Bank of New York Mellon Corp Purchases New Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Bank of New York Mellon purchased 1.19 million IDEXX Laboratories shares worth approximately $628.2 million, giving it a 1.51% stake. Institutional investors and hedge funds collectively own 87.84% of the company.
• Analysts maintain a generally positive outlook, with six Buy ratings and four Hold ratings producing a “Moderate Buy” consensus and an average price target of $747.
• IDEXX exceeded quarterly expectations with $4.27 in EPS and $1.22 billion in revenue, while revenue rose 9.7% year over year. Shares recently opened at $556.93, below their 12-month high of $769.98.

Bank of New York Mellon Corp bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,193,343 shares of the company's stock, valued at approximately $628,223,000. Bank of New York Mellon Corp owned approximately 1.51% of IDEXX Laboratories at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IDXX. UBS Group raised their target price on shares of IDEXX Laboratories from $620.00 to $670.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of IDEXX Laboratories from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 29th. Wall Street Zen lowered IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Barclays cut their price target on IDEXX Laboratories from $800.00 to $710.00 and set an "overweight" rating for the company in a report on Tuesday, August 11th. Finally, Citigroup upped their price objective on IDEXX Laboratories from $650.00 to $670.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Six equities 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.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $747.00.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $556.93 on Friday. The stock has a market capitalization of $43.88 billion, a PE ratio of 39.17, a price-to-earnings-growth ratio of 2.91 and a beta of 1.54. IDEXX Laboratories, Inc. has a 12-month low of $518.55 and a 12-month high of $769.98. The business's fifty day moving average price is $560.01 and its 200 day moving average price is $576.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.17 and a quick ratio of 0.87.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $4.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period last year, the firm posted $3.50 EPS. The company's revenue for the quarter was up 9.7% on a year-over-year basis. IDEXX Laboratories has set its FY 2026 guidance at 14.690-14.940 EPS. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 14.81 EPS for the current year.

IDEXX Laboratories Company 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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