Nicola Wealth Management LTD. Makes New Investment in IDEXX Laboratories, Inc. $IDXX

Key Points

• Nicola Wealth Management LTD. has purchased 39,300 shares of IDEXX Laboratories, Inc., totaling approximately $16.5 million, making IDEXX 1.6% of their portfolio.
• Several analysts have set optimistic price targets for IDEXX, with price expectations ranging from $600 to $700, and a consensus rating of "Moderate Buy" from the investment community.
• IDEXX Laboratories reported a quarterly EPS of $3.63, exceeding the consensus estimate by $0.35, and indicated year-over-year revenue growth of 10.6%.

Nicola Wealth Management LTD. purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 39,300 shares of the company's stock, valued at approximately $16,504,000. IDEXX Laboratories makes up 1.6% of Nicola Wealth Management LTD.'s holdings, making the stock its 23rd largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. MorganRosel Wealth Management LLC bought a new stake in shares of IDEXX Laboratories during the first quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after acquiring an additional 30 shares in the last quarter. WPG Advisers LLC bought a new stake in shares of IDEXX Laboratories during the first quarter valued at approximately $37,000. Bank of Jackson Hole Trust increased its holdings in shares of IDEXX Laboratories by 328.6% during the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock valued at $39,000 after acquiring an additional 69 shares in the last quarter. Finally, Retirement Wealth Solutions LLC increased its holdings in shares of IDEXX Laboratories by 40.0% during the first quarter. Retirement Wealth Solutions LLC now owns 105 shares of the company's stock valued at $44,000 after acquiring an additional 30 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Piper Sandler restated a "neutral" rating and set a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Leerink Partners raised their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Stifel Nicolaus set a $640.00 price target on shares of IDEXX Laboratories in a research report on Monday, August 4th. JPMorgan Chase & Co. raised their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $649.44.

IDEXX Laboratories Stock Up 1.1%

IDXX opened at $645.16 on Friday. The company has a 50 day moving average of $601.69 and a 200 day moving average of $512.04. The company has a market cap of $51.62 billion, a PE ratio of 53.72, a price-to-earnings-growth ratio of 4.13 and a beta of 1.56. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $3.28 by $0.35. The company 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%. IDEXX Laboratories's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Buying and Selling

In other news, EVP Sharon E. Underberg sold 5,450 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $651.60, for a total transaction 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 $4,011,249.60. The trade was a 46.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director M Anne Szostak sold 2,187 shares of the business's stock in a transaction on Friday, August 22nd. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,057 shares of company stock worth $34,293,468 in the last 90 days. 0.98% of the stock is currently owned by company 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.

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