Mediolanum International Funds Ltd Raises Holdings in IDEXX Laboratories, Inc. $IDXX

Mediolanum International Funds Ltd lifted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 14.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,761 shares of the company’s stock after purchasing an additional 4,909 shares during the quarter. Mediolanum International Funds Ltd’s holdings in IDEXX Laboratories were worth $24,441,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in shares of IDEXX Laboratories by 156.2% during 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 buying an additional 884,808 shares during the last quarter. Generation Investment Management LLP acquired a new stake in IDEXX Laboratories during the 2nd quarter worth about $304,277,000. Norges Bank purchased a new stake in IDEXX Laboratories during the 2nd quarter valued at about $221,955,000. Schroder Investment Management Group increased its holdings in shares of IDEXX Laboratories by 295.1% in the second quarter. Schroder Investment Management Group now owns 315,785 shares of the company’s stock valued at $169,368,000 after purchasing an additional 235,863 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of IDEXX Laboratories by 16.7% in the third quarter. Principal Financial Group Inc. now owns 1,315,722 shares of the company’s stock worth $840,638,000 after purchasing an additional 187,967 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 0.9%

IDXX opened at $670.46 on Friday. The company has a fifty day moving average of $705.35 and a two-hundred day moving average of $660.81. The stock has a market capitalization of $53.54 billion, a price-to-earnings ratio of 53.17, a PEG ratio of 3.61 and a beta of 1.67. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $769.98. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 1.18.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.08. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. IDEXX Laboratories had a return on equity of 67.78% and a net margin of 24.65%.IDEXX Laboratories’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.80 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. On average, research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays assumed coverage on IDEXX Laboratories in a research report on Monday, December 8th. They issued an “overweight” rating and a $850.00 target price on the stock. Weiss Ratings downgraded shares of IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Morgan Stanley raised their target price on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. 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 report on Tuesday, November 4th. Finally, Stifel Nicolaus set a $775.00 price target on IDEXX Laboratories in a research report on Monday, November 3rd. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus target price of $763.50.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 9,425 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 21,149 shares in the company, valued at $14,874,937.66. This trade represents a 30.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories 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.