IDEXX Laboratories, Inc. $IDXX Position Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 41.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,056,680 shares of the company’s stock after buying an additional 605,290 shares during the quarter. Bank of New York Mellon Corp’s holdings in IDEXX Laboratories were worth $1,313,992,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Empowered Funds LLC lifted its holdings in shares of IDEXX Laboratories by 6.6% in the first quarter. Empowered Funds LLC now owns 1,538 shares of the company’s stock valued at $646,000 after purchasing an additional 95 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter worth about $265,000. TD Private Client Wealth LLC boosted its position in IDEXX Laboratories by 57.3% during the 2nd quarter. TD Private Client Wealth LLC now owns 225 shares of the company’s stock worth $121,000 after acquiring an additional 82 shares during the period. GC Wealth Management RIA LLC purchased a new position in IDEXX Laboratories during the 2nd quarter valued at about $517,000. Finally, Bennett Selby Investments LP grew its stake in IDEXX Laboratories by 14.2% during the 2nd quarter. Bennett Selby Investments LP now owns 876 shares of the company’s stock valued at $470,000 after acquiring an additional 109 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 0.4%

IDXX stock opened at $694.75 on Wednesday. The firm has a market cap of $55.48 billion, a PE ratio of 55.10, a PEG ratio of 3.73 and a beta of 1.67. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $769.98. The company has a fifty day simple moving average of $706.90 and a 200 day simple moving average of $658.58. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24.

IDEXX Laboratories (NASDAQ:IDXX) last posted its 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 company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company earned $2.80 earnings per share. The business’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. Sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 9,425 shares of the business’s stock in a transaction that occurred 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 directly owned 21,149 shares in the company, valued at approximately $14,874,937.66. The trade was a 30.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a research report on Monday, November 3rd. JPMorgan Chase & Co. lifted their target price 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 boosted their price target on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Stifel Nicolaus set a $775.00 price target on shares of IDEXX Laboratories in a research note on Monday, November 3rd. Finally, Wall Street Zen cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 17th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $763.50.

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.