Caisse DE Depot ET Placement DU Quebec Has $70.54 Million Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Caisse DE Depot ET Placement DU Quebec has increased its position in IDEXX Laboratories, owning approximately 167,974 shares valued at $70.54 million after a 3.5% increase in holdings during the 1st quarter.
• Several large investors have also modified their stakes in the company, with a significant 328.6% increase from Bank of Jackson Hole Trust in the 1st quarter.
• Analysts have raised their price targets for IDEXX Laboratories, with Morgan Stanley setting a new objective at $765.00 and a consensus rating of "Moderate Buy."

Caisse DE Depot ET Placement DU Quebec increased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 3.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,974 shares of the company's stock after purchasing an additional 5,664 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.21% of IDEXX Laboratories worth $70,541,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. MorganRosel Wealth Management LLC acquired a new stake in IDEXX Laboratories in the 1st quarter valued at $26,000. Colonial Trust Co SC boosted its stake in shares of IDEXX Laboratories by 84.8% in the 4th 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. grew its holdings in shares of 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 purchasing an additional 30 shares during the last quarter. Bank of Jackson Hole Trust increased 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 worth $39,000 after purchasing an additional 69 shares in the last quarter. Finally, Itau Unibanco Holding S.A. grew its stake in IDEXX Laboratories by 540.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after buying an additional 81 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Morgan Stanley boosted their price objective on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. BTIG Research increased their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Leerink Partners increased their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Piper Sandler restated a "neutral" rating and set a $700.00 target price (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Finally, JPMorgan Chase & Co. increased their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. One research 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.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $649.44.

IDEXX Laboratories Trading Down 0.7%

Shares of IDXX opened at $641.35 on Tuesday. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $688.12. The stock's fifty day simple moving average is $572.19 and its 200-day simple moving average is $495.65. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $51.31 billion, a PE ratio of 53.40, a price-to-earnings-growth ratio of 4.18 and a beta of 1.49.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm posted $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. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Sharon E. Underberg sold 5,450 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $651.60, for a total value of $3,551,220.00. Following the transaction, the executive vice president owned 6,156 shares of the company's stock, valued at approximately $4,011,249.60. This represents a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of the 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 completion of the transaction, the chief executive officer directly owned 83,311 shares in the company, valued at $52,650,885.78. The trade was a 25.99% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,870 shares of company stock valued at $32,877,757. Corporate insiders own 0.98% of the company's stock.

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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