SVB Wealth LLC Grows Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• SVB Wealth LLC increased its IDEXX Laboratories stake by 43.8% in the fourth quarter, ending with 6,246 shares valued at about $4.23 million.
• Several other institutional investors also raised holdings, and hedge funds and institutions own 87.84% of IDEXX, underscoring strong professional ownership of the stock.
• IDEXX reported better-than-expected quarterly earnings and revenue, but recent insider sales and multiple analyst price-target cuts suggest mixed sentiment despite a Moderate Buy consensus.

SVB Wealth LLC increased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 43.8% 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 6,246 shares of the company's stock after purchasing an additional 1,901 shares during the period. SVB Wealth LLC's holdings in IDEXX Laboratories were worth $4,226,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IDXX. Vanguard Group Inc. boosted its position in shares of IDEXX Laboratories by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,962,025 shares of the company's stock worth $6,364,638,000 after acquiring an additional 86,040 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of IDEXX Laboratories by 41.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,056,680 shares of the company's stock worth $1,313,992,000 after acquiring an additional 605,290 shares in the last quarter. Invesco Ltd. raised its position in shares of IDEXX Laboratories by 14.0% during the 3rd quarter. Invesco Ltd. now owns 1,320,263 shares of the company's stock worth $843,503,000 after acquiring an additional 161,782 shares in the last quarter. Principal Financial Group Inc. lifted its stake in IDEXX Laboratories by 16.7% during the third quarter. Principal Financial Group Inc. now owns 1,315,722 shares of the company's stock worth $840,638,000 after purchasing an additional 187,967 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in 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 purchasing an additional 326,348 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

Insiders Place Their Bets

In related news, EVP George Fennell sold 11,345 shares of the business's stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $646.72, for a total value of $7,337,038.40. Following the transaction, the executive vice president owned 9,823 shares in the company, valued at $6,352,730.56. The trade was a 53.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sophie V. Vandebroek sold 1,464 shares of the company's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $628.62, for a total value of $920,299.68. Following the sale, the director directly owned 648 shares of the company's stock, valued at approximately $407,345.76. This represents a 69.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 45,957 shares of company stock valued at $29,862,109. 0.79% of the stock is owned by insiders.

IDEXX Laboratories Price Performance

IDXX stock opened at $560.11 on Monday. The company has a current ratio of 1.12, a quick ratio of 0.82 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $44.18 billion, a P/E ratio of 41.25, a PEG ratio of 3.26 and a beta of 1.58. The business has a 50 day simple moving average of $585.67 and a 200-day simple moving average of $649.95. IDEXX Laboratories, Inc. has a twelve month low of $487.30 and a twelve month high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released 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. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. IDEXX Laboratories had a net margin of 24.63% and a return on equity of 70.87%. IDEXX Laboratories's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.91 EPS. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. As a group, equities analysts anticipate that IDEXX Laboratories, Inc. will post 14.65 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on IDXX. 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 note on Tuesday, March 31st. Wall Street Zen downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Weiss Ratings reiterated a "hold (c+)" rating on shares of IDEXX Laboratories in a research note on Monday, April 27th. Citigroup assumed coverage on shares of IDEXX Laboratories in a research report on Wednesday, April 15th. They issued a "neutral" rating and a $650.00 price target for the company. Finally, 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 note on Tuesday, April 28th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, IDEXX Laboratories has a consensus rating of "Moderate Buy" and a consensus target price 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.

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.