Truist Financial Corp Sells 1,993 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Truist Financial trimmed its stake in IDEXX by 8.8%, selling 1,993 shares and leaving it with 20,598 shares valued at about $13.94 million at quarter end.
• IDXX beat quarterly estimates with $3.47 EPS (vs. $3.41 consensus) and $1.14B revenue, and set FY2026 guidance of $14.45–$14.90 EPS (consensus ~$14.64).
• Insider selling has been heavy: executives (including the CEO and an EVP) sold a combined 45,957 shares worth roughly $29.9 million in the past three months, leaving insiders with about 0.79% ownership.

Truist Financial Corp lessened its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,598 shares of the company's stock after selling 1,993 shares during the quarter. Truist Financial Corp's holdings in IDEXX Laboratories were worth $13,935,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of IDEXX Laboratories by 41.7% in 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 buying an additional 605,290 shares in the last quarter. JPMorgan Chase & Co. increased its stake in IDEXX Laboratories by 60.0% during the third quarter. JPMorgan Chase & Co. now owns 869,930 shares of the company's stock worth $555,802,000 after acquiring an additional 326,348 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in IDEXX Laboratories during the third quarter valued at approximately $143,730,000. Principal Financial Group Inc. raised its position 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 valued at $840,638,000 after purchasing an additional 187,967 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of IDEXX Laboratories by 14.0% in the 3rd quarter. Invesco Ltd. now owns 1,320,263 shares of the company's stock valued at $843,503,000 after purchasing an additional 161,782 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Down 1.2%

Shares of NASDAQ IDXX opened at $572.20 on Friday. IDEXX Laboratories, Inc. has a 52-week low of $485.40 and a 52-week high of $769.98. The firm has a market capitalization of $45.14 billion, a price-to-earnings ratio of 42.14, a PEG ratio of 3.37 and a beta of 1.58. The stock has a 50 day moving average price of $585.67 and a 200 day moving average price of $649.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.90 and a current ratio of 1.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.41 by $0.06. IDEXX Laboratories had a return on equity of 70.87% and a net margin of 24.63%.The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the business posted $2.91 EPS. IDEXX Laboratories'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. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 14.64 earnings per share for the current year.

Insider Transactions at IDEXX Laboratories

In related news, EVP George Fennell sold 11,345 shares of the company's stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $646.72, for a total value of $7,337,038.40. Following the completion of the sale, the executive vice president directly owned 9,823 shares of the company's stock, valued at $6,352,730.56. This represents a 53.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 23,326 shares of the 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 transaction, the chief executive officer owned 83,606 shares in the company, valued at approximately $54,975,125.30. The trade was a 21.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,957 shares of company stock valued at $29,862,109 over the last three months. 0.79% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group dropped their target price on IDEXX Laboratories from $730.00 to $640.00 and set a "neutral" rating for the company in a report on Tuesday, April 28th. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $775.00 to $675.00 and set a "buy" rating for the company 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 note on Saturday, April 25th. BTIG Research reduced their target price on shares of IDEXX Laboratories from $830.00 to $800.00 and set a "buy" rating on the stock in a research note on Tuesday, February 3rd. Finally, Barclays lowered their target price on shares of IDEXX Laboratories from $850.00 to $800.00 and set an "overweight" rating for the company in a report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.

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.