Fortem Financial Group LLC Takes $2.07 Million Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Fortem Financial Group disclosed a new fourth-quarter stake in IDEXX Laboratories, buying 3,057 shares valued at about $2.07 million.
• IDEXX reported better-than-expected quarterly results, with EPS of $3.47 versus $3.41 expected and revenue of $1.14 billion, up 14.3% year over year.
• Analyst sentiment remains mixed but constructive: the stock has a consensus rating of Moderate Buy with an average price target of $751, though some firms recently cut targets or downgraded the shares.

Fortem Financial Group LLC acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,057 shares of the company's stock, valued at approximately $2,068,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Virtus Advisers LLC acquired a new position in IDEXX Laboratories during the third quarter worth approximately $26,000. Park Place Capital Corp acquired a new position in IDEXX Laboratories during the fourth quarter worth approximately $29,000. J.Safra Asset Management Corp acquired a new position in IDEXX Laboratories during the third quarter worth approximately $31,000. Mowery & Schoenfeld Wealth Management LLC increased its position in IDEXX Laboratories by 58.8% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 54 shares of the company's stock worth $37,000 after purchasing an additional 20 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new position in IDEXX Laboratories during the third quarter worth approximately $35,000. Institutional investors and hedge funds own 87.84% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IDXX. Wall Street Zen lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. BTIG Research dropped their price target on shares of IDEXX Laboratories from $830.00 to $800.00 and set a "buy" rating for the company in a research report on Tuesday, February 3rd. Citigroup began coverage on shares of IDEXX Laboratories in a research report on Wednesday, April 15th. They set a "neutral" rating and a $650.00 price target for the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of IDEXX Laboratories in a research report on Monday, April 27th. Finally, Piper Sandler dropped their price target on shares of IDEXX Laboratories from $775.00 to $750.00 and set a "neutral" rating for the company in a research report on Monday, February 9th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $751.00.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $560.11 on Monday. IDEXX Laboratories, Inc. has a 52-week low of $487.30 and a 52-week high of $769.98. The firm has a fifty day moving average of $585.67 and a 200-day moving average of $649.95. The firm has a market capitalization of $44.18 billion, a P/E ratio of 41.25, a PEG ratio of 3.26 and a beta of 1.58. The company has a quick ratio of 0.82, a current ratio of 1.12 and a debt-to-equity ratio of 0.19.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.06. IDEXX Laboratories had a net margin of 24.63% and a return on equity of 70.87%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business earned $2.91 earnings per share. The business's quarterly revenue was up 14.3% compared to the same quarter last year. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. As a group, analysts predict that IDEXX Laboratories, Inc. will post 14.65 EPS for the current year.

Insider Buying and Selling

In other news, Director Sophie V. Vandebroek sold 1,464 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $628.62, for a total value of $920,299.68. Following the completion of the sale, the director owned 648 shares of the company's stock, valued at $407,345.76. This represents a 69.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nimrata Hunt sold 1,758 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $634.57, for a total transaction of $1,115,574.06. Following the completion of the sale, the executive vice president directly owned 18,141 shares of the company's stock, valued at $11,511,734.37. The trade was a 8.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 45,957 shares of company stock valued at $29,862,109. 0.79% of the stock is owned by corporate insiders.

IDEXX Laboratories Profile

IDEXX Laboratories, Inc NASDAQ: IDXX is a global developer, manufacturer and provider of diagnostic products and services primarily for the animal health, water testing and food safety markets. Headquartered in Westbrook, Maine, the company supplies in-clinic diagnostic instruments, consumables, reference laboratory testing and practice-management tools that support veterinarians, livestock and dairy producers, and utilities and food producers worldwide.

IDEXX's product portfolio includes point-of-care tests and immunoassays designed for rapid diagnosis in veterinary clinics, in-clinic chemistry and hematology analyzers, automated urinalysis systems, and digital diagnostic solutions.

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