1,871 Shares in IDEXX Laboratories, Inc. $IDXX Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. acquired a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,871 shares of the company’s stock, valued at approximately $1,195,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IDXX. J.Safra Asset Management Corp bought a new stake in IDEXX Laboratories during the third quarter worth about $31,000. Armstrong Advisory Group Inc. boosted its position 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 worth $34,000 after purchasing an additional 19 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of IDEXX Laboratories in the 3rd quarter worth approximately $35,000. WealthCollab LLC bought a new position in IDEXX Laboratories during the 2nd quarter valued at approximately $30,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in IDEXX Laboratories by 62.2% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 60 shares of the company’s stock valued at $38,000 after buying an additional 23 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IDXX shares. Morgan Stanley increased their target price on IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. BTIG Research raised their price objective 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. Wall Street Zen cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a report on Monday, November 3rd. Finally, Stifel Nicolaus set a $775.00 price target on shares of IDEXX Laboratories in a research report on Monday, November 3rd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $763.50.

Insider Activity

In related news, EVP Nimrata Hunt sold 9,425 shares of IDEXX Laboratories stock in a transaction on Friday, November 7th. The stock was 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 owned 21,149 shares of the company’s stock, valued at $14,874,937.66. The trade was a 30.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.98% of the stock is currently owned by company insiders.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $693.85 on Friday. The firm’s 50-day moving average price is $705.83 and its 200-day moving average price is $655.53. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $769.98. The company has a market cap of $55.40 billion, a PE ratio of 55.02, a PEG ratio of 3.71 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 quarterly earnings data 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 net margin of 24.65% and a return on equity of 67.78%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company earned $2.80 earnings per share. The firm’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. As a group, analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

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.