Advisors Asset Management Inc. Cuts Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Advisors Asset Management Inc. lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 24.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,446 shares of the company’s stock after selling 793 shares during the period. Advisors Asset Management Inc.’s holdings in IDEXX Laboratories were worth $1,312,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IDXX. Bank of New York Mellon Corp boosted its stake in shares of IDEXX Laboratories by 156.2% in the second quarter. Bank of New York Mellon Corp now owns 1,451,390 shares of the company’s stock valued at $778,439,000 after buying an additional 884,808 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of IDEXX Laboratories by 71.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company’s stock worth $835,244,000 after purchasing an additional 825,965 shares in the last quarter. Generation Investment Management LLP acquired a new position in shares of IDEXX Laboratories during the 2nd quarter worth $304,277,000. Select Equity Group L.P. acquired a new position in shares of IDEXX Laboratories during the 1st quarter worth $194,834,000. Finally, Nuveen LLC purchased a new position in shares of IDEXX Laboratories in the 1st quarter valued at about $179,784,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

IDXX has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of IDEXX Laboratories in a report on Tuesday, November 25th. Stifel Nicolaus set a $775.00 price target on IDEXX Laboratories in a report on Monday, November 3rd. Leerink Partners set a $785.00 price objective on IDEXX Laboratories in a research note on Monday, November 3rd. UBS Group boosted their target price on IDEXX Laboratories from $710.00 to $750.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. raised their price target on IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $730.50.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction dated 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 sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $753.05 on Monday. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $769.98. The firm has a 50 day simple moving average of $666.95 and a 200-day simple moving average of $606.40. The firm has a market cap of $60.13 billion, a PE ratio of 62.70, a P/E/G ratio of 4.06 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Monday, November 3rd. The company reported $3.22 EPS for the quarter, topping the consensus estimate of $3.14 by $0.08. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. 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 EPS. IDEXX Laboratories’s revenue for the quarter was up 13.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. On average, equities analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.