Equitable Trust Co. Acquires 519 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Equitable Trust Co. increased its stake in IDEXX Laboratories by 28.1% during the second quarter, acquiring an additional 519 shares, bringing its total holdings to 2,368 shares valued at approximately $1.27 million.
• Major investment firms have actively traded shares of IDEXX Laboratories, with institutional investors now owning 87.84% of the company's stock.
• Brokerages have set optimistic price targets for IDEXX Laboratories, with Morgan Stanley revising their target from $722 to $765, indicating a consensus rating of "Moderate Buy" with a target price of $656.50.

Equitable Trust Co. boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 28.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,368 shares of the company's stock after acquiring an additional 519 shares during the period. Equitable Trust Co.'s holdings in IDEXX Laboratories were worth $1,270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in IDXX. MorganRosel Wealth Management LLC bought a new stake in IDEXX Laboratories in the 1st quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new position in IDEXX Laboratories in the 2nd quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in IDEXX Laboratories by 55.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after buying an additional 30 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in IDEXX Laboratories in the 2nd quarter valued at $36,000. Finally, WPG Advisers LLC acquired a new position in IDEXX Laboratories in the 1st quarter valued at $37,000. Institutional investors own 87.84% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on IDXX. Morgan Stanley upped their price objective on IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a report on Friday, August 15th. Leerink Partners upped their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Jefferies Financial Group started coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective on the stock. Piper Sandler reiterated a "neutral" rating and set a $700.00 target price (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Finally, Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $656.50.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $636.91 on Wednesday. The stock's 50-day simple moving average is $640.40 and its 200 day simple moving average is $545.72. The firm has a market capitalization of $50.96 billion, a PE ratio of 53.03, a price-to-earnings-growth ratio of 4.10 and a beta of 1.58. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12.

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

Insiders Place Their Bets

In other IDEXX Laboratories news, 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 value of $5,279,921.14. Following the completion of the transaction, the executive vice president directly owned 7,132 shares in the company, valued at approximately $4,477,041.68. This trade represents a 54.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nimrata Hunt sold 1,200 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $656.53, for a total value of $787,836.00. Following the completion of the transaction, the executive vice president owned 16,807 shares of the company's stock, valued at $11,034,299.71. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,057 shares of company stock valued at $34,293,468 over the last ninety days. 0.98% of the stock is owned by 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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