Handelsbanken Fonder AB Grows Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Handelsbanken Fonder increased its IDEXX Laboratories stake by 5.9% in the second quarter, adding 2,150 shares for a total of 38,344 shares valued at approximately $20.2 million.
• Institutional investors and hedge funds own 87.84% of IDEXX, with several major firms significantly increasing positions or initiating new stakes.
• IDEXX reported quarterly EPS of $4.27 and revenue of $1.22 billion, beating estimates and growing revenue 9.7% year over year. Analysts maintain a “Moderate Buy” consensus with a $747 average price target, despite recent target reductions and the stock trading down 2.7%.

Handelsbanken Fonder AB grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,344 shares of the company's stock after acquiring an additional 2,150 shares during the quarter. Handelsbanken Fonder AB's holdings in IDEXX Laboratories were worth $20,186,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Elyxium Wealth LLC purchased a new position in IDEXX Laboratories in the 4th quarter valued at about $3,666,459,000. J. Stern & Co. LLP raised its position 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 buying an additional 2,642,200 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of IDEXX Laboratories by 63,503.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,444,445 shares of the company's stock valued at $977,210,000 after buying an additional 1,442,174 shares during the period. Wellington Management Group LLP boosted its position in IDEXX Laboratories by 318.1% during 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 purchased a new stake in IDEXX Laboratories in the 4th quarter worth approximately $332,265,000. Institutional investors and hedge funds own 87.84% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IDXX. UBS Group raised their price objective on IDEXX Laboratories from $620.00 to $670.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Barclays reduced 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. Weiss Ratings raised IDEXX Laboratories from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 29th. Wall Street Zen cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Finally, Citigroup upped their price objective on shares of IDEXX Laboratories from $650.00 to $670.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, IDEXX Laboratories currently has an average rating of "Moderate Buy" and a consensus price target of $747.00.

IDEXX Laboratories Trading Down 2.7%

NASDAQ:IDXX opened at $570.58 on Thursday. The business's 50-day moving average is $561.22 and its two-hundred day moving average is $582.62. The firm has a market capitalization of $44.95 billion, a PE ratio of 40.13, a price-to-earnings-growth ratio of 3.13 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 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 released its quarterly earnings results on Tuesday, August 4th. The company reported $4.27 EPS for the quarter, topping the consensus estimate of $3.94 by $0.33. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. IDEXX Laboratories had a return on equity of 71.96% and a net margin of 25.03%.IDEXX Laboratories's revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.50 EPS. IDEXX Laboratories has set its FY 2026 guidance at 14.690-14.940 EPS. Research analysts predict that IDEXX Laboratories, Inc. will post 14.81 earnings per share for the current fiscal year.

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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