1,056 Shares in IDEXX Laboratories, Inc. $IDXX Acquired by Canandaigua National Bank & Trust Co.

Key Points

• Canandaigua National Bank & Trust Co. has acquired 1,056 shares of IDEXX Laboratories, Inc., valued at approximately $566,000, signaling institutional interest in the company.
• Recent analysts' reports have boosted IDEXX's price targets significantly, with JPMorgan Chase raising their target from $550 to $675, while BTIG Research set a new target of $785.
• CEO Jonathan Jay Mazelsky sold 29,260 shares for about $18.49 million, reducing his ownership stake by nearly 26%, amidst a broader trend of insider selling.

Canandaigua National Bank & Trust Co. purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,056 shares of the company's stock, valued at approximately $566,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new stake in IDEXX Laboratories during the 1st quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after acquiring an additional 30 shares during the period. WPG Advisers LLC bought a new stake in IDEXX Laboratories during the 1st quarter valued at $37,000. Bank of Jackson Hole Trust grew its position in shares of IDEXX Laboratories by 328.6% during 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 in the last quarter. Finally, Cornerstone Planning Group LLC grew its position in shares of IDEXX Laboratories by 108.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 104 shares of the company's stock valued at $44,000 after purchasing an additional 54 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IDXX. JPMorgan Chase & Co. boosted their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. BTIG Research boosted their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price for the company. Piper Sandler reiterated a "neutral" rating and issued a $700.00 target price (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Finally, Morgan Stanley upped their target price on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, IDEXX Laboratories has a consensus rating of "Moderate Buy" and an average price target of $649.44.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $643.99 on Tuesday. The company has a market cap of $51.52 billion, a price-to-earnings ratio of 53.62, a price-to-earnings-growth ratio of 4.15 and a beta of 1.56. The company has a 50-day moving average price of $605.56 and a 200-day moving average price of $515.63. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm earned $2.44 earnings per share. IDEXX Laboratories's revenue was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Buying and Selling

In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 29,260 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $631.98, for a total value of $18,491,734.80. Following the sale, the chief executive officer owned 83,311 shares in the company, valued at approximately $52,650,885.78. This represents a 25.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director M Anne Szostak sold 2,187 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the completion of the sale, the director owned 262 shares in the company, valued at approximately $169,600.46. This trade represents a 89.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,057 shares of company stock valued at $34,293,468 over the last quarter. 0.98% of the stock is currently owned by insiders.

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.

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