Voya Investment Management LLC Sells 34,523 Shares of IDEXX Laboratories, Inc. $IDXX

Voya Investment Management LLC reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 23.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 114,169 shares of the company’s stock after selling 34,523 shares during the period. Voya Investment Management LLC’s holdings in IDEXX Laboratories were worth $72,941,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. increased its position in IDEXX Laboratories by 55.9% during the third quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock worth $34,000 after acquiring an additional 19 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at about $29,000. WealthCollab LLC acquired a new position in shares of IDEXX Laboratories in the 2nd quarter worth approximately $30,000. Ameritas Advisory Services LLC acquired a new position in IDEXX Laboratories during the second quarter worth $36,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of IDEXX Laboratories during the second quarter worth approximately $36,000. 87.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on IDXX shares. UBS Group upped their price target on shares of IDEXX Laboratories from $710.00 to $750.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Leerink Partners set a $785.00 target price on shares of IDEXX Laboratories in a research note on Monday, November 3rd. JPMorgan Chase & Co. boosted their price target on IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Wall Street Zen cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 29th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of IDEXX Laboratories in a report on Monday. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $763.50.

IDEXX Laboratories Stock Up 0.5%

IDXX stock opened at $700.34 on Friday. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $769.98. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $55.92 billion, a P/E ratio of 55.54, a price-to-earnings-growth ratio of 4.16 and a beta of 1.67. The firm has a 50-day moving average price of $690.37 and a 200-day moving average price of $625.57.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm posted $2.80 earnings per share. The company’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. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of IDEXX Laboratories stock in a transaction dated 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 directly owned 21,149 shares of the company’s stock, valued at approximately $14,874,937.66. The trade was a 30.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is currently owned by corporate insiders.

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.