IDEXX Laboratories, Inc. $IDXX Shares Sold by Employees Retirement System of Texas

Key Points

• Employees Retirement System of Texas cut its IDEXX Laboratories stake by 21.3% in the fourth quarter, selling 2,276 shares and ending with 8,406 shares valued at about $5.69 million.
• IDEXX reported stronger-than-expected quarterly results, with EPS of $3.47 versus $3.41 expected and revenue of $1.14 billion versus $1.12 billion expected; revenue rose 14.3% year over year.
• Wall Street remains constructive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $751, even as some analysts trimmed their targets and ratings.

Employees Retirement System of Texas lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 21.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,406 shares of the company's stock after selling 2,276 shares during the quarter. Employees Retirement System of Texas' holdings in IDEXX Laboratories were worth $5,687,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of IDEXX Laboratories by 0.9% during the third quarter. Vanguard Group Inc. now owns 9,962,025 shares of the company's stock valued at $6,364,638,000 after purchasing an additional 86,040 shares during the last quarter. Elyxium Wealth LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at approximately $3,666,459,000. Bank of New York Mellon Corp grew its holdings in shares of IDEXX Laboratories by 41.7% during 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 purchasing an additional 605,290 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings 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 purchasing an additional 1,442,174 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of IDEXX Laboratories by 14.0% during the third quarter. Invesco Ltd. now owns 1,320,263 shares of the company's stock valued at $843,503,000 after purchasing an additional 161,782 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Trading Down 1.1%

Shares of IDXX stock opened at $550.99 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 1.12. IDEXX Laboratories, Inc. has a 1 year low of $504.56 and a 1 year high of $769.98. The stock has a fifty day moving average of $565.23 and a two-hundred day moving average of $638.69. The firm has a market capitalization of $43.46 billion, a PE ratio of 40.57, a price-to-earnings-growth ratio of 3.24 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, beating analysts' consensus estimates of $3.41 by $0.06. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. IDEXX Laboratories had a return on equity of 70.87% and a net margin of 24.63%.The firm's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the company posted $2.91 EPS. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. As a group, research analysts expect that IDEXX Laboratories, Inc. will post 14.68 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on IDXX shares. Stifel Nicolaus lowered their target price on IDEXX Laboratories from $775.00 to $675.00 and set a "buy" rating for the company in a report on Tuesday, March 31st. Citigroup initiated coverage on IDEXX Laboratories in a report on Wednesday, April 15th. They set a "neutral" rating and a $650.00 target price for the company. Piper Sandler decreased their target price on shares of IDEXX Laboratories from $775.00 to $750.00 and set a "neutral" rating for the company in a research report on Monday, February 9th. Wall Street Zen cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Finally, Weiss Ratings cut IDEXX Laboratories from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $751.00.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 1,758 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $634.57, for a total transaction of $1,115,574.06. Following the completion of the transaction, the executive vice president directly owned 18,141 shares of the company's stock, valued at approximately $11,511,734.37. This trade represents a 8.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.79% of the company's stock.

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.

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