Tokio Marine Asset Management Co. Ltd. Sells 767 Shares of IDEXX Laboratories, Inc. $IDXX

Tokio Marine Asset Management Co. Ltd. trimmed its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 13.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,892 shares of the company’s stock after selling 767 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in IDEXX Laboratories were worth $3,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of IDEXX Laboratories in the second quarter valued at about $29,000. WealthCollab LLC bought a new stake in IDEXX Laboratories in the 2nd quarter valued at about $30,000. Armstrong Advisory Group Inc. grew its position in shares of IDEXX Laboratories by 55.9% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock worth $34,000 after purchasing an additional 19 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in shares of IDEXX Laboratories during the 3rd quarter worth approximately $35,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of IDEXX Laboratories during the second quarter worth approximately $36,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Buying and Selling

In related news, EVP Nimrata Hunt sold 9,425 shares of the stock in a transaction that occurred 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IDXX. Wall Street Zen raised IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of IDEXX Laboratories in a research report on Monday, December 29th. Stifel Nicolaus set a $775.00 target price on IDEXX Laboratories in a report on Monday, November 3rd. JPMorgan Chase & Co. boosted their price target on IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Finally, Leerink Partners set a $785.00 price objective on shares of IDEXX Laboratories in a research note on Monday, November 3rd. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $763.50.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $724.76 on Tuesday. The stock’s 50-day simple moving average is $706.97 and its 200 day simple moving average is $646.03. The firm has a market capitalization of $57.87 billion, a PE ratio of 57.48, a price-to-earnings-growth ratio of 3.81 and a beta of 1.67. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.24. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Monday, November 3rd. The company reported $3.22 EPS for the quarter, topping the consensus estimate of $3.14 by $0.08. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.07 billion. IDEXX Laboratories had a return on equity of 67.78% and a net margin of 24.65%.The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. On average, analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc (NASDAQ: IDXX) is a global developer, manufacturer and provider of diagnostic products and services primarily for the animal health, water testing and food safety markets. Headquartered in Westbrook, Maine, the company supplies in-clinic diagnostic instruments, consumables, reference laboratory testing and practice-management tools that support veterinarians, livestock and dairy producers, and utilities and food producers worldwide.

IDEXX’s product portfolio includes point-of-care tests and immunoassays designed for rapid diagnosis in veterinary clinics, in-clinic chemistry and hematology analyzers, automated urinalysis systems, and digital diagnostic solutions.