CIBC Bancorp USA Inc. Invests $8.93 Million in IDEXX Laboratories, Inc. $IDXX

Key Points

• CIBC Bancorp USA purchased a new position in IDEXX Laboratories (NASDAQ:IDXX) of 13,983 shares worth approximately $8.93 million during the third quarter, according to an SEC filing.
• IDEXX reported quarterly EPS of $2.92 (missing estimates by $0.01) and revenue of $1.09 billion (beating estimates) with revenue up 14.3% year-over-year, and set FY 2026 guidance of 14.290–14.800 EPS.
• Institutional investors own about 87.84% of the stock with large stake increases (e.g., Principal Financial now holds ~1.316M shares), while insiders sold ~45,957 shares worth ~$29.86M last quarter; analysts have a consensus Moderate Buy rating with an average target of $783.33.

CIBC Bancorp USA Inc. purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,983 shares of the company's stock, valued at approximately $8,934,000.

Several other large investors have also recently added to or reduced their stakes in IDXX. Blalock Williams LLC purchased a new position in IDEXX Laboratories in the third quarter worth $590,000. New York State Common Retirement Fund boosted its position in shares of IDEXX Laboratories by 6.8% during the 3rd quarter. New York State Common Retirement Fund now owns 60,225 shares of the company's stock worth $38,477,000 after purchasing an additional 3,820 shares in the last quarter. Mediolanum International Funds Ltd boosted its position in shares of IDEXX Laboratories by 14.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 38,761 shares of the company's stock worth $24,441,000 after purchasing an additional 4,909 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of IDEXX Laboratories by 16.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,315,722 shares of the company's stock worth $840,638,000 after purchasing an additional 187,967 shares during the period. Finally, Orion Porfolio Solutions LLC grew its stake in shares of IDEXX Laboratories by 116.6% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 10,718 shares of the company's stock worth $5,749,000 after purchasing an additional 5,770 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Down 0.4%

IDXX stock opened at $577.26 on Friday. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $769.98. The company's 50 day simple moving average is $645.73 and its 200-day simple moving average is $664.32. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.23 and a quick ratio of 0.90. The firm has a market capitalization of $45.90 billion, a P/E ratio of 44.17, a P/E/G ratio of 3.52 and a beta of 1.66.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings data on Monday, February 2nd. The company reported $2.92 EPS for the quarter, missing analysts' consensus estimates of $2.93 by ($0.01). IDEXX Laboratories had a return on equity of 69.78% and a net margin of 24.62%.The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $2.53 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2026 guidance at 14.290-14.800 EPS. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on IDXX shares. UBS Group reduced their price objective on shares of IDEXX Laboratories from $750.00 to $730.00 and set a "neutral" rating for the company in a research note on Tuesday, February 3rd. Weiss Ratings lowered shares of IDEXX Laboratories from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, January 29th. Barclays dropped 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. BTIG Research decreased their price target on IDEXX Laboratories from $830.00 to $800.00 and set a "buy" rating on the stock in a research note on Tuesday, February 3rd. Finally, Wall Street Zen cut IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 28th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $783.33.

Insiders Place Their Bets

In related news, Director Sophie V. Vandebroek sold 1,464 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $628.62, for a total value of $920,299.68. Following the completion of the sale, the director directly owned 648 shares of the company's stock, valued at approximately $407,345.76. This represents a 69.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael G. Erickson sold 5,371 shares of the firm's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $627.38, for a total value of $3,369,657.98. Following the sale, the executive vice president owned 12,693 shares of the company's stock, valued at $7,963,334.34. The trade was a 29.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,957 shares of company stock valued at $29,862,109 over the last quarter. 0.98% of the stock is owned by insiders.

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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