Corient Private Wealth LP Decreases Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Corient Private Wealth reduced its IDEXX Laboratories stake by 8.6% in the second quarter, selling 10,518 shares and retaining 111,488 shares valued at approximately $58.7 million.
• Analysts maintain a generally positive outlook, with six Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $747, despite some recent downgrades and target-price cuts.
• IDEXX shares opened at $504.70, near their 12-month low, while the company reported quarterly EPS of $4.27 and revenue of $1.22 billion, up 9.7% year over year and above analyst expectations.

Corient Private Wealth LP lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 8.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 111,488 shares of the company's stock after selling 10,518 shares during the quarter. Corient Private Wealth LP owned 0.14% of IDEXX Laboratories worth $58,692,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its holdings in IDEXX Laboratories by 50,115.1% during the second quarter. California State Teachers Retirement System now owns 61,590,848 shares of the company's stock valued at $32,423,886,000 after purchasing an additional 61,468,194 shares in the last quarter. Elyxium Wealth LLC purchased a new stake in shares of IDEXX Laboratories during the fourth quarter worth about $3,666,459,000. State Street Corp raised its position in shares of IDEXX Laboratories by 4.0% during the 4th quarter. State Street Corp now owns 3,656,626 shares of the company's stock worth $2,473,817,000 after purchasing an additional 138,956 shares during the last quarter. J. Stern & Co. LLP raised its position in shares of IDEXX Laboratories by 23,694.7% during the 4th quarter. J. Stern & Co. LLP now owns 2,653,351 shares of the company's stock worth $1,795,072,000 after purchasing an additional 2,642,200 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in IDEXX Laboratories by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,583,939 shares of the company's stock valued at $1,749,380,000 after buying an additional 86,263 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

Insider Activity at IDEXX Laboratories

In related news, Director Lawrence D. Kingsley sold 2,203 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $532.08, for a total value of $1,172,172.24. Following the completion of the sale, the director owned 9,568 shares of the company's stock, valued at approximately $5,090,941.44. This trade represents a 18.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.79% of the company's stock.

Wall Street Analysts Forecast Growth

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

IDEXX Laboratories Stock Down 0.4%

Shares of NASDAQ IDXX opened at $504.70 on Friday. IDEXX Laboratories, Inc. has a 12-month low of $500.61 and a 12-month high of $769.98. The stock has a market cap of $39.76 billion, a PE ratio of 35.49, a P/E/G ratio of 2.69 and a beta of 1.54. The company has a current ratio of 1.17, a quick ratio of 0.87 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $555.59 and a 200 day moving average of $566.45.

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 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 business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company posted $3.50 EPS. The business's revenue was up 9.7% on a year-over-year basis. IDEXX Laboratories has set its FY 2026 guidance at 14.690-14.940 EPS. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 14.81 EPS for the current fiscal year.

IDEXX Laboratories Profile

IDEXX Laboratories, Inc develops and provides diagnostic, information technology and veterinary practice-management products and services. The company primarily serves the companion animal, livestock and poultry, and water testing markets, helping customers detect, monitor and manage disease.

Its companion animal business includes in-house laboratory analyzers and consumables, reference laboratory services, diagnostic tests, veterinary software, digital imaging and related practice-management solutions.

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