IDEXX Laboratories, Inc. $IDXX Shares Sold by Brant Point Investment Management LLC

Brant Point Investment Management LLC reduced its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 11,276 shares of the company’s stock after selling 1,072 shares during the quarter. IDEXX Laboratories comprises about 0.6% of Brant Point Investment Management LLC’s holdings, making the stock its 22nd largest position. Brant Point Investment Management LLC’s holdings in IDEXX Laboratories were worth $6,048,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of IDXX. Opal Wealth Advisors LLC acquired a new position in shares of IDEXX Laboratories during the second quarter worth about $29,000. Ameritas Advisory Services LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter valued at approximately $36,000. Elevation Point Wealth Partners LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter valued at approximately $36,000. NewSquare Capital LLC increased its position in IDEXX Laboratories by 87.5% during the 2nd quarter. NewSquare Capital LLC now owns 75 shares of the company’s stock worth $40,000 after purchasing an additional 35 shares during the period. Finally, WPG Advisers LLC purchased a new position in shares of IDEXX Laboratories during the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Activity at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 9,425 shares of the stock in a transaction that occurred on 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 sale, the executive vice president directly owned 21,149 shares in the company, valued at $14,874,937.66. This represents a 30.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is owned by corporate insiders.

IDEXX Laboratories Trading Down 0.5%

Shares of IDXX stock opened at $714.10 on Monday. The stock has a market cap of $57.02 billion, a P/E ratio of 56.63, a P/E/G ratio of 4.26 and a beta of 1.67. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.24. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $769.98. The business has a fifty day simple moving average of $675.94 and a 200-day simple moving average of $613.79.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Monday, November 3rd. The company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.08. IDEXX Laboratories had a net margin of 24.65% and a return on equity of 67.78%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company earned $2.80 EPS. The firm’s revenue 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, analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

IDXX has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Wall Street Zen downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 29th. UBS Group boosted their target price on shares of IDEXX Laboratories from $710.00 to $750.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a report on Monday, November 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $830.00 price objective on shares of IDEXX Laboratories in a research note on Tuesday, November 4th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $730.50.

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.