Federation des caisses Desjardins du Quebec Acquires 396 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Federation des caisses Desjardins du Quebec increased its holdings in IDEXX Laboratories by 10.4%, owning a total of 4,215 shares valued at approximately $1.77 million after acquiring an additional 396 shares in the first quarter.
• Wall Street analysts have optimistic forecasts for IDEXX Laboratories, with one firm raising their target price for the stock from $545 to $785 and various analysts maintaining buy ratings, resulting in a consensus rating of "Moderate Buy."
• Insider selling has been notable, with executives like EVP Sharon E. Underberg selling large quantities of stock recently; in total, insiders disposed of over $34 million worth of shares in the last three months.

Federation des caisses Desjardins du Quebec grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 10.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,215 shares of the company's stock after acquiring an additional 396 shares during the period. Federation des caisses Desjardins du Quebec's holdings in IDEXX Laboratories were worth $1,770,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Sage Mountain Advisors LLC raised its stake in shares of IDEXX Laboratories by 3.8% during the first quarter. Sage Mountain Advisors LLC now owns 635 shares of the company's stock valued at $267,000 after acquiring an additional 23 shares during the last quarter. PDS Planning Inc raised its stake in shares of IDEXX Laboratories by 3.9% during the first quarter. PDS Planning Inc now owns 641 shares of the company's stock valued at $269,000 after acquiring an additional 24 shares during the last quarter. King Luther Capital Management Corp raised its stake in shares of IDEXX Laboratories by 0.5% during the first quarter. King Luther Capital Management Corp now owns 4,896 shares of the company's stock valued at $2,056,000 after acquiring an additional 24 shares during the last quarter. Bigelow Investment Advisors LLC raised its stake in IDEXX Laboratories by 1.9% during the first quarter. Bigelow Investment Advisors LLC now owns 1,420 shares of the company's stock worth $596,000 after buying an additional 27 shares during the last quarter. Finally, Wedbush Securities Inc. raised its stake in IDEXX Laboratories by 1.3% during the first quarter. Wedbush Securities Inc. now owns 2,145 shares of the company's stock worth $901,000 after buying an additional 28 shares during the last quarter. Institutional investors own 87.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IDXX shares. Piper Sandler reissued a "neutral" rating and set a $700.00 target price (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price for the company. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. BTIG Research lifted their target price on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. 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 company's stock. According to data from MarketBeat.com, IDEXX Laboratories has a consensus rating of "Moderate Buy" and an average price target of $649.44.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP Sharon E. Underberg sold 5,450 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $651.60, for a total value of $3,551,220.00. Following the completion of the sale, the executive vice president directly owned 6,156 shares in the company, valued at approximately $4,011,249.60. This trade represents a 46.96% decrease in their ownership of the stock. The transaction 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 IDEXX Laboratories stock in a transaction dated 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 of the company's stock, valued at $7,336,098.52. This represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Trading Up 0.4%

NASDAQ:IDXX opened at $642.99 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $51.44 billion, a price-to-earnings ratio of 53.54, a PEG ratio of 4.16 and a beta of 1.56. The firm has a fifty day simple moving average of $593.22 and a two-hundred day simple moving average of $507.49. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12.

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 analysts' consensus estimates of $3.28 by $0.35. The business 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 business's quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the company posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

IDEXX Laboratories 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.

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