KLP Kapitalforvaltning AS Cuts Position in IDEXX Laboratories, Inc. $IDXX

KLP Kapitalforvaltning AS reduced its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 16.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 33,200 shares of the company’s stock after selling 6,400 shares during the period. KLP Kapitalforvaltning AS’s holdings in IDEXX Laboratories were worth $21,211,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in IDXX. Opal Wealth Advisors LLC acquired a new position in shares of IDEXX Laboratories during the 2nd quarter valued at $29,000. WealthCollab LLC acquired a new stake in IDEXX Laboratories in the 2nd quarter valued at $30,000. Armstrong Advisory Group Inc. raised its position in IDEXX Laboratories by 55.9% in the third quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock valued at $34,000 after purchasing an additional 19 shares during the period. Salomon & Ludwin LLC purchased a new position in IDEXX Laboratories in the third quarter valued at about $35,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of IDEXX Laboratories during the second quarter worth about $36,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IDXX. Leerink Partners set a $785.00 target price on IDEXX Laboratories in a research note on Monday, November 3rd. Barclays started coverage on IDEXX Laboratories in a report on Monday, December 8th. They issued an “overweight” rating and a $850.00 price target for the company. JPMorgan Chase & Co. lifted 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. BTIG Research upped their target price on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen raised shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $763.50.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $703.34, for a total transaction of $6,628,979.50. Following the completion of the transaction, the executive vice president directly owned 21,149 shares of the company’s stock, valued at $14,874,937.66. This trade represents a 30.83% decrease in their position. 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 corporate insiders.

IDEXX Laboratories Price Performance

IDXX stock opened at $714.55 on Thursday. The stock’s 50 day moving average is $703.58 and its two-hundred day moving average is $641.25. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $769.98. The company has a market capitalization of $57.06 billion, a PE ratio of 56.67, a P/E/G ratio of 3.78 and a beta of 1.67. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.24.

IDEXX Laboratories (NASDAQ:IDXX) last released its 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. 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 67.78% and a net margin of 24.65%.The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.80 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

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.