Journey Strategic Wealth LLC Invests $255,000 in IDEXX Laboratories, Inc. $IDXX

Journey Strategic Wealth LLC purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 475 shares of the company’s stock, valued at approximately $255,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. STF Management LP boosted its position in shares of IDEXX Laboratories by 1.3% in the second quarter. STF Management LP now owns 1,240 shares of the company’s stock valued at $665,000 after acquiring an additional 16 shares during the period. Clearstead Trust LLC grew its position in shares of IDEXX Laboratories by 1.1% during the 2nd quarter. Clearstead Trust LLC now owns 1,515 shares of the company’s stock worth $813,000 after purchasing an additional 16 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of IDEXX Laboratories by 1.7% during the second quarter. Stratos Wealth Partners LTD. now owns 1,051 shares of the company’s stock worth $564,000 after purchasing an additional 18 shares during the period. Red Spruce Capital LLC increased its holdings in shares of IDEXX Laboratories by 1.1% during the second quarter. Red Spruce Capital LLC now owns 1,701 shares of the company’s stock worth $912,000 after purchasing an additional 19 shares during the period. Finally, Huntington National Bank raised its position in shares of IDEXX Laboratories by 0.5% in the second quarter. Huntington National Bank now owns 3,651 shares of the company’s stock valued at $1,958,000 after buying an additional 19 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Up 3.6%

IDXX stock opened at $752.14 on Tuesday. The firm has a 50-day moving average price of $658.28 and a 200-day moving average price of $599.27. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $759.33. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $60.06 billion, a P/E ratio of 62.63, a price-to-earnings-growth ratio of 4.06 and a beta of 1.62.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Monday, November 3rd. The company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.14 by $0.08. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.80 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of the business’s stock in a transaction on 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 sale, the executive vice president 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IDXX. JPMorgan Chase & Co. increased their price target on IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of IDEXX Laboratories in a report on Wednesday, November 19th. BTIG Research increased their target price on IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Stifel Nicolaus set a $775.00 price target on IDEXX Laboratories in a research report on Monday, November 3rd. Finally, UBS Group boosted their price target on IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average price target of $730.50.

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.