Teacher Retirement System of Texas Boosts Position in IDEXX Laboratories, Inc. $IDXX

Teacher Retirement System of Texas boosted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,466 shares of the company’s stock after purchasing an additional 2,344 shares during the period. Teacher Retirement System of Texas’ holdings in IDEXX Laboratories were worth $22,659,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of IDEXX Laboratories by 156.2% in the second quarter. Bank of New York Mellon Corp now owns 1,451,390 shares of the company’s stock worth $778,439,000 after buying an additional 884,808 shares during the last quarter. Generation Investment Management LLP purchased a new stake in IDEXX Laboratories during the second quarter valued at approximately $304,277,000. Norges Bank bought a new position in IDEXX Laboratories in the second quarter worth approximately $221,955,000. Schroder Investment Management Group raised its position in IDEXX Laboratories by 295.1% in the second quarter. Schroder Investment Management Group now owns 315,785 shares of the company’s stock worth $169,368,000 after acquiring an additional 235,863 shares during the period. Finally, Montrusco Bolton Investments Inc. boosted its stake in shares of IDEXX Laboratories by 50.3% during the 2nd quarter. Montrusco Bolton Investments Inc. now owns 429,409 shares of the company’s stock worth $224,153,000 after acquiring an additional 143,641 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IDXX has been the subject of several analyst reports. Morgan Stanley upped their price objective on IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Barclays initiated 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. Jefferies Financial Group restated a “buy” rating and issued a $830.00 price target on shares of IDEXX Laboratories in a research report on Tuesday, November 4th. Weiss Ratings raised IDEXX Laboratories from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Finally, Wall Street Zen downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $763.50.

Insider Transactions at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 9,425 shares of IDEXX Laboratories stock in a transaction that occurred 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 sale, the executive vice president 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.98% of the stock is currently owned by company insiders.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $693.85 on Friday. The business’s 50-day simple moving average is $705.83 and its two-hundred day simple moving average is $655.53. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $769.98. The stock has a market cap of $55.40 billion, a PE ratio of 55.02, a P/E/G ratio of 3.71 and a beta of 1.67. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.24.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.08. The firm 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 67.78% and a net margin of 24.65%.The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. As a group, analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

IDEXX Laboratories Company 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.