AE Wealth Management LLC Has $4.52 Million Stake in IDEXX Laboratories, Inc. $IDXX

AE Wealth Management LLC reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 39.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,071 shares of the company’s stock after selling 4,526 shares during the quarter. AE Wealth Management LLC’s holdings in IDEXX Laboratories were worth $4,518,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. WealthCollab LLC acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter worth $30,000. J.Safra Asset Management Corp bought a new stake in IDEXX Laboratories during the third quarter worth about $31,000. Armstrong Advisory Group Inc. grew its stake in IDEXX Laboratories by 55.9% during the third quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock worth $34,000 after buying an additional 19 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in IDEXX Laboratories during the third quarter worth about $35,000. Finally, Ameritas Advisory Services LLC bought a new position in IDEXX Laboratories in the 2nd quarter valued at about $36,000. Institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IDXX. Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a report on Monday, November 3rd. Weiss Ratings cut IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Barclays initiated coverage on IDEXX Laboratories in a research note on Monday, December 8th. They issued an “overweight” rating and a $850.00 price target on the stock. Morgan Stanley upped their price objective on IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Finally, UBS Group raised their price objective on IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average price target of $763.50.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $670.46 on Friday. The stock has a 50-day moving average price of $705.35 and a two-hundred day moving average price of $660.81. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $769.98. The company has a market capitalization of $53.54 billion, a PE ratio of 53.17, a P/E/G ratio of 3.61 and a beta of 1.67. 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 released its quarterly earnings results on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.08. The company 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% compared to the same quarter last year. During the same period in the previous year, the business posted $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Transactions at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.98% of the company’s stock.

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.