IDEXX Laboratories, Inc. $IDXX Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,921 shares of the company’s stock after purchasing an additional 537 shares during the period. PNC Financial Services Group Inc. owned approximately 0.05% of IDEXX Laboratories worth $23,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Mutual of America Capital Management LLC lifted its stake in shares of IDEXX Laboratories by 79.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company’s stock valued at $8,160,000 after purchasing an additional 8,609 shares during the last quarter. Arkadios Wealth Advisors purchased a new stake in IDEXX Laboratories in the 2nd quarter valued at about $405,000. Plato Investment Management Ltd lifted its position in IDEXX Laboratories by 37.1% in the first quarter. Plato Investment Management Ltd now owns 3,087 shares of the company’s stock valued at $1,310,000 after buying an additional 835 shares during the last quarter. Genesis Wealth Advisors LLC purchased a new position in IDEXX Laboratories during the second quarter worth about $215,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of IDEXX Laboratories during the second quarter valued at about $273,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX stock opened at $689.93 on Friday. The business’s 50-day moving average is $651.74 and its two-hundred day moving average is $587.72. 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 firm has a market capitalization of $55.09 billion, a P/E ratio of 57.45, 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.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.08. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm 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 firm earned $2.80 earnings per share. The business’s quarterly 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. Analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 2,187 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total value of $1,415,710.71. Following the sale, the director directly owned 262 shares in the company, valued at $169,600.46. This trade represents a 89.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nimrata Hunt sold 9,425 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 21,149 shares of the company’s stock, valued at approximately $14,874,937.66. This represents a 30.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.98% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IDXX. Piper Sandler reaffirmed a “neutral” rating and set a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Wall Street Zen upgraded IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. lifted 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. UBS Group increased their target price on 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 boosted their price target on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $730.50.

IDEXX Laboratories Company 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.