Strs Ohio Trims Holdings in IDEXX Laboratories, Inc. $IDXX

Strs Ohio reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 23.2% in the third quarter, Holdings Channel reports. The firm owned 12,230 shares of the company’s stock after selling 3,699 shares during the period. Strs Ohio’s holdings in IDEXX Laboratories were worth $7,814,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. WealthCollab LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter valued at about $30,000. J.Safra Asset Management Corp purchased a new position in shares of IDEXX Laboratories during the third quarter worth approximately $31,000. Armstrong Advisory Group Inc. raised its stake in shares of IDEXX Laboratories by 55.9% during the third quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock valued at $34,000 after acquiring an additional 19 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of IDEXX Laboratories in the third quarter valued at approximately $35,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of the firm’s 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 in the company, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.98% of the stock is currently owned by company insiders.

IDEXX Laboratories Price Performance

IDXX opened at $697.82 on Tuesday. The business’s 50-day moving average is $706.41 and its two-hundred day moving average is $657.44. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $769.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.18 and a quick ratio of 0.87. The firm has a market capitalization of $55.72 billion, a PE ratio of 55.34, a price-to-earnings-growth ratio of 3.71 and a beta of 1.67.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, November 3rd. The company reported $3.22 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 prior year, the firm posted $2.80 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Weiss Ratings upgraded IDEXX Laboratories from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Wall Street Zen lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. Morgan Stanley raised their target price on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $830.00 price target on shares of IDEXX Laboratories in a report 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $763.50.

IDEXX Laboratories 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.