Chapin Davis Inc. Invests $5.07 Million in IDEXX Laboratories, Inc. $IDXX

Chapin Davis Inc. purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,934 shares of the company’s stock, valued at approximately $5,069,000. IDEXX Laboratories makes up about 1.2% of Chapin Davis Inc.’s investment portfolio, making the stock its 19th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. grew its position in shares of IDEXX Laboratories by 55.9% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock worth $34,000 after acquiring an additional 19 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in IDEXX Laboratories during the second quarter worth $29,000. WealthCollab LLC acquired a new position in IDEXX Laboratories in the second quarter worth $30,000. Ameritas Advisory Services LLC bought a new stake in IDEXX Laboratories during the second quarter valued at $36,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of IDEXX Laboratories during the second quarter worth $36,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IDXX. Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a report on Monday, November 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of IDEXX Laboratories in a report on Monday. Barclays initiated coverage on IDEXX Laboratories in a report on Monday, December 8th. They set an “overweight” rating and a $850.00 target price for the company. Jefferies Financial Group reiterated a “buy” rating and set a $830.00 price target on shares of IDEXX Laboratories in a research report on Tuesday, November 4th. Finally, UBS Group boosted their price objective on IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $763.50.

IDEXX Laboratories Stock Performance

IDXX opened at $697.10 on Friday. The business’s 50 day moving average is $688.68 and its 200-day moving average is $624.29. The stock has a market cap of $55.66 billion, a PE ratio of 55.28, a price-to-earnings-growth ratio of 4.15 and a beta of 1.67. 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, Inc. has a twelve month low of $356.14 and a twelve month high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Monday, November 3rd. The company reported $3.22 earnings per share (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 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% compared to the same quarter last year. During the same period in the prior year, the company posted $2.80 EPS. 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 earnings per share for the current year.

Insider Activity at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 9,425 shares of IDEXX Laboratories stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $703.34, for a total transaction 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. The trade was a 30.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.98% of the company’s stock.

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.