IDEXX Laboratories, Inc. $IDXX Shares Sold by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 24.7% during the second quarter, Holdings Channel reports. The institutional investor owned 406 shares of the company’s stock after selling 133 shares during the period. Rehmann Capital Advisory Group’s holdings in IDEXX Laboratories were worth $218,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in IDXX. Price T Rowe Associates Inc. MD boosted its stake in IDEXX Laboratories by 71.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company’s stock worth $835,244,000 after buying an additional 825,965 shares during the last quarter. Select Equity Group L.P. acquired a new stake in IDEXX Laboratories in the 1st quarter worth about $194,834,000. Nuveen LLC acquired a new stake in IDEXX Laboratories in the 1st quarter worth about $179,784,000. Principal Financial Group Inc. boosted its stake in IDEXX Laboratories by 58.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company’s stock worth $472,865,000 after buying an additional 414,802 shares during the last quarter. Finally, Durable Capital Partners LP acquired a new stake in IDEXX Laboratories in the 1st quarter worth about $153,180,000. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $640.85 on Friday. The stock’s 50 day moving average price is $638.40 and its 200 day moving average price is $557.79. The firm has a market capitalization of $51.27 billion, a PE ratio of 53.36, a price-to-earnings-growth ratio of 4.13 and a beta of 1.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $3.28 by $0.35. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.IDEXX Laboratories’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Activity

In related news, Director M Anne Szostak sold 2,187 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the transaction, the director directly owned 262 shares of the company’s stock, valued at approximately $169,600.46. The trade was a 89.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Nimrata Hunt sold 7,143 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $630.43, for a total value of $4,503,161.49. Following the sale, the executive vice president owned 18,007 shares in the company, valued at $11,352,153.01. This represents a 28.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,057 shares of company stock worth $34,293,468 in the last ninety days. 0.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IDXX shares. Leerink Partners lifted their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. lifted their price objective on IDEXX Laboratories from $550.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Wall Street Zen lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 28th. Piper Sandler reaffirmed a “neutral” rating and issued a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Finally, UBS Group started coverage on IDEXX Laboratories in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $720.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $656.50.

IDEXX Laboratories Profile

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.