CHICAGO TRUST Co NA Buys 953 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• CHICAGO TRUST Co NA increased its stake in IDEXX Laboratories by 34.9%, acquiring an additional 953 shares, bringing its total holding to 3,686 shares, valued at approximately $1.98 million.
• IDEXX Laboratories reported quarterly earnings of $3.63 EPS, exceeding estimates, with last quarter's revenue reaching $1.11 billion, a 10.6% increase compared to the same period last year.
• Institutional investors hold 87.84% of IDEXX Laboratories' shares, highlighting strong investor interest; multiple analysts have recently raised their price targets for the stock.

CHICAGO TRUST Co NA increased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 34.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,686 shares of the company's stock after acquiring an additional 953 shares during the quarter. CHICAGO TRUST Co NA's holdings in IDEXX Laboratories were worth $1,977,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Opal Wealth Advisors LLC bought a new position in shares of IDEXX Laboratories during the second quarter worth $29,000. Salvus Wealth Management LLC bought a new position in shares of IDEXX Laboratories during the second quarter worth $329,000. KFG Wealth Management LLC boosted its position in shares of IDEXX Laboratories by 2.2% during the second quarter. KFG Wealth Management LLC now owns 1,422 shares of the company's stock worth $763,000 after acquiring an additional 31 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of IDEXX Laboratories by 11.3% during the second quarter. GAMMA Investing LLC now owns 2,435 shares of the company's stock worth $1,306,000 after acquiring an additional 248 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its position in shares of IDEXX Laboratories by 9.1% during the second quarter. Park Avenue Securities LLC now owns 2,470 shares of the company's stock worth $1,325,000 after acquiring an additional 206 shares during the last quarter. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Trading Down 1.8%

IDXX stock opened at $644.10 on Tuesday. The company has a market capitalization of $51.53 billion, a PE ratio of 53.63, a P/E/G ratio of 4.25 and a beta of 1.56. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12. The firm's 50-day moving average is $616.70 and its 200 day moving average is $523.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $3.28 by $0.35. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm's revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Activity 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 shares were sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the transaction, the executive vice president directly owned 6,156 shares in the company, valued at $4,011,249.60. This represents a 46.96% decrease in their position. 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 stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the transaction, the executive vice president owned 7,132 shares in the company, valued at approximately $4,477,041.68. The trade was 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 worth $34,293,468 over the last quarter. Corporate insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Piper Sandler reaffirmed a "neutral" rating and set a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target on the stock. Stifel Nicolaus set a $640.00 price target on shares of IDEXX Laboratories in a research note on Monday, August 4th. Wall Street Zen raised shares of IDEXX Laboratories from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, Leerink Partners upped their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. One investment 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 MarketBeat.com, IDEXX Laboratories currently has an average 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.

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