Legal & General Group Plc Trims Stock Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Legal & General Group Plc trimmed its IDEXX Laboratories stake by 0.7% in the fourth quarter, selling 4,921 shares and ending with 670,614 shares valued at about $453.7 million.
• IDEXX reported strong quarterly results, with EPS of $3.47 beating estimates and revenue of $1.14 billion topping forecasts; revenue rose 14.3% year over year.
• Despite some insider selling and recent analyst price-target cuts, Wall Street still rates the stock Moderate Buy, with a consensus price target of $751.

Legal & General Group Plc cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 670,614 shares of the company's stock after selling 4,921 shares during the quarter. Legal & General Group Plc owned about 0.84% of IDEXX Laboratories worth $453,690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC raised its holdings in shares of IDEXX Laboratories by 1.5% in the 4th quarter. New Age Alpha Advisors LLC now owns 4,127 shares of the company's stock worth $2,792,000 after purchasing an additional 61 shares during the period. Simplify Asset Management Inc. raised its holdings in shares of IDEXX Laboratories by 21.7% in the 4th quarter. Simplify Asset Management Inc. now owns 584 shares of the company's stock worth $395,000 after purchasing an additional 104 shares during the period. Swedbank AB raised its holdings in shares of IDEXX Laboratories by 0.3% in the 4th quarter. Swedbank AB now owns 37,962 shares of the company's stock worth $25,682,000 after purchasing an additional 130 shares during the period. Prospera Financial Services Inc purchased a new position in shares of IDEXX Laboratories in the 4th quarter worth about $4,188,000. Finally, Coldstream Capital Management Inc. raised its holdings in shares of IDEXX Laboratories by 8.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,893 shares of the company's stock worth $1,281,000 after purchasing an additional 146 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $559.37 on Tuesday. The company has a market cap of $44.12 billion, a P/E ratio of 41.19, a PEG ratio of 3.25 and a beta of 1.58. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 1.12. IDEXX Laboratories, Inc. has a one year low of $496.61 and a one year high of $769.98. The business's 50-day simple moving average is $566.27 and its 200 day simple moving average is $640.99.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its 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. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate 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 period last year, the business posted $2.91 EPS. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. On average, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 14.68 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jonathan Jay Mazelsky sold 23,326 shares of the firm's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $657.55, for a total transaction of $15,338,011.30. Following the sale, the chief executive officer directly 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 sale 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 shares were sold at an average price of $634.57, for a total value of $1,115,574.06. Following the sale, the executive vice president owned 18,141 shares in the company, valued at approximately $11,511,734.37. The trade was a 8.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 27,777 shares of company stock worth $18,235,113. Company insiders own 0.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IDXX shares. Piper Sandler cut their price objective on IDEXX Laboratories from $775.00 to $750.00 and set a "neutral" rating on the stock in a report on Monday, February 9th. Barclays cut their price objective on IDEXX Laboratories from $850.00 to $800.00 and set an "overweight" rating on the stock in a report on Thursday, February 5th. Weiss Ratings downgraded IDEXX Laboratories from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. UBS Group cut their price objective on IDEXX Laboratories from $730.00 to $640.00 and set a "neutral" rating on the stock in a report on Tuesday, April 28th. Finally, Stifel Nicolaus dropped their target price on IDEXX Laboratories from $775.00 to $675.00 and set a "buy" rating on the stock in a report on Tuesday, March 31st. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, IDEXX Laboratories currently has a consensus rating of "Moderate Buy" and a consensus price target of $751.00.

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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