First Citizens Bank & Trust Co. Purchases 5,315 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• First Citizens Bank & Trust Co. increased its stake in IDEXX Laboratories by 36.6%, acquiring an additional 5,315 shares, bringing its total holdings to 19,851 shares valued at approximately $10.65 million.
• Insiders of IDEXX Laboratories sold a total of 54,057 shares worth about $34.29 million in the last 90 days, indicating a significant reduction in their stakes.
• IDEXX Laboratories recently reported earnings per share (EPS) of $3.63 for the quarter, surpassing analysts' expectations and reflecting a year-over-year revenue growth of 10.6%.

First Citizens Bank & Trust Co. increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 36.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,851 shares of the company's stock after acquiring an additional 5,315 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in IDEXX Laboratories were worth $10,647,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. MorganRosel Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the 1st quarter worth $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of IDEXX Laboratories in the 2nd quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in IDEXX Laboratories by 55.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after acquiring an additional 30 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of IDEXX Laboratories during the second quarter valued at approximately $36,000. Finally, WPG Advisers LLC purchased a new position in shares of IDEXX Laboratories in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

Insider Activity at IDEXX Laboratories

In related news, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories stock in a transaction on 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 completion of the transaction, 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 is accessible through this hyperlink. Also, Director M Anne Szostak sold 2,187 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the transaction, the director owned 262 shares of the company's stock, valued at $169,600.46. This trade represents a 89.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,057 shares of company stock worth $34,293,468 over the last 90 days. 0.98% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $633.26 on Thursday. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $688.12. The stock's fifty day moving average is $638.91 and its two-hundred day moving average is $554.07. The company has a market capitalization of $50.66 billion, a P/E ratio of 52.73, a P/E/G ratio of 4.12 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 (NASDAQ:IDXX - Get Free Report) last posted 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. The firm had revenue of $1.11 billion during 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 for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Equities analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IDXX shares. Morgan Stanley upped their price target on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. Piper Sandler reiterated a "neutral" rating and issued a $700.00 target price (up previously from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a research report on Monday, August 4th. JPMorgan Chase & Co. upped their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, Wall Street Zen lowered IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, IDEXX Laboratories presently has an average rating of "Moderate Buy" and a consensus price target of $656.50.

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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