IDEXX Laboratories, Inc. $IDXX Shares Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 14.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 38,761 shares of the company’s stock after acquiring an additional 4,909 shares during the quarter. Mediolanum International Funds Ltd’s holdings in IDEXX Laboratories were worth $24,441,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Blalock Williams LLC purchased a new stake in shares of IDEXX Laboratories in the 3rd quarter valued at $590,000. Arkadios Wealth Advisors acquired a new position in IDEXX Laboratories in the 2nd quarter valued at about $405,000. Orion Porfolio Solutions LLC grew its position in IDEXX Laboratories by 116.6% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 10,718 shares of the company’s stock valued at $5,749,000 after acquiring an additional 5,770 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of IDEXX Laboratories during the third quarter worth about $2,381,000. Finally, Beacon Investment Advisory Services Inc. boosted its stake in shares of IDEXX Laboratories by 15.7% in the third quarter. Beacon Investment Advisory Services Inc. now owns 56,241 shares of the company’s stock valued at $35,932,000 after purchasing an additional 7,616 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insiders Place Their Bets

In other IDEXX Laboratories 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 transaction, the executive vice president directly 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.98% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Stock Down 0.9%

IDXX opened at $670.46 on Friday. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $769.98. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 1.18. The stock has a market capitalization of $53.54 billion, a P/E ratio of 53.17, a price-to-earnings-growth ratio of 3.61 and a beta of 1.67. The business’s 50-day simple moving average is $705.35 and its 200-day simple moving average is $660.81.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, November 3rd. The company reported $3.22 earnings per share (EPS) for the quarter, topping 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 firm’s quarterly 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. Analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IDXX. Leerink Partners set a $785.00 target price on shares of IDEXX Laboratories in a report on Monday, November 3rd. UBS Group increased 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. Stifel Nicolaus set a $775.00 price target on IDEXX Laboratories in a report on Monday, November 3rd. BTIG Research lifted their price objective on IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings lowered shares of IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $763.50.

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.