Birchbrook Inc. Has $2.55 Million Position in IDEXX Laboratories, Inc. $IDXX

Birchbrook Inc. lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 19.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,748 shares of the company’s stock after selling 1,145 shares during the quarter. IDEXX Laboratories comprises 1.4% of Birchbrook Inc.’s portfolio, making the stock its 15th largest holding. Birchbrook Inc.’s holdings in IDEXX Laboratories were worth $2,547,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in IDEXX Laboratories by 156.2% in the 2nd 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. Price T Rowe Associates Inc. MD boosted its holdings in IDEXX Laboratories by 71.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company’s stock valued at $835,244,000 after acquiring an additional 825,965 shares during the period. Generation Investment Management LLP acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at about $304,277,000. Select Equity Group L.P. bought a new position in shares of IDEXX Laboratories in the first quarter worth about $194,834,000. Finally, Nuveen LLC bought a new position in shares of IDEXX Laboratories in the first quarter worth about $179,784,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $670.21 on Wednesday. The firm has a market capitalization of $53.52 billion, a price-to-earnings ratio of 55.80, a PEG ratio of 4.06 and a beta of 1.62. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $735.00. The business has a fifty day simple moving average of $652.36 and a 200 day simple moving average of $592.66. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.08. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company earned $2.80 earnings per share. The business’s revenue 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. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Jefferies Financial Group restated a “buy” rating and set a $830.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, November 4th. Stifel Nicolaus set a $775.00 price objective on IDEXX Laboratories in a research report on Monday, November 3rd. JPMorgan Chase & Co. raised their price objective on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Leerink Partners set a $785.00 target price on shares of IDEXX Laboratories in a research note on Monday, November 3rd. Finally, Weiss Ratings lowered shares of IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $730.50.

Insider Transactions at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 9,425 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $703.34, for a total value of $6,628,979.50. Following the completion of the transaction, the executive vice president owned 21,149 shares of the company’s stock, valued at $14,874,937.66. This represents a 30.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director M Anne Szostak sold 2,187 shares of the firm’s stock in a transaction dated 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 owned 262 shares of the company’s stock, valued at approximately $169,600.46. This represents a 89.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.98% of the company’s stock.

About IDEXX Laboratories

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.