Westpac Banking Corp Has $499,000 Position in IDEXX Laboratories, Inc. $IDXX

Westpac Banking Corp cut its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 83.0% during the 2nd quarter, Holdings Channel reports. The firm owned 930 shares of the company’s stock after selling 4,536 shares during the quarter. Westpac Banking Corp’s holdings in IDEXX Laboratories were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in IDEXX Laboratories during the second quarter worth approximately $29,000. Ameritas Advisory Services LLC bought a new position in shares of IDEXX Laboratories during the 2nd quarter worth approximately $36,000. WPG Advisers LLC acquired a new position in shares of IDEXX Laboratories during the 1st quarter worth approximately $37,000. Bank of Jackson Hole Trust increased its holdings in shares of IDEXX Laboratories by 328.6% during the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company’s stock worth $39,000 after acquiring an additional 69 shares during the last quarter. Finally, NewSquare Capital LLC raised its stake in IDEXX Laboratories by 87.5% in the 2nd quarter. NewSquare Capital LLC now owns 75 shares of the company’s stock valued at $40,000 after acquiring an additional 35 shares during the period. 87.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Leerink Partners set a $785.00 price objective on shares of IDEXX Laboratories in a research report on Monday, November 3rd. Wall Street Zen raised shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a report on Sunday. Morgan Stanley upped their price target on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Piper Sandler restated a “neutral” rating and set a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Finally, Stifel Nicolaus set a $775.00 price objective on IDEXX Laboratories in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $730.50.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $669.00 on Tuesday. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $735.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The firm’s 50-day simple moving average is $652.07 and its 200 day simple moving average is $591.26. The firm has a market cap of $53.42 billion, a price-to-earnings ratio of 55.70, a P/E/G ratio of 4.06 and a beta of 1.62.

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, topping analysts’ consensus estimates of $3.14 by $0.08. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business posted $2.80 EPS. The business’s revenue 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. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Buying and Selling

In other news, Director M Anne Szostak sold 2,187 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the sale, the director directly owned 262 shares of the company’s stock, valued at approximately $169,600.46. This represents a 89.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was 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 owned 21,149 shares in the company, valued at $14,874,937.66. The trade was a 30.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.98% of the company’s stock.

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.