Birchbrook Inc. Has $2.55 Million Stock Position in IDEXX Laboratories, Inc. $IDXX

Birchbrook Inc. cut its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 19.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 4,748 shares of the company’s stock after selling 1,145 shares during the quarter. IDEXX Laboratories accounts for 1.4% of Birchbrook Inc.’s investment portfolio, making the stock its 15th largest holding. Birchbrook Inc.’s holdings in IDEXX Laboratories were worth $2,547,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of IDXX. Vanguard Group Inc. raised its stake in shares of IDEXX Laboratories by 1.5% in the first quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company’s stock valued at $4,139,001,000 after acquiring an additional 146,427 shares during the last quarter. Geode Capital Management LLC increased its holdings in IDEXX Laboratories by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,464,290 shares of the company’s stock valued at $1,317,875,000 after purchasing an additional 54,402 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 valued at $835,244,000 after purchasing an additional 825,965 shares during the last quarter. Bank of New York Mellon Corp boosted its stake 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 in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of IDEXX Laboratories by 0.5% during the first quarter. Invesco Ltd. now owns 1,166,406 shares of the company’s stock worth $489,832,000 after purchasing an additional 5,418 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Ratings Changes

IDXX has been the subject of a number of research analyst reports. UBS Group lifted their price target on IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Stifel Nicolaus set a $775.00 target price on shares of IDEXX Laboratories in a research note on Monday, November 3rd. BTIG Research upped their target price on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Jefferies Financial Group reissued a “buy” rating and set a $830.00 price target on shares of IDEXX Laboratories in a research note on Tuesday, November 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $730.50.

IDEXX Laboratories Stock Up 0.2%

Shares of NASDAQ:IDXX opened at $670.21 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. The stock has a market cap of $53.52 billion, a price-to-earnings ratio of 55.80, a P/E/G ratio of 4.06 and a beta of 1.62. The company has a 50 day moving average of $652.36 and a 200-day moving average of $592.66. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $735.00.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data 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. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $2.80 earnings per share. IDEXX Laboratories’s 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. On average, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 9,425 shares of IDEXX Laboratories stock in a transaction on Friday, November 7th. The stock was sold at an average price of $703.34, for a total transaction 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. The trade was a 30.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director M Anne Szostak sold 2,187 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $647.33, for a total value of $1,415,710.71. Following the completion of the transaction, the director directly owned 262 shares in the company, valued at $169,600.46. The trade was a 89.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.98% of the stock is owned by company insiders.

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.