Journey Strategic Wealth LLC Takes $255,000 Position in IDEXX Laboratories, Inc. $IDXX

Journey Strategic Wealth LLC acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 475 shares of the company’s stock, valued at approximately $255,000.

Several other hedge funds have also added to or reduced their stakes in IDXX. Opal Wealth Advisors LLC acquired a new position in IDEXX Laboratories in the 2nd quarter valued at approximately $29,000. Ameritas Advisory Services LLC bought a new stake in shares of IDEXX Laboratories in the second quarter worth $36,000. WPG Advisers LLC bought a new stake in shares of IDEXX Laboratories in the first quarter worth $37,000. Bank of Jackson Hole Trust increased its holdings in IDEXX Laboratories by 328.6% in the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company’s stock valued at $39,000 after purchasing an additional 69 shares during the period. Finally, NewSquare Capital LLC raised its position in IDEXX Laboratories by 87.5% during the 2nd quarter. NewSquare Capital LLC now owns 75 shares of the company’s stock worth $40,000 after purchasing an additional 35 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of IDEXX Laboratories in a research report on Wednesday, November 19th. Piper Sandler restated a “neutral” rating and set a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. UBS Group upped their target price on IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Stifel Nicolaus set a $775.00 target price on shares of IDEXX Laboratories in a research report on Monday, November 3rd. Finally, Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $730.50.

IDEXX Laboratories Trading Up 3.6%

Shares of IDXX stock opened at $752.14 on Tuesday. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $759.33. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The stock has a 50 day simple moving average of $658.28 and a two-hundred day simple moving average of $599.27. The company has a market cap of $60.06 billion, a P/E ratio of 62.63, a PEG ratio of 4.06 and a beta of 1.62.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, November 3rd. The company reported $3.22 EPS for the quarter, topping the consensus estimate of $3.14 by $0.08. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.07 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.80 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Buying and Selling

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 shares were sold at an average price of $703.34, for a total value of $6,628,979.50. Following the completion of the sale, the executive vice president directly owned 21,149 shares in the company, valued at approximately $14,874,937.66. This trade represents a 30.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.98% of the company’s stock.

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.