IDEXX Laboratories, Inc. $IDXX Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 201,918 shares of the company’s stock after buying an additional 2,528 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in IDEXX Laboratories were worth $108,297,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Stratos Wealth Partners LTD. raised its stake in shares of IDEXX Laboratories by 1.7% in the second quarter. Stratos Wealth Partners LTD. now owns 1,051 shares of the company’s stock valued at $564,000 after acquiring an additional 18 shares in the last quarter. Red Spruce Capital LLC increased its holdings in IDEXX Laboratories by 1.1% during the 2nd quarter. Red Spruce Capital LLC now owns 1,701 shares of the company’s stock worth $912,000 after purchasing an additional 19 shares during the period. Phoenix Financial Ltd. increased its holdings in IDEXX Laboratories by 1.7% during the 2nd quarter. Phoenix Financial Ltd. now owns 1,181 shares of the company’s stock worth $633,000 after purchasing an additional 20 shares during the period. Rise Advisors LLC raised its position in IDEXX Laboratories by 3.9% in the 2nd quarter. Rise Advisors LLC now owns 562 shares of the company’s stock valued at $301,000 after purchasing an additional 21 shares in the last quarter. Finally, Harbour Investments Inc. boosted its stake in shares of IDEXX Laboratories by 27.3% in the 2nd quarter. Harbour Investments Inc. now owns 98 shares of the company’s stock valued at $53,000 after buying an additional 21 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Activity at IDEXX Laboratories

In related news, EVP Michael G. Erickson sold 406 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $649.96, for a total value of $263,883.76. Following the completion of the sale, the executive vice president directly owned 11,287 shares in the company, valued at approximately $7,336,098.52. This represents a 3.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the sale, the executive vice president owned 7,132 shares in the company, valued at $4,477,041.68. This represents a 54.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,057 shares of company stock valued at $34,293,468 over the last quarter. Company insiders own 0.98% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $640.85 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12. The company has a market capitalization of $51.27 billion, a P/E ratio of 53.36, a price-to-earnings-growth ratio of 4.15 and a beta of 1.58. The firm has a 50-day moving average price of $638.40 and a two-hundred day moving average price of $559.16.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.35. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

IDXX has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of IDEXX Laboratories in a research note on Saturday. BTIG Research upped their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. UBS Group began coverage on shares of IDEXX Laboratories in a report on Wednesday, October 1st. They set a “neutral” rating and a $720.00 price objective on the stock. Wall Street Zen cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 28th. Finally, Morgan Stanley increased their target price on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an “overweight” rating in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $656.50.

IDEXX Laboratories Company 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.