Azimuth Capital Investment Management LLC Sells 12,103 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Azimuth Capital Investment Management reduced its IDEXX Laboratories position by 40.1%, selling 12,103 shares and retaining 18,111 shares valued at approximately $9.5 million. Institutional investors collectively own 87.84% of the company.
• Analyst sentiment remains positive but mixed: six analysts rate IDXX a Buy and four rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $747.00.
• IDEXX reported quarterly EPS of $4.27, beating estimates of $3.94, while revenue rose 9.7% year over year to $1.22 billion. Shares opened at $535.38, near the company’s 52-week low of $518.55.

Azimuth Capital Investment Management LLC trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 40.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,111 shares of the company's stock after selling 12,103 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in IDEXX Laboratories were worth $9,534,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. AlphaGrep UK Ltd purchased a new position in shares of IDEXX Laboratories in the 2nd quarter valued at $1,385,000. Maloon Powers Pitre Higgins & Dennehy LLC bought a new position in shares of IDEXX Laboratories in the 2nd quarter worth $303,000. Plan A Wealth LLC purchased a new stake in shares of IDEXX Laboratories during the 2nd quarter worth $203,000. SVRN Asset Management LLC purchased a new stake in shares of IDEXX Laboratories during the 2nd quarter worth $290,000. Finally, Three Seasons Wealth LLC boosted its position in IDEXX Laboratories by 8.8% during the second quarter. Three Seasons Wealth LLC now owns 1,516 shares of the company's stock valued at $798,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

Wall Street Analyst Weigh In

IDXX has been the subject of a number of recent research reports. Barclays reduced their target price on shares of IDEXX Laboratories from $800.00 to $710.00 and set an "overweight" rating for the company in a report on Tuesday, August 11th. Wall Street Zen downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. UBS Group boosted their price objective on shares of IDEXX Laboratories from $620.00 to $670.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Weiss Ratings cut shares of IDEXX Laboratories from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, August 27th. Finally, Citigroup raised their target price on shares of IDEXX Laboratories from $650.00 to $670.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, IDEXX Laboratories has an average rating of "Moderate Buy" and an average price target of $747.00.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $535.38 on Friday. The company has a 50 day moving average price of $558.27 and a 200 day moving average price of $570.47. The firm has a market capitalization of $42.18 billion, a P/E ratio of 37.65, a PEG ratio of 2.86 and a beta of 1.54. The company has a quick ratio of 0.87, a current ratio of 1.17 and a debt-to-equity ratio of 0.19. IDEXX Laboratories, Inc. has a 52 week low of $518.55 and a 52 week high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $4.27 earnings per share for the quarter, topping the consensus estimate of $3.94 by $0.33. IDEXX Laboratories had a net margin of 25.03% and a return on equity of 71.96%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm earned $3.50 EPS. IDEXX Laboratories's revenue was up 9.7% compared to the same quarter last year. IDEXX Laboratories has set its FY 2026 guidance at 14.690-14.940 EPS. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 14.81 EPS for the current year.

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.

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