IDEXX Laboratories, Inc. $IDXX Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 14.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,591 shares of the company’s stock after selling 3,863 shares during the quarter. Truist Financial Corp’s holdings in IDEXX Laboratories were worth $14,433,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. WealthCollab LLC purchased a new stake in IDEXX Laboratories during the second quarter worth $30,000. J.Safra Asset Management Corp acquired a new position in shares of IDEXX Laboratories during the 3rd quarter worth $31,000. 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. Salomon & Ludwin LLC acquired a new stake in IDEXX Laboratories in the 3rd quarter valued at about $35,000. Finally, Ameritas Advisory Services LLC purchased a new position in IDEXX Laboratories during the 2nd quarter valued at about $36,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on IDXX. Barclays began coverage on shares of IDEXX Laboratories in a research report on Monday, December 8th. They issued an “overweight” rating and a $850.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $830.00 target price on shares of IDEXX Laboratories in a report on Tuesday, November 4th. Leerink Partners set a $785.00 price target on IDEXX Laboratories in a research report on Monday, November 3rd. Stifel Nicolaus set a $775.00 price objective on IDEXX Laboratories in a research report on Monday, November 3rd. Finally, UBS Group increased their price objective on IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $763.50.

IDEXX Laboratories Stock Down 0.9%

Shares of NASDAQ:IDXX opened at $670.46 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. The firm has a market cap of $53.54 billion, a price-to-earnings ratio of 53.17, a PEG ratio of 3.61 and a beta of 1.67. The stock’s 50-day moving average price is $705.35 and its two-hundred day moving average price is $660.81. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $769.98.

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

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 9,425 shares of the business’s stock in a transaction 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 sale, the executive vice president directly owned 21,149 shares of the company’s stock, valued at $14,874,937.66. The trade was a 30.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is currently owned by company insiders.

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.