Glenview Trust co Increases Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Glenview Trust co raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 105.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,573 shares of the company’s stock after purchasing an additional 17,761 shares during the period. Glenview Trust co’s holdings in IDEXX Laboratories were worth $14,519,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mutual of America Capital Management LLC grew its position in shares of IDEXX Laboratories by 79.6% during the first quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company’s stock worth $8,160,000 after acquiring an additional 8,609 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of IDEXX Laboratories by 3,766.7% during the first quarter. Golden State Wealth Management LLC now owns 116 shares of the company’s stock worth $49,000 after acquiring an additional 113 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new position in shares of IDEXX Laboratories during the first quarter worth approximately $229,000. Wealth Enhancement Advisory Services LLC grew its position in shares of IDEXX Laboratories by 13.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company’s stock worth $10,731,000 after acquiring an additional 2,931 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of IDEXX Laboratories by 4.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,225 shares of the company’s stock worth $934,000 after acquiring an additional 94 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They set a “buy” rating and a $625.00 target price on the stock. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a report on Monday, August 4th. Morgan Stanley raised their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the company an “overweight” rating in a report on Friday, August 15th. Wall Street Zen raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, July 12th. Finally, Leerink Partners raised their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.44.

Insider Activity

In related news, EVP Nimrata Hunt sold 1,200 shares of IDEXX Laboratories stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $656.53, for a total transaction of $787,836.00. Following the completion of the sale, the executive vice president owned 16,807 shares in the company, valued at approximately $11,034,299.71. This trade represents a 6.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total value of $5,279,921.14. Following the sale, the executive vice president owned 7,132 shares of the company’s stock, valued at approximately $4,477,041.68. This represents a 54.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,057 shares of company stock worth $34,293,468 in the last quarter. Corporate insiders own 0.98% of the company’s stock.

IDEXX Laboratories Trading Up 0.4%

NASDAQ:IDXX opened at $655.60 on Wednesday. The company has a market capitalization of $52.45 billion, a PE ratio of 54.59, a price-to-earnings-growth ratio of 4.23 and a beta of 1.56. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The stock has a fifty day simple moving average of $597.81 and a 200-day simple moving average of $509.91.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.35. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

About IDEXX Laboratories

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.