Camden National Bank Makes New $240,000 Investment in IDEXX Laboratories, Inc. $IDXX

Camden National Bank acquired a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 447 shares of the company’s stock, valued at approximately $240,000.

Several other institutional investors also recently modified their holdings of IDXX. Opal Wealth Advisors LLC purchased a new stake in IDEXX Laboratories in the second quarter worth about $29,000. Ameritas Advisory Services LLC bought a new stake in shares of IDEXX Laboratories in the 2nd quarter worth approximately $36,000. NewSquare Capital LLC grew its stake in shares of IDEXX Laboratories by 87.5% in the 2nd quarter. NewSquare Capital LLC now owns 75 shares of the company’s stock worth $40,000 after buying an additional 35 shares during the last quarter. WPG Advisers LLC bought a new position in IDEXX Laboratories during the 1st quarter valued at approximately $37,000. Finally, Bank of Jackson Hole Trust increased 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 buying an additional 69 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Trading Up 5.3%

NASDAQ:IDXX opened at $725.91 on Friday. The company has a market cap of $57.96 billion, a PE ratio of 60.44, a price-to-earnings-growth ratio of 4.06 and a beta of 1.62. 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 50 day simple moving average of $656.12 and a two-hundred day simple moving average of $596.65. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $735.59.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, November 3rd. The company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.08. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the business posted $2.80 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on IDXX shares. 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, November 4th. Wall Street Zen upgraded shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of IDEXX Laboratories in a research report on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $830.00 target price on shares of IDEXX Laboratories in a report on Tuesday, November 4th. Finally, Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $730.50.

Insider Activity at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 9,425 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $703.34, for a total transaction of $6,628,979.50. Following the completion of the sale, the executive vice president owned 21,149 shares of the company’s stock, valued at $14,874,937.66. This represents a 30.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.98% of the stock is owned by insiders.

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.