IDEXX Laboratories, Inc. $IDXX Shares Sold by EFG Asset Management Americas Corp.

EFG Asset Management Americas Corp. decreased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,592 shares of the company’s stock after selling 301 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in IDEXX Laboratories were worth $2,999,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of IDXX. Vanguard Group Inc. lifted its holdings in shares of IDEXX Laboratories by 1.5% during the first quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company’s stock valued at $4,139,001,000 after purchasing an additional 146,427 shares during the last quarter. Geode Capital Management LLC increased its position in shares of IDEXX Laboratories by 2.3% in the second quarter. Geode Capital Management LLC now owns 2,464,290 shares of the company’s stock worth $1,317,875,000 after acquiring an additional 54,402 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of IDEXX Laboratories by 71.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company’s stock valued at $835,244,000 after acquiring an additional 825,965 shares in the last quarter. Bank of New York Mellon Corp boosted its stake 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 purchasing an additional 884,808 shares during the period. Finally, Invesco Ltd. grew its position in IDEXX Laboratories by 0.5% during the 1st quarter. Invesco Ltd. now owns 1,166,406 shares of the company’s stock worth $489,832,000 after purchasing an additional 5,418 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IDXX. Piper Sandler restated a “neutral” rating and issued a $700.00 target price (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Stifel Nicolaus set a $775.00 price objective on IDEXX Laboratories in a research report on Monday, November 3rd. UBS Group upped their target price on IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Morgan Stanley increased their price target on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $730.50.

Insider Activity

In other IDEXX Laboratories news, Director M Anne Szostak sold 2,187 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total value of $1,415,710.71. Following the transaction, the director directly owned 262 shares of the company’s stock, valued at $169,600.46. The trade was a 89.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nimrata Hunt sold 9,425 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 21,149 shares of the company’s stock, valued at $14,874,937.66. This represents a 30.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.98% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $697.10 on Thursday. 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 has a market cap of $55.66 billion, a PE ratio of 58.04, a PEG ratio of 4.06 and a beta of 1.62. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $735.00. The firm’s 50 day moving average price is $653.54 and its 200 day moving average price is $593.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data 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. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. IDEXX Laboratories’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.80 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. As a group, research analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

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.