Principal Financial Group Inc. Grows Position in IDEXX Laboratories, Inc. $IDXX

Principal Financial Group Inc. lifted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 16.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,315,722 shares of the company’s stock after purchasing an additional 187,967 shares during the quarter. Principal Financial Group Inc.’s holdings in IDEXX Laboratories were worth $840,638,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. STF Management LP boosted its holdings in shares of IDEXX Laboratories by 1.3% during the 2nd quarter. STF Management LP now owns 1,240 shares of the company’s stock valued at $665,000 after buying an additional 16 shares in the last quarter. Clearstead Trust LLC grew its holdings in IDEXX Laboratories by 1.1% in the second quarter. Clearstead Trust LLC now owns 1,515 shares of the company’s stock worth $813,000 after purchasing an additional 16 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of IDEXX Laboratories by 4.4% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 380 shares of the company’s stock valued at $243,000 after purchasing an additional 16 shares in the last quarter. Moss Adams Wealth Advisors LLC lifted its holdings in shares of IDEXX Laboratories by 3.3% during the third quarter. Moss Adams Wealth Advisors LLC now owns 528 shares of the company’s stock valued at $337,000 after purchasing an additional 17 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in shares of IDEXX Laboratories by 1.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 1,051 shares of the company’s stock worth $564,000 after purchasing an additional 18 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IDXX has been the subject of a number of analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $830.00 price objective on shares of IDEXX Laboratories in a research report on Tuesday, November 4th. Stifel Nicolaus set a $775.00 price target on IDEXX Laboratories in a report on Monday, November 3rd. BTIG Research upped their price target on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. UBS Group raised their price objective on shares of IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Finally, Leerink Partners set a $785.00 target price on shares of IDEXX Laboratories in a report on Monday, November 3rd. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $763.50.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $670.46 on Friday. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $769.98. The business has a 50-day simple moving average of $705.35 and a two-hundred day simple moving average of $660.81. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 1.18. The firm has a market cap of $53.54 billion, a price-to-earnings ratio of 53.17, a price-to-earnings-growth ratio of 3.61 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 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.08. IDEXX Laboratories had a net margin of 24.65% and a return on equity of 67.78%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business posted $2.80 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. On average, analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insiders Place Their Bets

In other IDEXX Laboratories 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 sale, the executive vice president directly owned 21,149 shares in the company, valued at approximately $14,874,937.66. The trade was a 30.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

About IDEXX Laboratories

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.