IDEXX Laboratories, Inc. $IDXX Stock Position Cut by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 200,480 shares of the company’s stock after selling 1,438 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of IDEXX Laboratories worth $128,085,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of IDEXX Laboratories during the second quarter valued at approximately $29,000. WealthCollab LLC bought a new position in IDEXX Laboratories during the 2nd quarter valued at $30,000. Armstrong Advisory Group Inc. increased 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 valued at $34,000 after purchasing an additional 19 shares during the period. Salomon & Ludwin LLC bought a new stake in shares of IDEXX Laboratories in the 3rd quarter worth $35,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at $36,000. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Down 1.5%

IDXX stock opened at $714.04 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.18 and a quick ratio of 0.87. The firm has a market capitalization of $57.02 billion, a P/E ratio of 56.62, a P/E/G ratio of 3.88 and a beta of 1.67. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $769.98. The company’s 50 day simple moving average is $706.80 and its 200-day simple moving average is $647.32.

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 24.65% and a return on equity of 67.78%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company posted $2.80 EPS. The company’s quarterly 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. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analyst Upgrades and Downgrades

IDXX has been the topic of a number of research analyst reports. Weiss Ratings raised IDEXX Laboratories from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. BTIG Research boosted their target price on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Barclays initiated coverage on shares of IDEXX Laboratories in a research note on Monday, December 8th. They set an “overweight” rating and a $850.00 target price for the company. 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. Finally, JPMorgan Chase & Co. increased their price objective on IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $763.50.

Insiders Place Their Bets

In related news, EVP Nimrata Hunt sold 9,425 shares of the stock in a transaction dated Friday, November 7th. The stock was 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 of the company’s stock, valued at approximately $14,874,937.66. This represents a 30.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

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.