IDEXX Laboratories, Inc. $IDXX Stock Position Lowered by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,149 shares of the company’s stock after selling 976 shares during the quarter. IDEXX Laboratories accounts for approximately 0.8% of EFG Asset Management North America Corp.’s investment portfolio, making the stock its 27th largest position. EFG Asset Management North America Corp.’s holdings in IDEXX Laboratories were worth $6,483,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Blalock Williams LLC acquired a new position in IDEXX Laboratories in the third quarter worth approximately $590,000. Arkadios Wealth Advisors bought a new stake in shares of IDEXX Laboratories during the 2nd quarter worth $405,000. Orion Porfolio Solutions LLC boosted its stake in shares of IDEXX Laboratories by 116.6% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 10,718 shares of the company’s stock worth $5,749,000 after acquiring an additional 5,770 shares in the last quarter. USA Financial Formulas acquired a new position in shares of IDEXX Laboratories in the 3rd quarter worth $2,381,000. Finally, Beacon Investment Advisory Services Inc. grew its holdings in shares of IDEXX Laboratories by 15.7% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 56,241 shares of the company’s stock worth $35,932,000 after acquiring an additional 7,616 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Nimrata Hunt sold 9,425 shares of the 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 completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.98% of the company’s stock.

IDEXX Laboratories Stock Performance

IDXX stock opened at $697.82 on Tuesday. The firm has a 50 day simple moving average of $706.41 and a 200 day simple moving average of $657.44. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $769.98. The stock has a market cap of $55.72 billion, a P/E ratio of 55.34, a P/E/G ratio of 3.71 and a beta of 1.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 1.18.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Monday, November 3rd. The company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.80 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Research 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 brokerages recently weighed in on IDXX. Weiss Ratings raised IDEXX Laboratories from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Barclays initiated coverage on shares of IDEXX Laboratories in a report on Monday, December 8th. They issued an “overweight” rating and a $850.00 target price for the company. Morgan Stanley boosted their price target on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. 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, UBS Group lifted their price objective 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. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $763.50.

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.