Ritholtz Wealth Management Boosts Holdings in IDEXX Laboratories, Inc. $IDXX

Ritholtz Wealth Management raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 852.3% during the third quarter, Holdings Channel reports. The fund owned 8,685 shares of the company’s stock after buying an additional 7,773 shares during the period. Ritholtz Wealth Management’s holdings in IDEXX Laboratories were worth $5,549,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of IDXX. Empowered Funds LLC lifted its position in shares of IDEXX Laboratories by 6.6% during the 1st quarter. Empowered Funds LLC now owns 1,538 shares of the company’s stock valued at $646,000 after buying an additional 95 shares during the last quarter. Czech National Bank raised its stake in IDEXX Laboratories by 4.5% in the 2nd quarter. Czech National Bank now owns 19,657 shares of the company’s stock valued at $10,543,000 after acquiring an additional 850 shares during the period. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in IDEXX Laboratories during the second quarter valued at about $147,000. Pallas Capital Advisors LLC boosted its position in IDEXX Laboratories by 109.7% during the second quarter. Pallas Capital Advisors LLC now owns 2,334 shares of the company’s stock worth $1,252,000 after purchasing an additional 1,221 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in shares of IDEXX Laboratories in the second quarter worth about $265,000. 87.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Morgan Stanley upped their price target on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Wall Street Zen raised IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. JPMorgan Chase & Co. boosted their price objective on IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Stifel Nicolaus set a $775.00 target price on IDEXX Laboratories in a research note on Monday, November 3rd. Finally, BTIG Research upped their price target on IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $763.50.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $712.12 on Friday. The business’s 50-day moving average price is $706.58 and its two-hundred day moving average price is $648.21. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $769.98. The stock has a market cap of $56.86 billion, a P/E ratio of 56.47, a PEG ratio of 3.80 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 issued its quarterly earnings data on Monday, November 3rd. The company reported $3.22 EPS for the quarter, topping the consensus estimate of $3.14 by $0.08. The company 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%.IDEXX Laboratories’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. As a group, equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Activity at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 9,425 shares of the stock in a transaction on 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 transaction, the executive vice president 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 filing with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is owned by insiders.

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.