Wealth Alliance LLC Buys Shares of 704 IDEXX Laboratories, Inc. $IDXX

Wealth Alliance LLC purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the second quarter, HoldingsChannel reports. The firm purchased 704 shares of the company’s stock, valued at approximately $378,000.

Several other institutional investors and hedge funds have also made changes to their positions in IDXX. Bank of New York Mellon Corp lifted its position in 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 purchasing an additional 884,808 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of IDEXX Laboratories by 71.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company’s stock worth $835,244,000 after buying an additional 825,965 shares in the last quarter. Generation Investment Management LLP acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at $304,277,000. Select Equity Group L.P. bought a new position in IDEXX Laboratories during the first quarter valued at about $194,834,000. Finally, Nuveen LLC bought a new position in IDEXX Laboratories during the first quarter valued at about $179,784,000. 87.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at IDEXX Laboratories

In related news, Director M Anne Szostak sold 2,187 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the completion of the sale, the director directly owned 262 shares in the company, valued at approximately $169,600.46. This trade represents a 89.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nimrata Hunt sold 9,425 shares of the business’s stock in a transaction dated 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 owned 21,149 shares in the company, valued at $14,874,937.66. This trade represents a 30.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.98% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $701.48 on Friday. The company has a market capitalization of $56.01 billion, a price-to-earnings ratio of 58.41, a P/E/G ratio of 4.06 and a beta of 1.62. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $735.00. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $650.81 and its 200-day simple moving average is $585.94.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, November 3rd. The company reported $3.22 EPS 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 64.42% and a net margin of 24.41%.The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company posted $2.80 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. On average, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

IDXX has been the subject of several research reports. Stifel Nicolaus set a $775.00 price objective on shares of IDEXX Laboratories in a research report on Monday, November 3rd. BTIG Research raised their target price on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a research report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of IDEXX Laboratories in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $730.50.

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.