Allspring Global Investments Holdings LLC Sells 3,332 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Allspring Global Investments reduced its IDEXX Laboratories position by 7.2% in the first quarter, selling 3,332 shares and leaving it with 43,198 shares worth about $24.4 million.
• IDEXX reported better-than-expected first-quarter results, with EPS of $3.47 versus $3.41 expected and revenue of $1.14 billion, up 14.3% year over year.
• Analyst sentiment has softened somewhat, with recent downgrades and lower price targets, though the stock still carries a Moderate Buy consensus and an average target price of $751.

Allspring Global Investments Holdings LLC cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,198 shares of the company's stock after selling 3,332 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.05% of IDEXX Laboratories worth $24,392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Elyxium Wealth LLC purchased a new stake in shares of IDEXX Laboratories in the 4th quarter valued at about $3,666,459,000. J. Stern & Co. LLP grew its stake in IDEXX Laboratories by 23,694.7% in the 4th quarter. J. Stern & Co. LLP now owns 2,653,351 shares of the company's stock worth $1,795,072,000 after buying an additional 2,642,200 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of IDEXX Laboratories by 63,503.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,444,445 shares of the company's stock worth $977,210,000 after buying an additional 1,442,174 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of IDEXX Laboratories by 318.1% in the 4th quarter. Wellington Management Group LLP now owns 779,214 shares of the company's stock worth $527,162,000 after buying an additional 592,834 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of IDEXX Laboratories during the 4th quarter valued at $332,265,000. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Down 0.6%

Shares of NASDAQ:IDXX opened at $563.81 on Tuesday. The stock has a market capitalization of $44.47 billion, a P/E ratio of 41.52, a price-to-earnings-growth ratio of 3.10 and a beta of 1.55. The stock's 50-day moving average price is $555.13 and its 200-day moving average price is $598.49. The company has a current ratio of 1.12, a quick ratio of 0.82 and a debt-to-equity ratio of 0.19. IDEXX Laboratories, Inc. has a 12-month low of $513.02 and a 12-month high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $3.47 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the business posted $2.91 EPS. IDEXX Laboratories's quarterly revenue was up 14.3% compared to the same quarter last year. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. On average, equities analysts anticipate that IDEXX Laboratories, Inc. will post 14.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

IDXX has been the subject of a number of research analyst reports. Weiss Ratings downgraded shares of IDEXX Laboratories from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, July 14th. Wall Street Zen lowered IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Citigroup began coverage on IDEXX Laboratories in a report on Wednesday, April 15th. They issued a "neutral" rating and a $650.00 price objective for the company. UBS Group reduced their price objective on IDEXX Laboratories from $730.00 to $640.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 28th. Finally, Stifel Nicolaus decreased their price objective on IDEXX Laboratories from $775.00 to $675.00 and set a "buy" rating on the stock in a report on Tuesday, March 31st. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average 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.

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