Truist Financial Corp Decreases Stake in IDEXX Laboratories, Inc. $IDXX

Truist Financial Corp lessened its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 14.6% in the third quarter, Holdings Channel reports. The firm owned 22,591 shares of the company’s stock after selling 3,863 shares during the period. Truist Financial Corp’s holdings in IDEXX Laboratories were worth $14,433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IDXX. J. Safra Sarasin Holding AG increased its position in shares of IDEXX Laboratories by 17.5% in the third quarter. J. Safra Sarasin Holding AG now owns 4,241 shares of the company’s stock worth $2,710,000 after acquiring an additional 631 shares in the last quarter. Riverwater Partners LLC acquired a new stake in IDEXX Laboratories in the 3rd quarter valued at $226,000. Purkiss Capital Advisors LLC purchased a new position in IDEXX Laboratories in the third quarter valued at about $206,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of IDEXX Laboratories by 7.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 15,184 shares of the company’s stock worth $9,703,000 after purchasing an additional 994 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of IDEXX Laboratories by 29.2% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 947 shares of the company’s stock worth $598,000 after purchasing an additional 214 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Price Performance

IDXX opened at $670.46 on Friday. The company has a market capitalization of $53.54 billion, a P/E ratio of 53.17, a PEG ratio of 3.61 and a beta of 1.67. The company has a 50-day moving average of $705.35 and a 200-day moving average of $660.81. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 1.18. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, November 3rd. The company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.08. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.07 billion. IDEXX Laboratories had a return on equity of 67.78% and a net margin of 24.65%.The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Equities analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IDXX. Leerink Partners set a $785.00 target price on IDEXX Laboratories in a report on Monday, November 3rd. UBS Group lifted their price objective 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. Weiss Ratings downgraded shares of IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Barclays began coverage on shares of IDEXX Laboratories in a report on Monday, December 8th. They set an “overweight” rating and a $850.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.