Kennebec Savings Bank Sells 25 Shares of IDEXX Laboratories, Inc. $IDXX

Kennebec Savings Bank cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 239 shares of the company’s stock after selling 25 shares during the quarter. Kennebec Savings Bank’s holdings in IDEXX Laboratories were worth $128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at about $29,000. MorganRosel Wealth Management LLC bought a new stake in shares of IDEXX Laboratories in the 1st quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. increased its stake 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 valued at $35,000 after acquiring an additional 30 shares during the last quarter. WPG Advisers LLC bought a new stake in shares of IDEXX Laboratories in the 1st quarter valued at about $37,000. Finally, Bank of Jackson Hole Trust increased its stake in shares of IDEXX Laboratories by 328.6% in 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 last quarter. 87.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IDXX. Wall Street Zen cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Sunday. JPMorgan Chase & Co. increased their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. UBS Group assumed coverage on IDEXX Laboratories in a research note on Wednesday. They set a “neutral” rating and a $720.00 target price for the company. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They set a “buy” rating and a $625.00 target price for the company. Finally, Morgan Stanley increased their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an “overweight” rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average target price of $656.50.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $620.11 on Thursday. The stock has a market capitalization of $49.61 billion, a P/E ratio of 51.63, a P/E/G ratio of 4.14 and a beta of 1.58. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12. The company has a 50 day moving average of $631.52 and a 200-day moving average of $531.87. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31.

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, topping the consensus estimate of $3.28 by $0.35. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Activity at IDEXX Laboratories

In other 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 transaction 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 trade represents a 25.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sharon E. Underberg sold 5,450 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the transaction, the executive vice president directly owned 6,156 shares of the company’s stock, valued at $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 ninety days, insiders sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is currently owned by corporate insiders.

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.