Prudential Financial Inc. Acquires 20,670 Shares of IDEXX Laboratories, Inc. $IDXX

Prudential Financial Inc. raised its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 48.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,121 shares of the company’s stock after purchasing an additional 20,670 shares during the quarter. Prudential Financial Inc.’s holdings in IDEXX Laboratories were worth $33,854,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

IDXX has been the topic of several analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $830.00 target price on shares of IDEXX Laboratories in a report on Tuesday, November 4th. Piper Sandler reaffirmed a “neutral” rating and set a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Stifel Nicolaus set a $775.00 target price on shares of IDEXX Laboratories in a research note on Monday, November 3rd. UBS Group boosted their target price on IDEXX Laboratories from $710.00 to $750.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Finally, Morgan Stanley increased 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. One 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $730.50.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $752.14 on Tuesday. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $759.33. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $658.28 and its 200-day moving average is $599.27. The firm has a market capitalization of $60.06 billion, a price-to-earnings ratio of 62.63, a PEG ratio of 4.06 and a beta of 1.62.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company posted $2.80 EPS. IDEXX Laboratories’s revenue was up 13.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 9,425 shares of the company’s stock in a transaction on 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.98% of the stock is currently owned by insiders.

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.