The Manufacturers Life Insurance Company Has $26.08 Million Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• The Manufacturers Life Insurance Company reduced its holdings in IDEXX Laboratories by 23.4%, selling 18,930 shares during the first quarter, now owning 62,110 shares worth approximately $26 million.
• Insider selling has occurred, with Michael Lane (EVP) selling 8,411 shares at an average price of $627.74, and M Anne Szostak (Director) selling 2,187 shares at $647.33.
• Analysts have raised target prices for IDEXX Laboratories, with BTIG Research increasing theirs from $545 to $785, while the consensus price target stands at $649.44.

The Manufacturers Life Insurance Company trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 23.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 62,110 shares of the company's stock after selling 18,930 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of IDEXX Laboratories worth $26,083,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sage Mountain Advisors LLC grew its position in shares of IDEXX Laboratories by 3.8% during the 1st quarter. Sage Mountain Advisors LLC now owns 635 shares of the company's stock valued at $267,000 after buying an additional 23 shares during the last quarter. PDS Planning Inc boosted its stake in IDEXX Laboratories by 3.9% in 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 period. King Luther Capital Management Corp grew its holdings 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 purchasing an additional 24 shares during the last quarter. Bigelow Investment Advisors LLC raised its position in shares of IDEXX Laboratories by 1.9% during the 1st quarter. Bigelow Investment Advisors LLC now owns 1,420 shares of the company's stock worth $596,000 after purchasing an additional 27 shares during the period. Finally, Wedbush Securities Inc. lifted its holdings in shares of IDEXX Laboratories by 1.3% in the 1st quarter. Wedbush Securities Inc. now owns 2,145 shares of the company's stock worth $901,000 after purchasing an additional 28 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Michael G. Erickson sold 406 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total value of $263,883.76. Following the transaction, the executive vice president owned 11,287 shares in the company, valued at approximately $7,336,098.52. The trade was a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sharon E. Underberg sold 5,450 shares of the firm's 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 sale, the executive vice president directly owned 6,156 shares of the company's stock, valued at approximately $4,011,249.60. This represents a 46.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,057 shares of company stock valued at $34,293,468 in the last quarter. 0.98% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on IDXX. Stifel Nicolaus set a $640.00 price objective on IDEXX Laboratories in a research note on Monday, August 4th. Morgan Stanley upped their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on shares of 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 upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note 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 issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $649.44.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX traded up $2.55 during mid-day trading on Friday, reaching $642.99. 370,390 shares of the company traded hands, compared to its average volume of 704,564. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $688.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. The firm has a market cap of $51.44 billion, a PE ratio of 53.54, a price-to-earnings-growth ratio of 4.11 and a beta of 1.56. The stock has a fifty day simple moving average of $590.99 and a 200-day simple moving average of $505.39.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping analysts' consensus estimates of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm posted $2.44 earnings per share. The firm's revenue for the quarter 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. Equities research analysts anticipate 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.