Ethic Inc. Buys 2,432 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Ethic Inc. increased its stake in IDEXX Laboratories by 39.1%, acquiring an additional 2,432 shares to bring its total holdings to 8,657 shares, valued at $3.62 million.
• CEO Jonathan Jay Mazelsky sold 29,260 shares, reducing his ownership by 25.99%, while other executives also made significant stock sales in recent transactions.
• IDEXX's stock has received numerous analyst upgrades, with target prices raised significantly, reflecting a consensus rating of "Moderate Buy" and an average target price of around $649.44.

Ethic Inc. raised its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 39.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,657 shares of the company's stock after buying an additional 2,432 shares during the period. Ethic Inc.'s holdings in IDEXX Laboratories were worth $3,624,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of IDXX. MorganRosel Wealth Management LLC acquired a new position in shares of IDEXX Laboratories in the first quarter worth about $26,000. Colonial Trust Co SC lifted its position 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 acquiring an additional 39 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in 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 period. Bank of Jackson Hole Trust grew its position in 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 position in IDEXX Laboratories by 540.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Up 0.5%

IDXX traded up $3.14 during trading on Wednesday, reaching $639.85. 525,226 shares of the stock traded hands, compared to its average volume of 726,979. The stock's 50-day simple moving average is $563.04 and its two-hundred day simple moving average is $490.56. 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, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $688.12. The stock has a market cap of $51.19 billion, a price-to-earnings ratio of 53.28, a price-to-earnings-growth ratio of 4.13 and a beta of 1.49.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping 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 company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the firm posted $2.44 EPS. The business's revenue was up 10.6% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, equities research analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. BTIG Research increased their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Morgan Stanley increased 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. Stifel Nicolaus set a $640.00 price objective on IDEXX Laboratories in a research report on Monday, August 4th. JPMorgan Chase & Co. lifted their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $649.44.

Insider Transactions at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 7,143 shares of the stock in a transaction 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 transaction, the executive vice president owned 18,007 shares in the company, valued at $11,352,153.01. This represents a 28.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael G. Erickson sold 406 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total transaction of $263,883.76. Following the transaction, the executive vice president owned 11,287 shares in the company, valued at $7,336,098.52. This represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,870 shares of company stock valued at $32,877,757 in the last ninety days. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Company Profile

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.