DAVENPORT & Co LLC Decreases Stock Position in IDEXX Laboratories, Inc. $IDXX

DAVENPORT & Co LLC lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 18.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,190 shares of the company’s stock after selling 1,159 shares during the period. DAVENPORT & Co LLC’s holdings in IDEXX Laboratories were worth $3,316,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in 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 purchasing an additional 884,808 shares during the last quarter. Generation Investment Management LLP bought a new stake in IDEXX Laboratories during the 2nd quarter valued at $304,277,000. Select Equity Group L.P. purchased a new stake in IDEXX Laboratories during the 1st quarter valued at $194,834,000. Norges Bank purchased a new stake in IDEXX Laboratories during the 2nd quarter valued at $221,955,000. Finally, Durable Capital Partners LP bought a new stake in IDEXX Laboratories in the 1st quarter worth $153,180,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 completion of the transaction, the executive vice president directly owned 21,149 shares of the company’s stock, valued at $14,874,937.66. This trade represents a 30.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.98% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on IDXX shares. Wall Street Zen lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 29th. Jefferies Financial Group reiterated a “buy” rating and issued a $830.00 price objective on shares of IDEXX Laboratories in a research report on Tuesday, November 4th. Stifel Nicolaus set a $775.00 target price on IDEXX Laboratories in a research note on Monday, November 3rd. Weiss Ratings downgraded IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Finally, Barclays began coverage on IDEXX Laboratories in a research note on Monday, December 8th. They issued an “overweight” rating and a $850.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average target price of $763.50.

IDEXX Laboratories Trading Up 0.0%

IDXX opened at $688.48 on Friday. The stock has a market cap of $54.98 billion, a PE ratio of 54.60, a PEG ratio of 4.11 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 business has a 50 day moving average of $695.70 and a 200-day moving average of $631.35. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.08. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.80 earnings per share. 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 earnings per share for the current fiscal year.

About IDEXX Laboratories

IDEXX Laboratories, Inc (NASDAQ: IDXX) is a global developer, manufacturer and provider of diagnostic products and services primarily for the animal health, water testing and food safety markets. Headquartered in Westbrook, Maine, the company supplies in-clinic diagnostic instruments, consumables, reference laboratory testing and practice-management tools that support veterinarians, livestock and dairy producers, and utilities and food producers worldwide.

IDEXX’s product portfolio includes point-of-care tests and immunoassays designed for rapid diagnosis in veterinary clinics, in-clinic chemistry and hematology analyzers, automated urinalysis systems, and digital diagnostic solutions.