Glenview Trust Co Sells 5,942 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Glenview Trust Co cut its IDEXX Laboratories stake by 14.6% in the fourth quarter, selling 5,942 shares and leaving it with 34,787 shares valued at about $23.5 million.
• IDEXX reported stronger-than-expected quarterly results, posting $3.47 EPS on revenue of $1.14 billion, both above analyst estimates, with revenue up 14.3% year over year.
• Wall Street sentiment remains mixed but constructive: several analysts trimmed price targets or downgraded ratings, yet the stock still carries a Moderate Buy consensus with an average target price of $751.

Glenview Trust Co lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 14.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,787 shares of the company's stock after selling 5,942 shares during the period. Glenview Trust Co's holdings in IDEXX Laboratories were worth $23,534,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Beacon Investment Advisory Services Inc. grew its position in IDEXX Laboratories by 11.9% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 62,951 shares of the company's stock valued at $42,588,000 after purchasing an additional 6,710 shares in the last quarter. Nordea Investment Management AB grew its position in IDEXX Laboratories by 114.1% in the fourth quarter. Nordea Investment Management AB now owns 16,597 shares of the company's stock valued at $11,283,000 after purchasing an additional 8,845 shares in the last quarter. New York State Common Retirement Fund grew its position in IDEXX Laboratories by 6.8% in the third quarter. New York State Common Retirement Fund now owns 60,225 shares of the company's stock valued at $38,477,000 after purchasing an additional 3,820 shares in the last quarter. Mediolanum International Funds Ltd grew its position in IDEXX Laboratories by 14.5% in the third quarter. Mediolanum International Funds Ltd now owns 38,761 shares of the company's stock valued at $24,441,000 after purchasing an additional 4,909 shares in the last quarter. Finally, Procyon Advisors LLC bought a new position in IDEXX Laboratories in the fourth quarter valued at $1,966,000. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $559.37 on Monday. The firm has a 50-day moving average of $566.51 and a 200-day moving average of $642.13. IDEXX Laboratories, Inc. has a one year low of $496.61 and a one year high of $769.98. The company has a market cap of $44.12 billion, a PE ratio of 41.19, a price-to-earnings-growth ratio of 3.25 and a beta of 1.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.12 and a quick ratio of 0.82.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $3.47 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.12 billion. During the same quarter last year, the firm posted $2.91 EPS. The company's quarterly revenue was up 14.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. As a group, equities analysts forecast that IDEXX Laboratories, Inc. will post 14.68 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of IDEXX Laboratories from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. UBS Group decreased their price objective on shares of IDEXX Laboratories from $730.00 to $640.00 and set a "neutral" rating for the company in a research report on Tuesday, April 28th. Wall Street Zen downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Stifel Nicolaus decreased their price objective on shares of IDEXX Laboratories from $775.00 to $675.00 and set a "buy" rating for the company in a research report on Tuesday, March 31st. Finally, Piper Sandler decreased their price objective 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 investment analysts have rated the stock with a Buy rating and four have issued 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 $751.00.

Insider Transactions at IDEXX Laboratories

In other news, CEO Jonathan Jay Mazelsky sold 23,326 shares of the firm's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $657.55, for a total transaction of $15,338,011.30. Following the completion of the sale, the chief executive officer owned 83,606 shares in the company, valued at approximately $54,975,125.30. This trade represents a 21.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nimrata Hunt sold 1,758 shares of the firm's stock in a transaction dated 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 sale, the executive vice president owned 18,141 shares of the company's stock, valued at approximately $11,511,734.37. This represents a 8.83% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 27,777 shares of company stock valued at $18,235,113. 0.79% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Company 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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