Principal Financial Group Inc. Purchases 187,967 Shares of IDEXX Laboratories, Inc. $IDXX

Principal Financial Group Inc. lifted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 16.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,315,722 shares of the company’s stock after buying an additional 187,967 shares during the period. Principal Financial Group Inc. owned about 1.64% of IDEXX Laboratories worth $840,638,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. J.Safra Asset Management Corp purchased a new position in shares of IDEXX Laboratories during the third quarter worth approximately $31,000. Armstrong Advisory Group Inc. grew its holdings in shares of IDEXX Laboratories by 55.9% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock valued at $34,000 after purchasing an additional 19 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in IDEXX Laboratories in the third quarter worth $35,000. WealthCollab LLC purchased a new stake in IDEXX Laboratories during the second quarter valued at about $30,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in IDEXX Laboratories by 62.2% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 60 shares of the company’s stock valued at $38,000 after buying an additional 23 shares during the period. Institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In related news, 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 transaction of $6,628,979.50. Following the transaction, the executive vice president owned 21,149 shares in the company, valued at $14,874,937.66. The trade was a 30.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.98% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX opened at $670.46 on Friday. 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 stock has a market capitalization of $53.54 billion, a PE ratio of 53.17, a price-to-earnings-growth ratio of 3.61 and a beta of 1.67. The stock’s 50 day moving average price is $705.35 and its 200-day moving average price is $660.81. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.08. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. IDEXX Laboratories had a net margin of 24.65% and a return on equity of 67.78%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. On average, equities research analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating and issued a $830.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, November 4th. Leerink Partners set a $785.00 price objective on IDEXX Laboratories in a research report on Monday, November 3rd. Stifel Nicolaus set a $775.00 price objective on IDEXX Laboratories in a research note on Monday, November 3rd. UBS Group lifted 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, November 4th. Finally, BTIG Research upped their price target on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $763.50.

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.