HTG Investment Advisors Inc. Buys Shares of 404 IDEXX Laboratories, Inc. $IDXX

HTG Investment Advisors Inc. purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 404 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. acquired a new stake in shares of IDEXX Laboratories during the 1st quarter valued at approximately $221,000. Merit Financial Group LLC increased its stake in IDEXX Laboratories by 148.9% in the 1st quarter. Merit Financial Group LLC now owns 1,894 shares of the company’s stock valued at $795,000 after purchasing an additional 1,133 shares in the last quarter. UMB Bank n.a. raised its holdings in IDEXX Laboratories by 2.3% during the first quarter. UMB Bank n.a. now owns 4,948 shares of the company’s stock worth $2,078,000 after purchasing an additional 109 shares during the last quarter. Wedmont Private Capital boosted its position in IDEXX Laboratories by 14.7% during the first quarter. Wedmont Private Capital now owns 2,921 shares of the company’s stock worth $1,142,000 after purchasing an additional 374 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its holdings in IDEXX Laboratories by 12.9% in the first quarter. Miracle Mile Advisors LLC now owns 550 shares of the company’s stock valued at $231,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In related news, CEO Jonathan Jay Mazelsky sold 29,260 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $631.98, for a total value of $18,491,734.80. Following the sale, the chief executive officer directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Lane sold 8,411 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the transaction, the executive vice president directly owned 7,132 shares of the company’s stock, valued at $4,477,041.68. This trade represents a 54.11% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

IDXX has been the topic of several recent research reports. BTIG Research boosted 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. UBS Group assumed coverage on shares of IDEXX Laboratories in a research report on Wednesday, October 1st. They set a “neutral” rating and a $720.00 target price for the company. Morgan Stanley increased their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an “overweight” rating in a research report on Friday, August 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of IDEXX Laboratories in a research note on Saturday, September 27th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $700.00 target price (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $656.50.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $627.78 on Tuesday. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $688.12. The company’s 50 day simple moving average is $635.75 and its 200 day simple moving average is $537.82. The company has a market capitalization of $50.22 billion, a price-to-earnings ratio of 52.27, a PEG ratio of 4.09 and a beta of 1.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the firm posted $2.44 EPS. IDEXX Laboratories’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. On average, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current 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.