Mitsubishi UFJ Trust & Banking Corp Cuts Stock Position in IDEXX Laboratories, Inc. $IDXX

Mitsubishi UFJ Trust & Banking Corp trimmed its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 20.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,590 shares of the company’s stock after selling 15,176 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.07% of IDEXX Laboratories worth $38,071,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IDXX. Bank of New York Mellon Corp raised its position in IDEXX Laboratories by 156.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,451,390 shares of the company’s stock worth $778,439,000 after buying an additional 884,808 shares during the last quarter. Generation Investment Management LLP purchased a new stake in shares of IDEXX Laboratories in the second quarter valued at about $304,277,000. Norges Bank acquired a new position in shares of IDEXX Laboratories during the second quarter worth about $221,955,000. Schroder Investment Management Group raised its holdings in IDEXX Laboratories by 295.1% during the second quarter. Schroder Investment Management Group now owns 315,785 shares of the company’s stock worth $169,368,000 after purchasing an additional 235,863 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. lifted its position in IDEXX Laboratories by 50.3% in the second quarter. Montrusco Bolton Investments Inc. now owns 429,409 shares of the company’s stock valued at $224,153,000 after purchasing an additional 143,641 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on IDXX shares. Jefferies Financial Group reiterated a “buy” rating and set a $830.00 target price on shares of IDEXX Laboratories in a research report on Tuesday, November 4th. Barclays began coverage on IDEXX Laboratories in a research note on Monday, December 8th. They issued an “overweight” rating and a $850.00 price target on the stock. BTIG Research increased 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. Wall Street Zen downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. Finally, Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a research note on Monday, November 3rd. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average target price of $763.50.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $693.85 on Monday. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $705.83 and its 200 day moving average price is $656.34. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $769.98. The stock has a market cap of $55.40 billion, a price-to-earnings ratio of 55.02, a PEG ratio of 3.71 and a beta of 1.67.

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. IDEXX Laboratories had a net margin of 24.65% and a return on equity of 67.78%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm earned $2.80 earnings per share. The company’s revenue for the quarter 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. As a group, research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Nimrata Hunt sold 9,425 shares of the business’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 of the company’s stock, valued at $14,874,937.66. The trade was a 30.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.98% of the company’s stock.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc (NASDAQ: IDXX) is a global developer, manufacturer and provider of diagnostic products and services primarily for the animal health, water testing and food safety markets. Headquartered in Westbrook, Maine, the company supplies in-clinic diagnostic instruments, consumables, reference laboratory testing and practice-management tools that support veterinarians, livestock and dairy producers, and utilities and food producers worldwide.

IDEXX’s product portfolio includes point-of-care tests and immunoassays designed for rapid diagnosis in veterinary clinics, in-clinic chemistry and hematology analyzers, automated urinalysis systems, and digital diagnostic solutions.