Algert Global LLC Has $4.65 Million Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Algert Global LLC increased its stake in IDEXX Laboratories by 9.4% in the first quarter, holding 11,063 shares valued at approximately $4.65 million.
• Recent insider sales include EVP Michael Lane and CEO Jonathan Jay Mazelsky, who sold shares worth a total of $23.77 million, resulting in significant reductions in their ownership.
• Analysts have raised their price targets for IDEXX Laboratories, with JPMorgan Chase & Co. increasing theirs from $550 to $675, while the average target price now stands at $649.44.

Algert Global LLC boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 9.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,063 shares of the company's stock after buying an additional 950 shares during the quarter. Algert Global LLC's holdings in IDEXX Laboratories were worth $4,646,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IDXX. MorganRosel Wealth Management LLC acquired a new stake in IDEXX Laboratories in the first quarter valued at about $26,000. Colonial Trust Co SC boosted its stake in shares of IDEXX Laboratories by 84.8% during the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after purchasing an additional 39 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after purchasing an additional 30 shares in the last quarter. Bank of Jackson Hole Trust boosted its stake in shares of IDEXX Laboratories by 328.6% during 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 in the last quarter. Finally, Itau Unibanco Holding S.A. boosted its stake in shares of IDEXX Laboratories by 540.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock valued at $40,000 after purchasing an additional 81 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Up 2.0%

Shares of IDXX traded up $12.50 during mid-day trading on Friday, reaching $645.55. 352,260 shares of the company were exchanged, compared to its average volume of 793,847. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $688.12. 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 stock has a market capitalization of $51.64 billion, a PE ratio of 53.75, a PEG ratio of 4.18 and a beta of 1.49. The business has a 50 day simple moving average of $569.94 and a two-hundred day simple moving average of $494.38.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings data 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 return on equity of 64.42% and a net margin of 24.41%.The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned $2.44 earnings per share. The firm's revenue was up 10.6% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Michael G. Erickson sold 406 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $649.96, for a total value of $263,883.76. Following the completion of the sale, the executive vice president owned 11,287 shares of the company's stock, valued at approximately $7,336,098.52. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 83,311 shares of the company's stock, valued at $52,650,885.78. This trade represents a 25.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,870 shares of company stock valued at $32,877,757 over the last ninety days. Insiders own 0.98% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on IDXX. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a research note on Monday, August 4th. Morgan Stanley lifted their price target on IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research note on Friday, August 15th. BTIG Research lifted their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Piper Sandler reissued a "neutral" rating and set a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Finally, Wall Street Zen raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, IDEXX Laboratories currently has a consensus rating of "Moderate Buy" and a consensus price target of $649.44.

IDEXX Laboratories Company Profile

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.