Ascent Group LLC Purchases Shares of 717 IDEXX Laboratories, Inc. $IDXX

Key Points

• Ascent Group LLC has acquired a new stake in IDEXX Laboratories, Inc., purchasing 717 shares valued at approximately $301,000 in the first quarter.
• Analysts have increased their price targets for IDEXX Laboratories, with JPMorgan Chase raising its target from $550 to $675, reflecting strong bullish sentiment.
• Insider transactions show a notable sell-off, with CEO Jonathan Jay Mazelsky and EVP Nimrata Hunt selling 29,260 and 7,143 shares respectively, indicating a significant decrease in their ownership percentages.

Ascent Group LLC purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 717 shares of the company's stock, valued at approximately $301,000.

Other institutional investors also recently modified their holdings of the company. Mutual of America Capital Management LLC boosted its holdings in shares of IDEXX Laboratories by 79.6% during the first quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company's stock worth $8,160,000 after purchasing an additional 8,609 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of IDEXX Laboratories by 3,766.7% during the first quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock worth $49,000 after purchasing an additional 113 shares during the period. Sagespring Wealth Partners LLC purchased a new stake in shares of IDEXX Laboratories during the first quarter worth about $229,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of IDEXX Laboratories by 13.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company's stock worth $10,731,000 after purchasing an additional 2,931 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of IDEXX Laboratories by 4.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,225 shares of the company's stock worth $934,000 after purchasing an additional 94 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IDXX shares. JPMorgan Chase & Co. increased their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Stifel Nicolaus set a $640.00 price target on shares of IDEXX Laboratories in a research note on Monday, August 4th. Morgan Stanley increased their price target 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. Piper Sandler reissued a "neutral" rating and issued 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 shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $649.44.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $645.16 on Friday. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $688.12. The company has a 50 day simple moving average of $601.69 and a two-hundred day simple moving average of $512.04. The company has a market capitalization of $51.62 billion, a price-to-earnings ratio of 53.72, a P/E/G ratio of 4.13 and a beta of 1.56. 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 - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $3.63 earnings per share 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 business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm earned $2.44 earnings per share. The business's revenue for the quarter was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 7,143 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the completion of the transaction, the executive vice president owned 18,007 shares of the company's stock, valued at approximately $11,352,153.01. This trade represents a 28.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $18,491,734.80. Following the transaction, the chief executive officer directly owned 83,311 shares of the company's stock, valued at $52,650,885.78. This represents a 25.99% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is currently owned by company 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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