Corient Private Wealth LLC Sells 3,030 Shares of IDEXX Laboratories, Inc. $IDXX

Corient Private Wealth LLC lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,474 shares of the company’s stock after selling 3,030 shares during the quarter. Corient Private Wealth LLC owned about 0.15% of IDEXX Laboratories worth $63,006,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of IDXX. Bank of New York Mellon Corp increased its stake in shares of IDEXX Laboratories by 156.2% in the 2nd 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 during the period. Price T Rowe Associates Inc. MD boosted its holdings in IDEXX Laboratories by 71.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company’s stock valued at $835,244,000 after acquiring an additional 825,965 shares during the last quarter. Generation Investment Management LLP acquired a new stake in IDEXX Laboratories in the second quarter worth about $304,277,000. Select Equity Group L.P. bought a new stake in IDEXX Laboratories during the 1st quarter worth about $194,834,000. Finally, Norges Bank bought a new stake in IDEXX Laboratories during the 2nd quarter worth about $221,955,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Down 0.5%

Shares of NASDAQ IDXX opened at $700.55 on Tuesday. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $769.98. The stock has a market cap of $55.94 billion, a price-to-earnings ratio of 55.56, a P/E/G ratio of 4.20 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. The company’s fifty day moving average is $684.69 and its 200-day moving average is $622.00.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Monday, November 3rd. The company reported $3.22 EPS for the quarter, topping the consensus estimate of $3.14 by $0.08. The business had revenue of $1.11 billion for 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 firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.80 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Equities research analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Activity at IDEXX Laboratories

In related 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Barclays started coverage on shares of IDEXX Laboratories in a research note on Monday, December 8th. They issued an “overweight” rating and a $850.00 target price on the stock. Morgan Stanley lifted their target price on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of IDEXX Laboratories in a research report on Monday, December 8th. JPMorgan Chase & Co. raised their price target on IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Finally, Leerink Partners set a $785.00 price objective on IDEXX Laboratories in a research note on Monday, November 3rd. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $763.50.

About IDEXX Laboratories

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.