Brown Advisory Inc. Sells 10,408 Shares of IDEXX Laboratories, Inc. $IDXX

Brown Advisory Inc. lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,761 shares of the company’s stock after selling 10,408 shares during the period. Brown Advisory Inc. owned approximately 0.14% of IDEXX Laboratories worth $58,333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Arkadios Wealth Advisors bought a new position in IDEXX Laboratories during the second quarter valued at $405,000. Plato Investment Management Ltd lifted its holdings in shares of IDEXX Laboratories by 37.1% in the 1st quarter. Plato Investment Management Ltd now owns 3,087 shares of the company’s stock worth $1,310,000 after acquiring an additional 835 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new position in shares of IDEXX Laboratories during the 2nd quarter worth about $415,000. Genesis Wealth Advisors LLC bought a new position in IDEXX Laboratories during the 2nd quarter valued at about $215,000. Finally, ORG Wealth Partners LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter worth about $273,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on IDXX shares. BTIG Research raised their price objective on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Morgan Stanley raised their price target on IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Leerink Partners set a $785.00 price objective on IDEXX Laboratories in a research report on Monday, November 3rd. Weiss Ratings upgraded IDEXX Laboratories from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Finally, UBS Group boosted their target price 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. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $730.50.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $714.10 on Friday. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $769.98. The stock has a market capitalization of $57.02 billion, a price-to-earnings ratio of 56.63, a P/E/G ratio of 4.28 and a beta of 1.67. The stock has a fifty day simple moving average of $675.94 and a two-hundred day simple moving average of $612.34. 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 announced its quarterly earnings results on Monday, November 3rd. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $3.14 by $0.08. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. IDEXX Laboratories had a return on equity of 67.78% and a net margin of 24.65%.The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. On average, analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Nimrata Hunt sold 9,425 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were 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 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 SEC, which can be accessed through this hyperlink. Company insiders own 0.98% of the company’s stock.

IDEXX Laboratories 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.