Ritholtz Wealth Management Acquires 7,773 Shares of IDEXX Laboratories, Inc. $IDXX

Ritholtz Wealth Management grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 852.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,685 shares of the company’s stock after buying an additional 7,773 shares during the period. Ritholtz Wealth Management’s holdings in IDEXX Laboratories were worth $5,549,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of IDXX. Opal Wealth Advisors LLC bought a new position in IDEXX Laboratories during the second quarter worth $29,000. WealthCollab LLC acquired a new position in shares of IDEXX Laboratories during the second quarter valued at about $30,000. Armstrong Advisory Group Inc. boosted 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 bought a new position in shares of IDEXX Laboratories during the 3rd quarter worth about $35,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at about $36,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX opened at $712.12 on Friday. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $769.98. 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 company has a market capitalization of $56.86 billion, a price-to-earnings ratio of 56.47, a P/E/G ratio of 3.80 and a beta of 1.67. The firm’s fifty day moving average price is $706.58 and its two-hundred day moving average price is $648.21.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Monday, November 3rd. The company reported $3.22 EPS for the quarter, beating 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 24.65% and a return on equity of 67.78%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. As a group, analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on IDXX shares. BTIG Research upped their price target on IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Stifel Nicolaus set a $775.00 price objective on IDEXX Laboratories in a report on Monday, November 3rd. UBS Group increased 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. Wall Street Zen raised shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Finally, Jefferies Financial Group restated a “buy” rating and set a $830.00 price objective on shares of IDEXX Laboratories in a 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $763.50.

Insider Activity at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 9,425 shares of IDEXX Laboratories 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.98% of the company’s stock.

IDEXX Laboratories 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.