IDEXX Laboratories, Inc. $IDXX Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 41.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,056,680 shares of the company’s stock after buying an additional 605,290 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.57% of IDEXX Laboratories worth $1,313,992,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in IDXX. Geode Capital Management LLC raised its stake in shares of IDEXX Laboratories by 2.3% in the 2nd 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. William Blair Investment Management LLC raised its stake in IDEXX Laboratories by 7.5% during the second 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 lifted its holdings in IDEXX Laboratories by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 648,626 shares of the company’s stock worth $347,884,000 after buying an additional 11,768 shares during the last quarter. Franklin Resources Inc. grew its position in shares of IDEXX Laboratories by 6.9% in the 2nd 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 in the last quarter. Finally, Select Equity Group L.P. increased its holdings in shares of IDEXX Laboratories by 23.7% in the 2nd quarter. Select Equity Group L.P. now owns 573,713 shares of the company’s stock valued at $307,705,000 after acquiring an additional 109,767 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays initiated coverage on IDEXX Laboratories in a research note on Monday, December 8th. They set an “overweight” rating and a $850.00 price objective on the stock. JPMorgan Chase & Co. raised their price target on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Stifel Nicolaus set a $775.00 price objective on shares of IDEXX Laboratories in a research report on Monday, November 3rd. Leerink Partners set a $785.00 price objective on shares of IDEXX Laboratories in a research note on Monday, November 3rd. Finally, BTIG Research lifted their target price on IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $763.50.

Insider Activity at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $703.34, for a total transaction of $6,628,979.50. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.98% of the company’s stock.

IDEXX Laboratories Stock Performance

IDXX opened at $694.75 on Wednesday. The business has a 50 day moving average price of $706.90 and a two-hundred day moving average price of $658.58. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.18 and a quick ratio of 0.87. The company has a market capitalization of $55.48 billion, a price-to-earnings ratio of 55.10, a price-to-earnings-growth ratio of 3.73 and a beta of 1.67. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, November 3rd. The company reported $3.22 EPS for the quarter, topping the consensus estimate of $3.14 by $0.08. IDEXX Laboratories had a net margin of 24.65% and a return on equity of 67.78%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the business earned $2.80 earnings per share. IDEXX Laboratories’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. Research analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS 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.