Brown Advisory Inc. Sells 10,408 Shares of IDEXX Laboratories, Inc. $IDXX

Brown Advisory Inc. reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,761 shares of the company’s stock after selling 10,408 shares during the quarter. Brown Advisory Inc.’s holdings in IDEXX Laboratories were worth $58,333,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in IDXX. STF Management LP raised its holdings in IDEXX Laboratories by 1.3% in the second quarter. STF Management LP now owns 1,240 shares of the company’s stock worth $665,000 after purchasing an additional 16 shares in the last quarter. Clearstead Trust LLC boosted its holdings in shares of IDEXX Laboratories by 1.1% in the 2nd quarter. Clearstead Trust LLC now owns 1,515 shares of the company’s stock valued at $813,000 after buying an additional 16 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of IDEXX Laboratories by 1.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 1,051 shares of the company’s stock worth $564,000 after buying an additional 18 shares during the last quarter. Red Spruce Capital LLC raised its stake in shares of IDEXX Laboratories by 1.1% during the 2nd quarter. Red Spruce Capital LLC now owns 1,701 shares of the company’s stock worth $912,000 after acquiring an additional 19 shares in the last quarter. Finally, Huntington National Bank lifted its position in IDEXX Laboratories by 0.5% during the second quarter. Huntington National Bank now owns 3,651 shares of the company’s stock valued at $1,958,000 after acquiring an additional 19 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on IDXX shares. Wall Street Zen lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 29th. Piper Sandler reissued a “neutral” rating and issued a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Leerink Partners set a $785.00 target price on IDEXX Laboratories in a research report on Monday, November 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $830.00 price target on shares of IDEXX Laboratories in a research note on Tuesday, November 4th. Finally, Weiss Ratings upgraded IDEXX Laboratories from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $730.50.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction that occurred 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 approximately $14,874,937.66. This trade represents a 30.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.98% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $714.10 on Friday. The business has a fifty day moving average of $675.94 and a 200 day moving average of $612.34. 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 $57.02 billion, a price-to-earnings ratio of 56.63, a price-to-earnings-growth ratio of 4.28 and a beta of 1.67.

IDEXX Laboratories (NASDAQ:IDXX) last posted 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. IDEXX Laboratories had a return on equity of 67.78% and a net margin of 24.65%.The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the business earned $2.80 EPS. The company’s quarterly 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, research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current 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.