CFC Planning Co LLC Cuts Stock Position in IDEXX Laboratories, Inc. $IDXX

CFC Planning Co LLC cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,219 shares of the company’s stock after selling 101 shares during the quarter. CFC Planning Co LLC’s holdings in IDEXX Laboratories were worth $654,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Franklin Resources Inc. increased its holdings in IDEXX Laboratories by 6.9% during the second quarter. Franklin Resources Inc. now owns 592,649 shares of the company’s stock worth $317,862,000 after buying an additional 38,202 shares during the last quarter. Legal & General Group Plc grew its position in shares of IDEXX Laboratories by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 648,626 shares of the company’s stock valued at $347,884,000 after acquiring an additional 11,768 shares during the period. Martin Currie Ltd. increased its stake in shares of IDEXX Laboratories by 3.8% during the 2nd quarter. Martin Currie Ltd. now owns 82,254 shares of the company’s stock worth $44,116,000 after purchasing an additional 3,039 shares during the last quarter. MAI Capital Management raised its holdings in shares of IDEXX Laboratories by 22.6% in the 2nd quarter. MAI Capital Management now owns 1,065 shares of the company’s stock worth $571,000 after purchasing an additional 196 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in IDEXX Laboratories by 22.7% in the second quarter. JPMorgan Chase & Co. now owns 543,582 shares of the company’s stock valued at $291,555,000 after purchasing an additional 100,517 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IDXX has been the subject of a number of recent research reports. Morgan Stanley raised their target price on IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Piper Sandler reissued a “neutral” rating and issued a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Weiss Ratings restated a “hold (c+)” rating on shares of IDEXX Laboratories in a research note on Wednesday. Stifel Nicolaus set a $775.00 target price on shares of IDEXX Laboratories in a research report on Monday, November 3rd. Finally, Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $730.50.

Insider Buying and Selling

In other news, EVP Nimrata Hunt sold 9,425 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $703.34, for a total transaction of $6,628,979.50. Following the completion of the transaction, the executive vice president directly owned 21,149 shares in the company, valued at $14,874,937.66. The trade was a 30.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Stock Down 1.1%

IDXX stock opened at $689.35 on Friday. The stock has a 50-day simple moving average of $654.43 and a two-hundred day simple moving average of $594.06. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $735.00. The firm has a market capitalization of $55.05 billion, a PE ratio of 57.40, a PEG ratio of 4.06 and a beta of 1.62. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly 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 firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. On average, equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

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.