IDEXX Laboratories, Inc. $IDXX Shares Sold by Glenmede Trust Co. NA

Key Points

• Glenmede Trust Co. NA cut its IDEXX Laboratories stake by 15.6% in the first quarter, selling 2,797 shares and retaining 15,104 shares valued at approximately $8.5 million.
• Institutional investors and hedge funds own 87.84% of IDEXX’s outstanding shares, with several major firms—including State Street, Geode Capital and Invesco—boosting their positions.
• IDEXX exceeded quarterly expectations, reporting $3.47 in EPS and $1.14 billion in revenue, while revenue rose 14.3% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $749, despite some recent target and rating downgrades.

Glenmede Trust Co. NA lessened its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 15.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,104 shares of the company's stock after selling 2,797 shares during the period. Glenmede Trust Co. NA's holdings in IDEXX Laboratories were worth $8,487,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Elyxium Wealth LLC acquired a new stake in shares of IDEXX Laboratories during the fourth quarter worth $3,666,459,000. State Street Corp increased its position in shares of IDEXX Laboratories by 4.0% in the 4th quarter. State Street Corp now owns 3,656,626 shares of the company's stock valued at $2,473,817,000 after acquiring an additional 138,956 shares during the period. J. Stern & Co. LLP raised its stake in IDEXX Laboratories by 23,694.7% in the 4th quarter. J. Stern & Co. LLP now owns 2,653,351 shares of the company's stock worth $1,795,072,000 after acquiring an additional 2,642,200 shares during the last quarter. Geode Capital Management LLC raised its stake in IDEXX Laboratories by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,583,939 shares of the company's stock worth $1,749,380,000 after acquiring an additional 86,263 shares during the last quarter. Finally, Invesco Ltd. lifted its position in IDEXX Laboratories by 13.8% during the 4th quarter. Invesco Ltd. now owns 1,502,218 shares of the company's stock worth $1,016,296,000 after acquiring an additional 181,955 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $567.84 on Tuesday. IDEXX Laboratories, Inc. has a one year low of $518.55 and a one year high of $769.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 1.12. The firm has a market cap of $44.79 billion, a price-to-earnings ratio of 41.81, a PEG ratio of 3.06 and a beta of 1.54. The firm's fifty day moving average is $557.53 and its two-hundred day moving average is $588.43.

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 for the quarter, beating analysts' consensus estimates of $3.41 by $0.06. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. IDEXX Laboratories had a return on equity of 70.87% and a net margin of 24.63%.The company's revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $2.91 EPS. Research analysts expect that IDEXX Laboratories, Inc. will post 14.68 EPS for the current year.

Analysts Set New Price Targets

IDXX has been the topic of several research analyst reports. UBS Group dropped their price target on IDEXX Laboratories from $640.00 to $620.00 and set a "neutral" rating on the stock in a research note on Monday, July 27th. Weiss Ratings raised IDEXX Laboratories from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 29th. Citigroup began coverage on IDEXX Laboratories in a report on Wednesday, April 15th. They set a "neutral" rating and a $650.00 target price for the company. Finally, Wall Street Zen lowered IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $749.00.

About IDEXX Laboratories

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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