NewEdge Wealth LLC Acquires 3,629 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• NewEdge Wealth LLC increased its IDEXX Laboratories stake by 122.3% in the fourth quarter, buying 3,629 additional shares and bringing its total holdings to 6,597 shares worth about $4.46 million.
• Insider selling has been notable, including recent sales by Director Sophie V. Vandebroek and EVP Nimrata Hunt, with insiders selling 34,612 shares worth $22.5 million over the last three months.
• IDEXX reported stronger-than-expected quarterly results, posting EPS of $3.47 versus estimates of $3.41 and revenue of $1.14 billion, while analysts currently rate the stock a Moderate Buy with an average price target of $751.

NewEdge Wealth LLC raised its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 122.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,597 shares of the company's stock after buying an additional 3,629 shares during the period. NewEdge Wealth LLC's holdings in IDEXX Laboratories were worth $4,463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in IDXX. Bank of New York Mellon Corp lifted its stake in shares of IDEXX Laboratories by 41.7% in the third quarter. Bank of New York Mellon Corp now owns 2,056,680 shares of the company's stock valued at $1,313,992,000 after buying an additional 605,290 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of IDEXX Laboratories by 60.0% in the third quarter. JPMorgan Chase & Co. now owns 869,930 shares of the company's stock valued at $555,802,000 after buying an additional 326,348 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of IDEXX Laboratories in the third quarter valued at $143,730,000. Principal Financial Group Inc. lifted its stake in shares of IDEXX Laboratories by 16.7% in the third quarter. Principal Financial Group Inc. now owns 1,315,722 shares of the company's stock valued at $840,638,000 after buying an additional 187,967 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of IDEXX Laboratories by 14.0% in the third quarter. Invesco Ltd. now owns 1,320,263 shares of the company's stock valued at $843,503,000 after buying an additional 161,782 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

Insider Activity at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 1,464 shares of the firm's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $628.62, for a total transaction of $920,299.68. Following the completion of the sale, the director owned 648 shares in the company, valued at approximately $407,345.76. This trade represents a 69.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 $11,511,734.37. This trade represents a 8.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 34,612 shares of company stock worth $22,525,070. 0.79% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Stock Down 5.0%

IDXX opened at $532.00 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.12 and a quick ratio of 0.82. The company's 50-day moving average is $581.15 and its 200 day moving average is $648.62. IDEXX Laboratories, Inc. has a fifty-two week low of $496.61 and a fifty-two week high of $769.98. The firm has a market capitalization of $41.96 billion, a P/E ratio of 39.18, a PEG ratio of 3.26 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings results 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. 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 for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm earned $2.91 earnings per share. The firm's 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. Research analysts expect that IDEXX Laboratories, Inc. will post 14.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on IDXX shares. BTIG Research dropped their price target on shares of IDEXX Laboratories from $830.00 to $800.00 and set a "buy" rating on the stock in a research report on Tuesday, February 3rd. Stifel Nicolaus dropped 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. Wall Street Zen lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Weiss Ratings reissued a "hold (c+)" rating on shares of IDEXX Laboratories in a research report on Monday, April 27th. Finally, Citigroup started coverage on shares of IDEXX Laboratories in a research report on Wednesday, April 15th. They set a "neutral" rating and a $650.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, IDEXX Laboratories presently has an average rating of "Moderate Buy" and an average price target of $751.00.

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.

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.