIG Research increased their price objective on IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Stifel Nicolaus set a $775.00 price target on IDEXX Laboratories in a research report on Monday, November 3rd. Leerink Partners set a $785.00 price objective on shares of IDEXX Laboratories in a research report on Monday, November 3rd. JPMorgan Chase & Co. boosted their price objective on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Finally, Morgan Stanley increased their target price on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average target price 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.