Financial Advocates Investment Management Sells 115 Shares of IDEXX Laboratories, Inc. $IDXX

Financial Advocates Investment Management cut its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 850 shares of the company’s stock after selling 115 shares during the quarter. Financial Advocates Investment Management’s holdings in IDEXX Laboratories were worth $456,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. STF Management LP boosted its holdings in IDEXX Laboratories by 1.3% during the second quarter. STF Management LP now owns 1,240 shares of the company’s stock worth $665,000 after buying an additional 16 shares in the last quarter. Clearstead Trust LLC increased its position in IDEXX Laboratories by 1.1% during 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 last quarter. Stratos Wealth Partners LTD. grew its position in IDEXX Laboratories by 1.7% in the second quarter. Stratos Wealth Partners LTD. now owns 1,051 shares of the company’s stock worth $564,000 after acquiring an additional 18 shares during the period. Red Spruce Capital LLC raised its holdings in IDEXX Laboratories by 1.1% in the 2nd quarter. Red Spruce Capital LLC now owns 1,701 shares of the company’s stock valued at $912,000 after buying an additional 19 shares during the period. Finally, Huntington National Bank boosted its position in shares of IDEXX Laboratories by 0.5% during the 2nd quarter. Huntington National Bank now owns 3,651 shares of the company’s stock worth $1,958,000 after purchasing an additional 19 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on IDXX. JPMorgan Chase & Co. upped 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. Piper Sandler reissued a “neutral” rating and set a $700.00 target price (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. UBS Group lifted their target price on IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Wall Street Zen upgraded shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 16th. Finally, BTIG Research raised their price objective on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. One equities research 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $730.50.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 9,425 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $703.34, for a total value of $6,628,979.50. Following the completion of the sale, the executive vice president directly owned 21,149 shares of the company’s stock, valued at $14,874,937.66. This represents a 30.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.98% of the company’s stock.

IDEXX Laboratories Trading Down 1.4%

Shares of NASDAQ:IDXX opened at $755.96 on Friday. The company has a market cap of $60.36 billion, a PE ratio of 62.94, a P/E/G ratio of 4.06 and a beta of 1.62. The company’s 50 day moving average is $665.02 and its two-hundred day moving average is $603.36. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $769.98. 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 announced its quarterly earnings results on Monday, November 3rd. The company reported $3.22 earnings per share (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 posted $2.80 earnings per share. The firm’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. Equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share 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.