Bessemer Group Inc. Trims Stock Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Bessemer Group Inc. reduced its stake in IDEXX Laboratories by 11.6% in the fourth quarter, selling 40,919 shares and leaving it with 311,349 shares valued at about $210.6 million.
• IDEXX reported better-than-expected quarterly results, posting EPS of $3.47 versus $3.41 expected and revenue of $1.14 billion versus $1.12 billion estimated, with revenue up 14.3% year over year.
• Despite the earnings beat, insider and analyst sentiment was mixed: executives sold shares recently, and several analysts trimmed price targets or maintained neutral ratings, though the stock still carries a Moderate Buy consensus.

Bessemer Group Inc. cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 11.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 311,349 shares of the company's stock after selling 40,919 shares during the period. Bessemer Group Inc. owned about 0.39% of IDEXX Laboratories worth $210,636,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of IDEXX Laboratories by 0.9% in the third quarter. Vanguard Group Inc. now owns 9,962,025 shares of the company's stock valued at $6,364,638,000 after buying an additional 86,040 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of IDEXX Laboratories by 41.7% in the third quarter. Bank of New York Mellon Corp now owns 2,056,680 shares of the company's stock valued at $1,313,992,000 after buying an additional 605,290 shares during the last quarter. Invesco Ltd. raised its holdings in shares of IDEXX Laboratories by 14.0% in the third quarter. Invesco Ltd. now owns 1,320,263 shares of the company's stock valued at $843,503,000 after buying an additional 161,782 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of IDEXX Laboratories by 16.7% in the third quarter. Principal Financial Group Inc. now owns 1,315,722 shares of the company's stock valued at $840,638,000 after buying an additional 187,967 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of IDEXX Laboratories by 60.0% in the third quarter. JPMorgan Chase & Co. now owns 869,930 shares of the company's stock valued at $555,802,000 after buying an additional 326,348 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Up 0.8%

Shares of IDEXX Laboratories stock opened at $532.86 on Friday. IDEXX Laboratories, Inc. has a 52-week low of $496.61 and a 52-week high of $769.98. The company has a quick ratio of 0.82, a current ratio of 1.12 and a debt-to-equity ratio of 0.19. The company's 50-day simple moving average is $574.48 and its 200-day simple moving average is $646.38. The firm has a market cap of $42.03 billion, a price-to-earnings ratio of 39.24, a price-to-earnings-growth ratio of 3.08 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $3.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.41 by $0.06. IDEXX Laboratories had a net margin of 24.63% and a return on equity of 70.87%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business posted $2.91 earnings per share. The business's 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. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 14.66 earnings per share for the current year.

Insider Activity

In other news, CEO Jonathan Jay Mazelsky sold 23,326 shares of the business's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $657.55, for a total transaction of $15,338,011.30. Following the transaction, the chief executive officer directly owned 83,606 shares in the company, valued at $54,975,125.30. The trade was a 21.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael G. Erickson sold 5,371 shares of the business's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $627.38, for a total transaction of $3,369,657.98. Following the transaction, the executive vice president owned 12,693 shares in the company, valued at approximately $7,963,334.34. This trade represents a 29.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 34,612 shares of company stock valued at $22,525,070. 0.79% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on IDXX shares. Barclays reduced their target price on shares of IDEXX Laboratories from $850.00 to $800.00 and set an "overweight" rating for the company in a report on Thursday, February 5th. Citigroup started coverage on shares of IDEXX Laboratories in a report on Wednesday, April 15th. They issued a "neutral" rating and a $650.00 target price for the company. Wall Street Zen cut shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Piper Sandler reduced their target price on shares of IDEXX Laboratories from $775.00 to $750.00 and set a "neutral" rating for the company in a report on Monday, February 9th. Finally, BTIG Research reduced their target price on shares of IDEXX Laboratories from $830.00 to $800.00 and set a "buy" rating for the company in a report on Tuesday, February 3rd. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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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