Manchester Capital Management LLC Decreases Stake in IDEXX Laboratories, Inc. $IDXX

Manchester Capital Management LLC lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 45.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132 shares of the company’s stock after selling 110 shares during the quarter. Manchester Capital Management LLC’s holdings in IDEXX Laboratories were worth $71,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Elo Mutual Pension Insurance Co bought a new stake in IDEXX Laboratories during the second quarter worth $5,734,000. Southeast Asset Advisors LLC raised its stake in shares of IDEXX Laboratories by 212.3% during the 2nd quarter. Southeast Asset Advisors LLC now owns 3,139 shares of the company’s stock worth $1,684,000 after purchasing an additional 2,134 shares during the period. Laurel Wealth Advisors LLC raised its stake in shares of IDEXX Laboratories by 53,536.4% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 11,800 shares of the company’s stock worth $6,329,000 after purchasing an additional 11,778 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of IDEXX Laboratories by 43.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 3,860 shares of the company’s stock worth $2,070,000 after buying an additional 1,165 shares during the last quarter. Finally, Insigneo Advisory Services LLC bought a new position in IDEXX Laboratories during the second quarter valued at about $296,000. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Trading Down 1.4%

NASDAQ:IDXX opened at $755.96 on Thursday. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $769.98. The stock’s fifty day moving average price is $663.01 and its two-hundred day moving average price is $602.29. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. The company has a market cap of $60.36 billion, a P/E ratio of 62.94, a P/E/G ratio of 4.06 and a beta of 1.62.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.08. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.07 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. As a group, analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 9,425 shares of the 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 sale, the executive vice president directly owned 21,149 shares of the company’s stock, valued at approximately $14,874,937.66. This represents a 30.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on IDXX shares. Leerink Partners set a $785.00 price objective on shares of IDEXX Laboratories in a research report on Monday, November 3rd. JPMorgan Chase & Co. lifted their price target on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. UBS Group increased their price objective 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 boosted their target price on IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. One 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $730.50.

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.