Northwest & Ethical Investments L.P. Makes New Investment in IDEXX Laboratories, Inc. $IDXX

Northwest & Ethical Investments L.P. acquired a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,859 shares of the company’s stock, valued at approximately $1,533,000.

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

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $755.96 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $769.98. The business has a 50 day simple moving average of $665.02 and a two-hundred day simple moving average of $603.36. The stock has a market capitalization of $60.36 billion, a PE ratio of 62.94, a P/E/G ratio of 4.06 and a beta of 1.62.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Monday, November 3rd. The company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.08. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the company earned $2.80 EPS. The company’s quarterly revenue 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, research analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of IDEXX Laboratories stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 21,149 shares of the company’s stock, valued at $14,874,937.66. This trade represents a 30.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.98% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IDXX. JPMorgan Chase & Co. increased their price target on IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Jefferies Financial Group reiterated a “buy” rating and set a $830.00 target price on shares of IDEXX Laboratories in a research report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of IDEXX Laboratories in a report on Tuesday. Piper Sandler restated a “neutral” rating and issued a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Finally, Stifel Nicolaus set a $775.00 price objective on shares of IDEXX Laboratories in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.