Swiss National Bank Increases Position in IDEXX Laboratories, Inc. $IDXX

Swiss National Bank grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.2% during the second quarter, Holdings Channel reports. The firm owned 245,300 shares of the company’s stock after acquiring an additional 14,300 shares during the period. Swiss National Bank’s holdings in IDEXX Laboratories were worth $131,564,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of IDEXX Laboratories in the second quarter worth about $29,000. Ameritas Advisory Services LLC purchased a new position in IDEXX Laboratories during the second quarter valued at $36,000. WPG Advisers LLC acquired a new stake in IDEXX Laboratories in the 1st quarter worth about $37,000. Bank of Jackson Hole Trust raised its stake in IDEXX Laboratories by 328.6% in the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company’s stock valued at $39,000 after purchasing an additional 69 shares during the last quarter. Finally, NewSquare Capital LLC lifted its stake in shares of IDEXX Laboratories by 87.5% in the second quarter. NewSquare Capital LLC now owns 75 shares of the company’s stock worth $40,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

IDXX has been the topic of a number of analyst reports. 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. Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a report on Monday, November 3rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $830.00 price objective on shares of IDEXX Laboratories in a research report on Tuesday, November 4th. JPMorgan Chase & Co. boosted their price target on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of IDEXX Laboratories in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average price target of $730.50.

Insider Buying and Selling

In other news, EVP Nimrata Hunt sold 9,425 shares of the firm’s 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 completion of the sale, the executive vice president owned 21,149 shares in the company, valued at approximately $14,874,937.66. This trade represents a 30.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $725.91 on Friday. The stock’s 50-day moving average price is $656.12 and its 200 day moving average price is $596.65. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $57.96 billion, a PE ratio of 60.44, a price-to-earnings-growth ratio of 4.06 and a beta of 1.62. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $735.59.

IDEXX Laboratories (NASDAQ:IDXX) last announced its 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. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the business posted $2.80 EPS. The company’s revenue was up 13.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

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.