PFG Advisors Boosts Holdings in IDEXX Laboratories, Inc. $IDXX

PFG Advisors raised its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.5% in the second quarter, Holdings Channel reports. The institutional investor owned 11,571 shares of the company’s stock after acquiring an additional 1,196 shares during the period. PFG Advisors’ holdings in IDEXX Laboratories were worth $6,206,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of IDXX. Opal Wealth Advisors LLC purchased a new position in IDEXX Laboratories during the second quarter valued at $29,000. Ameritas Advisory Services LLC bought a new position in shares of IDEXX Laboratories in the second quarter worth about $36,000. NewSquare Capital LLC lifted 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 buying an additional 35 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock valued at $35,000 after buying an additional 30 shares in the last quarter. Finally, WPG Advisers LLC bought a new position in shares of IDEXX Laboratories during the 1st quarter valued at approximately $37,000. Institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Michael G. Erickson sold 406 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $649.96, for a total value of $263,883.76. Following the sale, the executive vice president owned 11,287 shares of the company’s stock, valued at $7,336,098.52. The trade was a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Nimrata Hunt sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $656.53, for a total value of $787,836.00. Following the sale, the executive vice president directly owned 16,807 shares in the company, valued at $11,034,299.71. This trade represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,793 shares of company stock worth $2,467,430 in the last quarter. 0.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on IDXX. UBS Group raised their target price on shares of IDEXX Laboratories from $710.00 to $750.00 and gave the stock a “neutral” rating in a research note on Tuesday. Weiss Ratings reissued a “buy (b-)” rating on shares of IDEXX Laboratories in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Morgan Stanley upped their target price on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Leerink Partners set a $785.00 price target on IDEXX Laboratories in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $730.50.

IDEXX Laboratories Stock Performance

IDXX opened at $708.45 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The stock has a market capitalization of $56.57 billion, a price-to-earnings ratio of 58.99, a PEG ratio of 4.06 and a beta of 1.62. The company has a fifty day moving average of $645.28 and a 200 day moving average of $579.33. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $735.00.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Monday, November 3rd. The company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.26. 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 analyst estimates of $1.07 billion. During the same quarter last year, the business posted $2.80 earnings per share. The business’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. As a group, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

IDEXX Laboratories Profile

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.