Wallace Advisory Group LLC Takes $766,000 Position in IDEXX Laboratories, Inc. $IDXX

Wallace Advisory Group LLC purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 1,199 shares of the company’s stock, valued at approximately $766,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Arkadios Wealth Advisors bought a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at about $405,000. Orion Porfolio Solutions LLC lifted its stake in shares of IDEXX Laboratories by 116.6% in the second 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 during the period. Plato Investment Management Ltd boosted its holdings in IDEXX Laboratories by 37.1% in the first quarter. Plato Investment Management Ltd now owns 3,087 shares of the company’s stock valued at $1,310,000 after acquiring an additional 835 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in IDEXX Laboratories during the 2nd quarter valued at approximately $415,000. Finally, Genesis Wealth Advisors LLC acquired a new stake in IDEXX Laboratories during the 2nd quarter valued at approximately $215,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Activity at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 9,425 shares of the business’s stock in a transaction that occurred 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 owned 21,149 shares in the company, valued at $14,874,937.66. The trade was a 30.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.98% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $687.94 on Friday. The firm’s 50-day moving average price is $694.64 and its 200-day moving average price is $630.17. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $769.98. The firm has a market capitalization of $54.93 billion, a P/E ratio of 54.56, a P/E/G ratio of 4.11 and a beta of 1.67. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24.

IDEXX Laboratories (NASDAQ:IDXX) last issued 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. IDEXX Laboratories had a return on equity of 67.78% and a net margin of 24.65%.The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the business posted $2.80 EPS. The firm’s revenue for the quarter 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. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IDXX has been the topic of a number of recent analyst reports. UBS Group boosted 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. Weiss Ratings cut shares of IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Barclays started coverage on IDEXX Laboratories in a report on Monday, December 8th. They set an “overweight” rating and a $850.00 price target for the company. Wall Street Zen downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 29th. Finally, Leerink Partners set a $785.00 target price on IDEXX Laboratories in a research report on Monday, November 3rd. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $763.50.

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.