Allstate Corp Invests $1.88 Million in IDEXX Laboratories, Inc. $IDXX

Allstate Corp bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,937 shares of the company’s stock, valued at approximately $1,876,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in shares of IDEXX Laboratories during the 2nd quarter worth about $29,000. WealthCollab LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at about $30,000. J.Safra Asset Management Corp bought a new stake in IDEXX Laboratories during the third quarter worth about $31,000. Armstrong Advisory Group Inc. boosted its position in IDEXX Laboratories by 55.9% during the third quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock valued at $34,000 after purchasing an additional 19 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new position in IDEXX Laboratories during the third quarter valued at approximately $35,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Down 4.1%

Shares of IDEXX Laboratories stock opened at $686.02 on Wednesday. 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 12-month low of $356.14 and a 12-month high of $769.98. The company has a market capitalization of $54.78 billion, a price-to-earnings ratio of 54.40, a PEG ratio of 3.83 and a beta of 1.67. The firm’s 50-day moving average price is $706.30 and its two-hundred day moving average price is $653.13.

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

Insiders Place Their Bets

In other IDEXX Laboratories 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 value of $6,628,979.50. Following the sale, the executive vice president 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.98% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley boosted 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. Weiss Ratings raised shares of IDEXX Laboratories from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. JPMorgan Chase & Co. upped 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. BTIG Research boosted their price objective on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $763.50.

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.