501 Shares in IDEXX Laboratories, Inc. $IDXX Purchased by Castleview Partners LLC

Key Points

• Castleview Partners LLC has acquired 501 shares of IDEXX Laboratories, valued at approximately $269,000, marking their new position in the company during the second quarter.
• Research analysts have increased their price targets for IDEXX Laboratories, with Morgan Stanley raising it from $722.00 to $765.00, while the consensus target price now stands at $649.44.
• Insider selling activity has been notable, with two executives, Sharon E. Underberg and Michael Lane, selling significant portions of their holdings, resulting in a combined total of over $8.8 million in transactions.

Castleview Partners LLC acquired a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 501 shares of the company's stock, valued at approximately $269,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IDXX. MorganRosel Wealth Management LLC purchased a new stake in IDEXX Laboratories in the 1st quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in IDEXX Laboratories by 55.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after acquiring an additional 30 shares in the last quarter. WPG Advisers LLC bought a new position in IDEXX Laboratories in the 1st quarter worth about $37,000. Finally, Bank of Jackson Hole Trust grew its stake in IDEXX Laboratories by 328.6% in the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after acquiring an additional 69 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IDXX has been the topic of a number of research analyst reports. 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 note on Friday, August 15th. Leerink Partners upped their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Piper Sandler restated a "neutral" rating and issued a $700.00 target price (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. JPMorgan Chase & Co. upped their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Finally, Jefferies Financial Group initiated coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, IDEXX Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $649.44.

Insider Buying and Selling

In other IDEXX Laboratories news, EVP Sharon E. Underberg sold 5,450 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $651.60, for a total value of $3,551,220.00. Following the completion of the sale, the executive vice president directly owned 6,156 shares in the company, valued at $4,011,249.60. This trade represents a 46.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Lane sold 8,411 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the completion of the sale, the executive vice president owned 7,132 shares of the company's stock, valued at approximately $4,477,041.68. This trade represents a 54.11% decrease in their ownership of the stock. 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. Insiders own 0.98% of the company's stock.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $627.17 on Thursday. 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 firm's 50 day moving average price is $621.26 and its 200-day moving average price is $524.68. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The company has a market cap of $50.17 billion, a PE ratio of 52.22, a P/E/G ratio of 4.20 and a beta of 1.56.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm earned $2.44 earnings per share. The company's quarterly 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. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS 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.

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