Westpac Banking Corp Has $499,000 Position in IDEXX Laboratories, Inc. $IDXX

Westpac Banking Corp cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 83.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 930 shares of the company’s stock after selling 4,536 shares during the quarter. Westpac Banking Corp’s holdings in IDEXX Laboratories were worth $499,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of IDXX. Rockefeller Capital Management L.P. raised its holdings in IDEXX Laboratories by 6.6% in the second quarter. Rockefeller Capital Management L.P. now owns 54,826 shares of the company’s stock worth $29,406,000 after purchasing an additional 3,400 shares during the period. Citizens Financial Group Inc. RI grew its holdings in shares of IDEXX Laboratories by 53.1% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 1,608 shares of the company’s stock valued at $863,000 after buying an additional 558 shares during the period. Jensen Investment Management Inc. increased its position in shares of IDEXX Laboratories by 27.1% in the 2nd quarter. Jensen Investment Management Inc. now owns 10,410 shares of the company’s stock valued at $5,583,000 after buying an additional 2,220 shares in the last quarter. Cetera Investment Advisers raised its stake in IDEXX Laboratories by 6.3% during the 2nd quarter. Cetera Investment Advisers now owns 20,643 shares of the company’s stock worth $11,072,000 after buying an additional 1,223 shares during the period. Finally, Creative Planning lifted its holdings in IDEXX Laboratories by 11.7% during the second quarter. Creative Planning now owns 29,068 shares of the company’s stock worth $15,590,000 after acquiring an additional 3,052 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

IDXX has been the subject of several recent analyst reports. Morgan Stanley increased their price target on IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. increased their target price on IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Weiss Ratings downgraded shares of IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. UBS Group lifted their price target on shares of IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Finally, Piper Sandler reissued 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. 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 presently has a consensus rating of “Moderate Buy” and an average target price of $730.50.

Insider Activity

In other IDEXX Laboratories news, Director M Anne Szostak sold 2,187 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the sale, the director directly owned 262 shares of the company’s stock, valued at $169,600.46. The trade was a 89.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Nimrata Hunt sold 9,425 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $703.34, for a total transaction of $6,628,979.50. Following the transaction, the executive vice president 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.98% of the company’s stock.

IDEXX Laboratories Trading Down 3.0%

NASDAQ IDXX opened at $669.00 on Tuesday. The stock has a market capitalization of $53.42 billion, a price-to-earnings ratio of 55.70, a PEG 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 $735.00. The stock’s 50 day moving average price is $652.07 and its two-hundred day moving average price is $591.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Monday, November 3rd. The company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.08. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. As a group, analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal 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.