Glenview Trust co Purchases 17,761 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Glenview Trust Co. increased its stake in IDEXX Laboratories by 105.6% in Q1, owning 34,573 shares valued at approximately $14.5 million.
• Several hedge funds, including Mutual of America and Golden State Wealth Management, also significantly increased their holdings in IDEXX Laboratories, indicating a strong institutional interest in the stock.
• Analysts currently have a consensus rating of "Moderate Buy" for IDEXX Laboratories, with price targets ranging from $625 to $765, reflecting positive sentiment on the company's performance and future outlook.

Glenview Trust co grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 105.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,573 shares of the company's stock after buying an additional 17,761 shares during the quarter. Glenview Trust co's holdings in IDEXX Laboratories were worth $14,519,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of IDXX. Balyasny Asset Management L.P. grew its stake in shares of IDEXX Laboratories by 230.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,455 shares of the company's stock valued at $1,015,000 after buying an additional 1,712 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of IDEXX Laboratories by 4.5% in the fourth quarter. Lazard Asset Management LLC now owns 7,777 shares of the company's stock worth $3,214,000 after purchasing an additional 338 shares during the last quarter. OMERS ADMINISTRATION Corp grew its stake in shares of IDEXX Laboratories by 6.0% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 6,880 shares of the company's stock worth $2,844,000 after purchasing an additional 389 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of IDEXX Laboratories in the fourth quarter worth about $317,000. Finally, Numerai GP LLC bought a new stake in shares of IDEXX Laboratories in the fourth quarter worth about $2,820,000. 87.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IDXX. Morgan Stanley raised 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. Jefferies Financial Group began coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price on the stock. Leerink Partners raised their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. raised 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, IDEXX Laboratories has an average rating of "Moderate Buy" and a consensus target price of $649.44.

IDEXX Laboratories Stock Down 0.6%

IDXX traded down $4.02 on Friday, hitting $641.14. The company had a trading volume of 317,919 shares, compared to its average volume of 372,779. 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 52-week low of $356.14 and a 52-week high of $688.12. The stock has a fifty day simple moving average of $603.59 and a 200-day simple moving average of $513.29. The firm has a market capitalization of $51.29 billion, a P/E ratio of 53.38, a P/E/G ratio of 4.18 and a beta of 1.56.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the business posted $2.44 earnings per share. IDEXX Laboratories's quarterly revenue was up 10.6% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, equities analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Activity

In other news, Director M Anne Szostak sold 2,187 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the completion of the transaction, the director directly owned 262 shares in the company, valued at approximately $169,600.46. This trade represents a 89.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nimrata Hunt sold 7,143 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the transaction, the executive vice president owned 18,007 shares of the company's stock, valued at $11,352,153.01. The trade was a 28.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is currently 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.