Gateway Investment Advisers LLC Decreases Holdings in IDEXX Laboratories, Inc. $IDXX

Gateway Investment Advisers LLC cut its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 19.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,444 shares of the company’s stock after selling 2,595 shares during the quarter. Gateway Investment Advisers LLC’s holdings in IDEXX Laboratories were worth $6,673,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Armstrong Advisory Group Inc. boosted 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 buying an additional 19 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in IDEXX Laboratories during the 2nd quarter valued at about $29,000. Salomon & Ludwin LLC acquired a new position in IDEXX Laboratories during the third quarter worth about $35,000. WealthCollab LLC purchased a new stake in shares of IDEXX Laboratories in the second quarter valued at about $30,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $669.99 on Monday. The company has a market cap of $53.50 billion, a P/E ratio of 53.13, a P/E/G ratio of 3.58 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 52 week low of $356.14 and a 52 week high of $769.98. The business has a fifty day simple moving average of $699.69 and a 200-day simple moving average of $638.31.

IDEXX Laboratories (NASDAQ:IDXX) last released its 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. IDEXX Laboratories had a return on equity of 67.78% and a net margin of 24.65%.The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business posted $2.80 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. UBS Group lifted their price objective on IDEXX Laboratories from $710.00 to $750.00 and gave the stock a “neutral” rating in a research report 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 report on Tuesday, November 4th. BTIG Research upped their price objective on IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of IDEXX Laboratories in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average price target of $763.50.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 9,425 shares of the firm’s 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 of the company’s stock, valued at approximately $14,874,937.66. This trade represents a 30.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Company Profile

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.