Coalescence Partners Investment Management LP Sells 19,147 Shares of IDEXX Laboratories, Inc. $IDXX

Coalescence Partners Investment Management LP decreased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 50.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,559 shares of the company’s stock after selling 19,147 shares during the quarter. IDEXX Laboratories accounts for 3.1% of Coalescence Partners Investment Management LP’s portfolio, making the stock its 12th biggest holding. Coalescence Partners Investment Management LP’s holdings in IDEXX Laboratories were worth $11,857,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in IDEXX Laboratories by 2.3% during the second quarter. Geode Capital Management LLC now owns 2,464,290 shares of the company’s stock valued at $1,317,875,000 after purchasing an additional 54,402 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of IDEXX Laboratories by 156.2% during 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 in the last quarter. William Blair Investment Management LLC raised its position in shares of IDEXX Laboratories by 7.5% during the 2nd quarter. William Blair Investment Management LLC now owns 685,088 shares of the company’s stock valued at $367,440,000 after buying an additional 47,977 shares in the last quarter. Legal & General Group Plc grew its position in IDEXX Laboratories by 1.8% in the second quarter. Legal & General Group Plc now owns 648,626 shares of the company’s stock worth $347,884,000 after acquiring an additional 11,768 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in IDEXX Laboratories by 6.9% during the second quarter. Franklin Resources Inc. now owns 592,649 shares of the company’s stock worth $317,862,000 after acquiring an additional 38,202 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Insider Activity

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 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 owned 21,149 shares in the company, valued at $14,874,937.66. The trade was a 30.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Trading Down 4.1%

Shares of NASDAQ:IDXX opened at $686.02 on Wednesday. The company has a market capitalization of $54.78 billion, a PE ratio of 54.40, a P/E/G ratio of 3.83 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 12-month low of $356.14 and a 12-month high of $769.98. The business’s fifty day simple moving average is $706.30 and its 200-day simple moving average is $653.13.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IDXX shares. Wall Street Zen lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Saturday. Jefferies Financial Group reaffirmed a “buy” rating and set a $830.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, November 4th. JPMorgan Chase & Co. boosted their price objective on IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Stifel Nicolaus set a $775.00 price objective on shares of IDEXX Laboratories in a report on Monday, November 3rd. Finally, Barclays started coverage on IDEXX Laboratories in a report on Monday, December 8th. They issued an “overweight” rating and a $850.00 target price for the company. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $763.50.

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.