IDEXX Laboratories, Inc. $IDXX Shares Sold by Beacon Investment Advisory Services Inc.

Key Points

• Beacon Investment Advisory Services reduced its IDEXX Laboratories stake by 6.2% in the second quarter, selling 3,657 shares and retaining 55,153 shares worth approximately $29.0 million. Institutional investors collectively own 87.84% of the company.
• Analyst sentiment remains positive, with six Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $756. UBS and Citigroup both raised their targets to $670 while maintaining neutral ratings.
• IDEXX reported quarterly earnings of $4.27 per share, beating estimates of $3.94, while revenue rose 9.7% year over year to $1.22 billion. Shares opened at $586.67, within a 52-week range of $518.55 to $769.98.

Beacon Investment Advisory Services Inc. lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,153 shares of the company's stock after selling 3,657 shares during the quarter. IDEXX Laboratories comprises about 1.1% of Beacon Investment Advisory Services Inc.'s holdings, making the stock its 29th largest holding. Beacon Investment Advisory Services Inc. owned approximately 0.07% of IDEXX Laboratories worth $29,035,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Aurora Investment Managers LLC. acquired a new position in shares of IDEXX Laboratories during the second quarter worth $2,442,000. Elevation Wealth Partners LLC grew its holdings in IDEXX Laboratories by 188.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 49 shares of the company's stock valued at $26,000 after purchasing an additional 32 shares in the last quarter. Czech National Bank grew its holdings in IDEXX Laboratories by 3.2% during the 2nd quarter. Czech National Bank now owns 22,453 shares of the company's stock valued at $11,820,000 after purchasing an additional 706 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab increased its stake in IDEXX Laboratories by 4.5% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 14,190 shares of the company's stock worth $7,470,000 after buying an additional 610 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in IDEXX Laboratories by 113.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 183,233 shares of the company's stock worth $96,461,000 after buying an additional 97,398 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

Analyst Ratings Changes

IDXX has been the subject of several recent analyst reports. Wall Street Zen downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. UBS Group increased their price target on IDEXX Laboratories from $620.00 to $670.00 and gave the company a "neutral" rating in a report on Wednesday. Weiss Ratings upgraded IDEXX Laboratories from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 29th. Finally, Citigroup upped their target price on IDEXX Laboratories from $650.00 to $670.00 and gave the company a "neutral" rating in a research report on Wednesday. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $756.00.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $586.67 on Friday. The stock has a market capitalization of $46.22 billion, a price-to-earnings ratio of 41.26, a PEG ratio of 3.20 and a beta of 1.54. IDEXX Laboratories, Inc. has a one year low of $518.55 and a one year high of $769.98. The company's 50-day simple moving average is $559.73 and its 200-day simple moving average is $585.79. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 1.17.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $4.27 earnings per share for the quarter, beating the consensus estimate of $3.94 by $0.33. IDEXX Laboratories had a return on equity of 71.96% and a net margin of 25.03%.The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company earned $3.50 earnings per share. IDEXX Laboratories's quarterly 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. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 14.82 earnings per share 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.

Want to see what other hedge funds are holding IDXX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source