IDEXX Laboratories, Inc. $IDXX Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 156.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,451,390 shares of the company’s stock after acquiring an additional 884,808 shares during the period. Bank of New York Mellon Corp’s holdings in IDEXX Laboratories were worth $778,439,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in IDEXX Laboratories during the second quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. grew its position in 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 during the period. Ameritas Advisory Services LLC purchased a new stake in IDEXX Laboratories during the second quarter valued at about $36,000. WPG Advisers LLC purchased a new stake in IDEXX Laboratories during the first quarter valued at about $37,000. Finally, Bank of Jackson Hole Trust grew its position in 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 during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP Michael G. Erickson sold 406 shares of IDEXX Laboratories stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $649.96, for a total transaction of $263,883.76. Following the sale, the executive vice president directly owned 11,287 shares of the company’s stock, valued at approximately $7,336,098.52. The trade was a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director M Anne Szostak sold 2,187 shares of IDEXX Laboratories stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $647.33, for a total value of $1,415,710.71. Following the sale, the director directly owned 262 shares in the company, valued at approximately $169,600.46. The trade was a 89.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 54,057 shares of company stock valued at $34,293,468. Company insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. UBS Group assumed coverage on IDEXX Laboratories in a research report on Wednesday, October 1st. They set a “neutral” rating and a $720.00 price target for the company. Stifel Nicolaus set a $775.00 price target on IDEXX Laboratories in a research report on Monday. Morgan Stanley boosted their price target on IDEXX Laboratories from $722.00 to $765.00 and gave the company an “overweight” rating in a research report on Friday, August 15th. Wall Street Zen cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 28th. Finally, Leerink Partners set a $785.00 price objective on IDEXX Laboratories in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $688.50.

IDEXX Laboratories Trading Up 14.8%

Shares of IDXX opened at $722.94 on Tuesday. The stock’s 50-day moving average is $639.53 and its two-hundred day moving average is $571.97. The stock has a market cap of $57.84 billion, a PE ratio of 60.19, a P/E/G ratio of 4.06 and a beta of 1.58. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $735.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Monday, November 3rd. The company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.26. 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 for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm posted $2.80 earnings per share. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Equities analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share 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.