Nomura Asset Management Co. Ltd. Boosts Position in IDEXX Laboratories, Inc. $IDXX

Nomura Asset Management Co. Ltd. grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,561 shares of the company’s stock after buying an additional 1,665 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in IDEXX Laboratories were worth $32,481,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of IDXX. Opal Wealth Advisors LLC purchased a new position in IDEXX Laboratories during the second quarter valued at approximately $29,000. Ameritas Advisory Services LLC bought a new position in IDEXX Laboratories in the 2nd quarter valued at $36,000. WPG Advisers LLC purchased a new position in shares of IDEXX Laboratories during the 1st quarter valued at $37,000. Bank of Jackson Hole Trust increased its holdings in shares of IDEXX Laboratories by 328.6% in the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company’s stock worth $39,000 after purchasing an additional 69 shares during the period. Finally, NewSquare Capital LLC raised its position in shares of IDEXX Laboratories by 87.5% in the second quarter. NewSquare Capital LLC now owns 75 shares of the company’s stock worth $40,000 after buying an additional 35 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 2,187 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $647.33, for a total value of $1,415,710.71. Following the completion of the sale, the director directly owned 262 shares of the company’s stock, valued at $169,600.46. The trade was a 89.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $703.34, for a total value of $6,628,979.50. Following the transaction, the executive vice president directly owned 21,149 shares in the company, valued at $14,874,937.66. This trade represents a 30.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.98% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $670.21 on Wednesday. The stock’s 50-day moving average is $652.36 and its 200 day moving average is $592.66. The stock has a market cap of $53.52 billion, a price-to-earnings ratio of 55.80, a P/E/G ratio of 4.06 and a beta of 1.62. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $735.00. 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 (NASDAQ:IDXX) last issued its earnings results on Monday, November 3rd. The company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.08. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.IDEXX Laboratories’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. On average, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on IDXX. 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. Piper Sandler reissued a “neutral” rating and set a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Leerink Partners set a $785.00 price objective on shares of IDEXX Laboratories in a research report on Monday, November 3rd. Morgan Stanley lifted their target price on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Finally, Wall Street Zen raised shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Sunday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $730.50.

About IDEXX Laboratories

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.