Bessemer Group Inc. Purchases 7,916 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Bessemer Group Inc. increased its stake in IDEXX Laboratories by 2.5% in the first quarter, buying 7,916 additional shares and bringing its total holding to 319,265 shares worth about $179.4 million.
• Other institutional investors also added to or started positions in IDEXX, and hedge funds and other institutions now own 87.84% of the company’s stock.
• Analysts remain mixed but mostly positive: the stock currently carries a Moderate Buy consensus with an average price target of $751, even as several firms recently cut targets or downgraded ratings.

Bessemer Group Inc. increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 319,265 shares of the company's stock after acquiring an additional 7,916 shares during the period. Bessemer Group Inc. owned about 0.40% of IDEXX Laboratories worth $179,393,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. SHP Wealth Management bought a new position in IDEXX Laboratories during the fourth quarter valued at approximately $26,000. Virtus Advisers LLC bought a new position in IDEXX Laboratories in the 3rd quarter worth $26,000. Park Place Capital Corp purchased a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $29,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in IDEXX Laboratories by 58.8% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 54 shares of the company's stock valued at $37,000 after purchasing an additional 20 shares in the last quarter. Finally, Wormser Freres Gestion lifted its stake in shares of IDEXX Laboratories by 671.4% during the 4th quarter. Wormser Freres Gestion now owns 54 shares of the company's stock valued at $37,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

Wall Street Analyst Weigh In

IDXX has been the subject of several recent analyst reports. UBS Group dropped their price target on IDEXX Laboratories from $730.00 to $640.00 and set a "neutral" rating for the company in a research note on Tuesday, April 28th. Citigroup initiated coverage on shares of IDEXX Laboratories in a report on Wednesday, April 15th. They issued a "neutral" rating and a $650.00 price target for the company. Stifel Nicolaus dropped their price objective on shares of IDEXX Laboratories from $775.00 to $675.00 and set a "buy" rating for the company in a research note on Tuesday, March 31st. Weiss Ratings lowered IDEXX Laboratories from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday. Finally, Wall Street Zen lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $751.00.

IDEXX Laboratories Stock Up 3.4%

Shares of IDEXX Laboratories stock opened at $576.07 on Friday. The firm's 50 day moving average price is $554.35 and its 200-day moving average price is $600.17. The company has a quick ratio of 0.82, a current ratio of 1.12 and a debt-to-equity ratio of 0.19. IDEXX Laboratories, Inc. has a 52-week low of $513.02 and a 52-week high of $769.98. The company has a market cap of $45.44 billion, a P/E ratio of 42.42, a PEG ratio of 3.05 and a beta of 1.55.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $3.47 EPS for the quarter, topping analysts' consensus estimates of $3.41 by $0.06. The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.12 billion. IDEXX Laboratories had a net margin of 24.63% and a return on equity of 70.87%. IDEXX Laboratories's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the business earned $2.91 EPS. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. On average, sell-side analysts predict that IDEXX Laboratories, Inc. will post 14.68 EPS for the current fiscal 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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