Kornitzer Capital Management Inc. KS Sells 4,900 Shares of IDEXX Laboratories, Inc. $IDXX

Kornitzer Capital Management Inc. KS lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 22.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,744 shares of the company’s stock after selling 4,900 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in IDEXX Laboratories were worth $10,698,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blalock Williams LLC bought a new position in shares of IDEXX Laboratories during the 3rd quarter valued at about $590,000. Arkadios Wealth Advisors purchased a new stake in shares of IDEXX Laboratories in the second quarter worth about $405,000. Orion Porfolio Solutions LLC boosted its stake in IDEXX Laboratories by 116.6% during the second quarter. Orion Porfolio Solutions LLC now owns 10,718 shares of the company’s stock valued at $5,749,000 after buying an additional 5,770 shares during the last quarter. USA Financial Formulas purchased a new position in IDEXX Laboratories during the 3rd quarter valued at approximately $2,381,000. Finally, Beacon Investment Advisory Services Inc. increased its stake in IDEXX Laboratories by 15.7% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 56,241 shares of the company’s stock worth $35,932,000 after acquiring an additional 7,616 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Trading Up 0.6%

NASDAQ IDXX opened at $697.82 on Tuesday. The stock has a market cap of $55.72 billion, a PE ratio of 55.34, a PEG ratio of 3.71 and a beta of 1.67. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $769.98. The company’s 50-day moving average price is $706.41 and its 200-day moving average price is $657.44. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Monday, November 3rd. The company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.08. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. IDEXX Laboratories had a net margin of 24.65% and a return on equity of 67.78%. The company’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 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Activity

In other news, EVP Nimrata Hunt sold 9,425 shares of the business’s stock in a transaction on Friday, November 7th. The stock was 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 directly owned 21,149 shares of the company’s stock, valued at approximately $14,874,937.66. The trade was a 30.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

IDXX has been the topic of a number of recent research reports. Stifel Nicolaus set a $775.00 price target on shares of IDEXX Laboratories in a research note on Monday, November 3rd. BTIG Research increased 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. Morgan Stanley boosted their price objective on IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. UBS Group upped their price objective on IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings upgraded IDEXX Laboratories from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $763.50.

IDEXX Laboratories Profile

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.