DAVENPORT & Co LLC Cuts Stake in IDEXX Laboratories, Inc. $IDXX

DAVENPORT & Co LLC cut its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 18.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,190 shares of the company’s stock after selling 1,159 shares during the period. DAVENPORT & Co LLC’s holdings in IDEXX Laboratories were worth $3,316,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of IDXX. Bank of New York Mellon Corp grew its position in IDEXX Laboratories by 156.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,451,390 shares of the company’s stock valued at $778,439,000 after purchasing an additional 884,808 shares during the last quarter. Generation Investment Management LLP bought a new position in shares of IDEXX Laboratories in the second quarter worth approximately $304,277,000. Select Equity Group L.P. purchased a new stake in shares of IDEXX Laboratories during the first quarter valued at approximately $194,834,000. Norges Bank bought a new stake in shares of IDEXX Laboratories during the second quarter valued at approximately $221,955,000. Finally, Durable Capital Partners LP purchased a new position in IDEXX Laboratories in the 1st quarter worth approximately $153,180,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of the company’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 transaction, the executive vice president directly owned 21,149 shares in the company, valued at $14,874,937.66. This represents a 30.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $688.48 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.24. The business has a 50-day simple moving average of $695.70 and a two-hundred day simple moving average of $631.35. The stock has a market cap of $54.98 billion, a price-to-earnings ratio of 54.60, a PEG ratio of 4.11 and a beta of 1.67. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.08. The firm had revenue of $1.11 billion for 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 quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.80 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. On average, analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analyst Upgrades and Downgrades

IDXX has been the topic of several recent analyst reports. Weiss Ratings downgraded IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. JPMorgan Chase & Co. upped their price target on IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Stifel Nicolaus set a $775.00 price objective on IDEXX Laboratories in a research report on Monday, November 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $830.00 target price on shares of IDEXX Laboratories in a research report on Tuesday, November 4th. Finally, Barclays began coverage on shares of IDEXX Laboratories in a research note on Monday, December 8th. They set an “overweight” rating and a $850.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $763.50.

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.