Norway Savings Bank Buys 294 Shares of IDEXX Laboratories, Inc. $IDXX

Norway Savings Bank boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,732 shares of the company’s stock after purchasing an additional 294 shares during the quarter. Norway Savings Bank’s holdings in IDEXX Laboratories were worth $2,002,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IDXX. MorganRosel Wealth Management LLC bought a new stake in IDEXX Laboratories in the first quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of IDEXX Laboratories by 55.6% in 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 purchased a new position in IDEXX Laboratories in the first quarter valued at about $37,000. Bank of Jackson Hole Trust grew its stake in IDEXX Laboratories by 328.6% in the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company’s stock valued at $39,000 after purchasing an additional 69 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in shares of IDEXX Laboratories by 108.0% during the first quarter. Cornerstone Planning Group LLC now owns 104 shares of the company’s stock valued at $44,000 after acquiring an additional 54 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. Leerink Partners upped their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. Morgan Stanley raised their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the company an “overweight” rating in a report on Friday, August 15th. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a research report on Monday, August 4th. Finally, Wall Street Zen upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th. 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $649.44.

Insiders Place Their Bets

In related news, CEO Jonathan Jay Mazelsky sold 29,260 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total value of $18,491,734.80. Following the completion of the transaction, the chief executive officer directly owned 83,311 shares of the company’s stock, valued at $52,650,885.78. This represents a 25.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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. Over the last three months, insiders sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is owned by company insiders.

IDEXX Laboratories Price Performance

IDXX stock opened at $641.14 on Friday. The stock has a 50-day moving average price of $603.59 and a two-hundred day moving average price of $513.29. 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. The company has a market cap of $51.29 billion, a PE ratio of 53.38, a price-to-earnings-growth ratio of 4.18 and a beta of 1.56.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Monday, August 4th. The company reported $3.63 earnings per share 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 return on equity of 64.42% and a net margin of 24.41%.The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

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.