Citizens Financial Group Inc. RI Boosts Holdings in IDEXX Laboratories, Inc. $IDXX

Citizens Financial Group Inc. RI boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 53.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,608 shares of the company’s stock after purchasing an additional 558 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in IDEXX Laboratories were worth $863,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in 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 acquiring an additional 884,808 shares in the last quarter. Price T Rowe Associates Inc. MD lifted 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 purchasing an additional 825,965 shares in the last quarter. Generation Investment Management LLP bought a new position in shares of IDEXX Laboratories during the 2nd quarter valued at about $304,277,000. Select Equity Group L.P. purchased a new position in shares of IDEXX Laboratories during the first quarter valued at about $194,834,000. Finally, Nuveen LLC bought a new stake in shares of IDEXX Laboratories in the first quarter worth about $179,784,000. Institutional investors own 87.84% of the company’s stock.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 2,187 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were 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 in the company, valued at $169,600.46. The trade was a 89.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president owned 21,149 shares of the company’s stock, valued at $14,874,937.66. This trade represents a 30.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on IDXX shares. Leerink Partners set a $785.00 price target on IDEXX Laboratories in a report on Monday, November 3rd. Morgan Stanley increased their target price on IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Jefferies Financial Group restated a “buy” rating and issued a $830.00 price target on shares of IDEXX Laboratories in a research report on Tuesday, November 4th. UBS Group increased their price objective on shares of IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Finally, BTIG Research lifted 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $730.50.

IDEXX Laboratories Trading Up 0.2%

Shares of IDXX stock opened at $670.21 on Wednesday. The company has a market cap of $53.52 billion, a PE ratio of 55.80, a price-to-earnings-growth ratio of 4.06 and a beta of 1.62. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $735.00. The stock’s 50 day simple moving average is $652.36 and its two-hundred day simple moving average is $592.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Monday, November 3rd. The company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.08. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.07 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The company’s quarterly revenue was up 13.3% on a year-over-year basis. 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. Research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

IDEXX Laboratories Company 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.