PFG Advisors Boosts Stake in IDEXX Laboratories, Inc. $IDXX

PFG Advisors increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,571 shares of the company’s stock after purchasing an additional 1,196 shares during the quarter. PFG Advisors’ holdings in IDEXX Laboratories were worth $6,206,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in IDEXX Laboratories in the second quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of IDEXX Laboratories by 55.6% in the 1st 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 period. Ameritas Advisory Services LLC bought a new position in shares of IDEXX Laboratories in the 2nd quarter worth about $36,000. WPG Advisers LLC bought a new position in shares of IDEXX Laboratories in the 1st quarter worth about $37,000. Finally, Bank of Jackson Hole Trust lifted its position in IDEXX Laboratories by 328.6% during the 1st 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. 87.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IDXX shares. Piper Sandler restated a “neutral” rating and issued a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Wall Street Zen raised IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Morgan Stanley raised their price objective on IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research report on Tuesday. BTIG Research lifted their price objective on IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, UBS Group increased their target price on IDEXX Laboratories from $710.00 to $750.00 and gave the stock a “neutral” rating in a research note on Tuesday. One investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $730.50.

IDEXX Laboratories Stock Down 0.7%

IDXX stock opened at $708.45 on Friday. The stock has a market capitalization of $56.57 billion, a P/E ratio of 58.99, a P/E/G ratio of 4.06 and a beta of 1.62. 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, Inc. has a 1-year low of $356.14 and a 1-year high of $735.00. The business has a fifty day moving average price of $645.28 and a 200-day moving average price of $579.33.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Monday, November 3rd. The company reported $3.40 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $2.80 EPS. IDEXX Laboratories’s revenue for the quarter 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.

Insider Activity at IDEXX Laboratories

In related news, EVP Michael G. Erickson sold 406 shares of the firm’s 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 sale, the executive vice president owned 11,287 shares in the company, valued at approximately $7,336,098.52. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director M Anne Szostak sold 2,187 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the completion of the sale, the director directly owned 262 shares of the company’s stock, valued at approximately $169,600.46. This trade represents a 89.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,793 shares of company stock worth $2,467,430 over the last quarter. Company insiders own 0.98% of the company’s stock.

About IDEXX Laboratories

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.