Prudential Financial Inc. Acquires 20,670 Shares of IDEXX Laboratories, Inc. $IDXX

Prudential Financial Inc. boosted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 48.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,121 shares of the company’s stock after buying an additional 20,670 shares during the quarter. Prudential Financial Inc. owned about 0.08% of IDEXX Laboratories worth $33,854,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of IDEXX Laboratories during the 2nd quarter valued at about $29,000. Ameritas Advisory Services LLC bought a new stake in IDEXX Laboratories during the second quarter worth approximately $36,000. NewSquare Capital LLC grew its holdings in IDEXX Laboratories by 87.5% during the second quarter. NewSquare Capital LLC now owns 75 shares of the company’s stock valued at $40,000 after purchasing an additional 35 shares during the last quarter. WPG Advisers LLC acquired a new position in IDEXX Laboratories during the first quarter valued at approximately $37,000. Finally, Bank of Jackson Hole Trust raised its position in shares of IDEXX Laboratories by 328.6% in the first 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 period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

IDXX has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a report 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 issued a $830.00 price target on shares of IDEXX Laboratories in a research report on Tuesday, November 4th. BTIG Research boosted their price objective on IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. increased their target price on IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. One 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. According to MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $730.50.

IDEXX Laboratories Stock Up 3.6%

Shares of IDXX opened at $752.14 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The company has a 50-day simple moving average of $658.28 and a 200-day simple moving average of $599.27. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $759.33. The firm has a market capitalization of $60.06 billion, a P/E ratio of 62.63, a P/E/G ratio of 4.06 and a beta of 1.62.

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. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the business earned $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Activity

In related news, EVP Nimrata Hunt sold 9,425 shares of the company’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 in the company, valued at approximately $14,874,937.66. This represents a 30.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

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.