Northern Trust Corp Has $380.08 Million Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Northern Trust Corp reduced its stake in IDEXX Laboratories by 0.9%, selling 7,807 shares and now holding approximately 1.13% of the company valued at $380.08 million.
• Analysts have raised their price targets for IDEXX Laboratories, with estimates ranging from $600 to $785, reflecting a strong consensus rating of "Moderate Buy" with a price target of $649.44.
• In recent insider trading, EVP Michael Lane sold 8,411 shares for over $5 million, representing a 54.11% decrease in his position, while another EVP, Nimrata Hunt, also sold shares, showcasing significant insider activity.

Northern Trust Corp trimmed its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 905,067 shares of the company's stock after selling 7,807 shares during the period. Northern Trust Corp owned 1.13% of IDEXX Laboratories worth $380,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new position in IDEXX Laboratories during the first quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after buying an additional 30 shares during the last quarter. Colonial Trust Co SC increased its holdings in IDEXX Laboratories by 84.8% during the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after buying an additional 39 shares during the last quarter. Bank of Jackson Hole Trust increased its holdings in IDEXX Laboratories by 328.6% during the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after buying an additional 69 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its holdings in IDEXX Laboratories by 540.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after buying an additional 81 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at IDEXX Laboratories

In other news, CEO Jonathan Jay Mazelsky sold 29,260 shares of IDEXX Laboratories stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total transaction of $18,491,734.80. Following the completion of the sale, the chief executive officer owned 83,311 shares of the company's stock, valued at approximately $52,650,885.78. This trade represents a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael G. Erickson sold 406 shares of IDEXX Laboratories stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $649.96, for a total value of $263,883.76. Following the sale, the executive vice president directly owned 11,287 shares of the company's stock, valued at $7,336,098.52. This represents a 3.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,870 shares of company stock valued at $32,877,757. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Stock Performance

IDXX stock traded down $4.76 during midday trading on Monday, reaching $640.79. 65,087 shares of the company were exchanged, compared to its average volume of 717,669. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year 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 capitalization of $51.26 billion, a price-to-earnings ratio of 53.23, a price-to-earnings-growth ratio of 4.18 and a beta of 1.49. The business has a 50-day moving average price of $569.94 and a two-hundred day moving average price of $494.38.

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, 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 company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm earned $2.44 earnings per share. The company's revenue was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analysts Set New Price Targets

IDXX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. BTIG Research lifted their price objective on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Morgan Stanley lifted their price objective 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. Finally, Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective for the company. One equities 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 stock. According to data from MarketBeat, IDEXX Laboratories currently has a consensus rating of "Moderate Buy" and an average price target of $649.44.

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.