Resona Asset Management Co. Ltd. Sells 1,695 Shares of IDEXX Laboratories, Inc. $IDXX

Resona Asset Management Co. Ltd. lessened its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,384 shares of the company’s stock after selling 1,695 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in IDEXX Laboratories were worth $16,820,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. WealthCollab LLC bought a new stake in IDEXX Laboratories during the second quarter valued at approximately $30,000. J.Safra Asset Management Corp bought a new position in shares of IDEXX Laboratories in the 3rd quarter worth $31,000. Armstrong Advisory Group Inc. raised 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 valued at $34,000 after buying an additional 19 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in shares of IDEXX Laboratories during the 3rd quarter worth $35,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter worth $36,000. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Up 0.4%

Shares of NASDAQ IDXX opened at $693.85 on Monday. The firm’s fifty day moving average is $705.83 and its 200 day moving average is $656.34. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $769.98. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.24. The company has a market cap of $55.40 billion, a price-to-earnings ratio of 55.02, a PEG ratio of 3.71 and a beta of 1.67.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.08. IDEXX Laboratories had a net margin of 24.65% and a return on equity of 67.78%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the company 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. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays started coverage on IDEXX Laboratories in a research note on Monday, December 8th. They issued an “overweight” rating and a $850.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Morgan Stanley raised their price objective on IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. BTIG Research upped their target price on IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a research report on Monday, November 3rd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $763.50.

Insider Activity

In related news, EVP Nimrata Hunt sold 9,425 shares of the business’s 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 owned 21,149 shares in the company, valued at $14,874,937.66. The trade was a 30.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is owned by insiders.

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.