Ninety One UK Ltd Sells 22,366 Shares of IDEXX Laboratories, Inc. $IDXX

Ninety One UK Ltd reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 38.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,562 shares of the company’s stock after selling 22,366 shares during the quarter. Ninety One UK Ltd’s holdings in IDEXX Laboratories were worth $22,720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in IDXX. Opal Wealth Advisors LLC bought a new stake in IDEXX Laboratories in the second quarter valued at approximately $29,000. WealthCollab LLC bought a new position in IDEXX Laboratories during the 2nd quarter worth about $30,000. Armstrong Advisory Group Inc. raised its stake in shares of IDEXX Laboratories by 55.9% in the 3rd 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. Ameritas Advisory Services LLC bought a new stake in IDEXX Laboratories in the 2nd quarter valued at approximately $36,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of IDEXX Laboratories in the second quarter worth $36,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on IDXX. Morgan Stanley lifted their target price on IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. UBS Group increased their price target on shares of IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. 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 report on Tuesday, November 4th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $830.00 target price on shares of IDEXX Laboratories in a report on Tuesday, November 4th. Finally, Leerink Partners set a $785.00 price target on IDEXX Laboratories in a report on Monday, November 3rd. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $763.50.

IDEXX Laboratories Stock Down 0.8%

NASDAQ IDXX opened at $676.53 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. The company has a market cap of $54.02 billion, a price-to-earnings ratio of 53.65, a PEG ratio of 4.04 and a beta of 1.67. The company has a 50 day moving average of $699.11 and a 200-day moving average of $635.68. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $769.98.

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

Insider Buying and Selling

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 completion of the transaction, the executive vice president 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.98% of the company’s stock.

About IDEXX Laboratories

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.