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

Key Points

• Glenview Trust Co cut its IDEXX Laboratories position by 27.7% in the first quarter, selling 9,650 shares and leaving it with 25,137 shares valued at about $14.1 million.
• Institutional ownership remains high, with 87.84% of IDEXX stock held by institutional investors, while several smaller funds recently opened new positions.
• Analyst sentiment is mixed but still positive overall: recent firms lowered price targets and some ratings, yet the stock retains a Moderate Buy consensus with a $751 average target price.

Glenview Trust Co reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 27.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,137 shares of the company's stock after selling 9,650 shares during the period. Glenview Trust Co's holdings in IDEXX Laboratories were worth $14,124,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IDXX. SHP Wealth Management acquired a new stake in IDEXX Laboratories in the 4th quarter valued at about $26,000. Virtus Advisers LLC bought a new stake in shares of IDEXX Laboratories in the 3rd quarter worth approximately $26,000. Park Place Capital Corp bought a new stake in shares of IDEXX Laboratories in the 4th quarter worth approximately $29,000. WealthCollab LLC acquired a new stake in IDEXX Laboratories during the second quarter valued at approximately $30,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in IDEXX Laboratories during the third quarter valued at approximately $36,000. 87.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on IDXX. Stifel Nicolaus decreased their price target on shares of IDEXX Laboratories from $775.00 to $675.00 and set a "buy" rating on the stock in a research report on Tuesday, March 31st. UBS Group cut their price objective on IDEXX Laboratories from $730.00 to $640.00 and set a "neutral" rating for the company in a research report on Tuesday, April 28th. Citigroup initiated coverage on IDEXX Laboratories in a research note on Wednesday, April 15th. They set a "neutral" rating and a $650.00 price objective for the company. Wall Street Zen cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Finally, Weiss Ratings lowered IDEXX Laboratories from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, July 14th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $751.00.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $563.81 on Tuesday. The firm's 50 day simple moving average is $555.13 and its 200-day simple moving average is $598.49. The company has a market cap of $44.47 billion, a P/E ratio of 41.52, a price-to-earnings-growth ratio of 3.10 and a beta of 1.55. 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, Inc. has a fifty-two week low of $513.02 and a fifty-two week high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $3.47 EPS for the quarter, beating 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 business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm earned $2.91 EPS. The firm'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 research analysts predict that IDEXX Laboratories, Inc. will post 14.68 EPS for the current year.

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.

Want to see what other hedge funds are holding IDXX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.