Banque Transatlantique SA Sells 1,509 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Banque Transatlantique SA has reduced its position in IDEXX Laboratories, Inc. by 23.2%, now holding 4,982 shares valued at approximately $1.93 million.
• Insider selling was significant, with EVP Sharon E. Underberg selling 5,450 shares and CEO Jonathan Jay Mazelsky offloading 29,260 shares, resulting in reductions of 46.96% and 25.99% in their respective holdings.
• Analysts have set new price targets for IDEXX Laboratories, with target prices ranging from $600 to $765, reflecting generally positive sentiment towards the stock.

Banque Transatlantique SA reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 23.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,982 shares of the company's stock after selling 1,509 shares during the period. Banque Transatlantique SA's holdings in IDEXX Laboratories were worth $1,933,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of IDXX. GAMMA Investing LLC raised its holdings in IDEXX Laboratories by 59,810.7% during the first quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock valued at $3,856,950,000 after buying an additional 916,898 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in IDEXX Laboratories by 71.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock valued at $835,244,000 after buying an additional 825,965 shares in the last quarter. Nuveen LLC bought a new position in IDEXX Laboratories during the first quarter valued at about $179,784,000. Principal Financial Group Inc. raised its holdings in IDEXX Laboratories by 58.3% during the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after buying an additional 414,802 shares in the last quarter. Finally, Durable Capital Partners LP bought a new position in IDEXX Laboratories during the first quarter valued at about $153,180,000. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Performance

IDXX stock traded up $2.55 during trading on Friday, reaching $642.99. 370,390 shares of the stock were exchanged, compared to its average volume of 413,114. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12. The company has a market capitalization of $51.44 billion, a P/E ratio of 53.54, a price-to-earnings-growth ratio of 4.16 and a beta of 1.56. The stock has a 50 day simple moving average of $593.22 and a 200-day simple moving average of $507.11. 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 (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.35. The firm had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Buying and Selling

In other news, Director M Anne Szostak sold 2,187 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $647.33, for a total value of $1,415,710.71. Following the completion of the transaction, the director owned 262 shares in the company, valued at approximately $169,600.46. The trade was a 89.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of IDEXX Laboratories 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 completion of the transaction, the chief executive officer 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 have sold a total of 54,057 shares of company stock valued at $34,293,468 in the last ninety days. 0.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on IDXX shares. Morgan Stanley raised their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a report on Friday, August 15th. BTIG Research raised their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Wall Street Zen raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Leerink Partners raised their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, Jefferies Financial Group started coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target on the stock. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $649.44.

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.