IDEXX Laboratories, Inc. $IDXX Shares Sold by Principal Financial Group Inc.

Key Points

• Principal Financial Group cut its stake in IDEXX Laboratories by 9.1% in the first quarter, selling 87,757 shares and leaving it with 881,189 shares valued at about $495.2 million.
• Analyst sentiment remains mixed but generally positive, with a consensus rating of Moderate Buy and an average price target of $751, even as some firms trimmed targets or downgraded the stock.
• IDEXX reported better-than-expected quarterly results, including EPS of $3.47 versus $3.41 expected and revenue of $1.14 billion, up 14.3% year over year.

Principal Financial Group Inc. lessened its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 881,189 shares of the company's stock after selling 87,757 shares during the quarter. Principal Financial Group Inc. owned about 1.11% of IDEXX Laboratories worth $495,164,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Beacon Investment Advisory Services Inc. lifted its holdings in IDEXX Laboratories by 11.9% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 62,951 shares of the company's stock valued at $42,588,000 after acquiring an additional 6,710 shares during the last quarter. Nordea Investment Management AB grew its position in IDEXX Laboratories by 114.1% in the fourth quarter. Nordea Investment Management AB now owns 16,597 shares of the company's stock worth $11,283,000 after acquiring an additional 8,845 shares during the period. Procyon Advisors LLC acquired a new stake in IDEXX Laboratories during the fourth quarter worth $1,966,000. Diversified Trust Co. increased its stake in IDEXX Laboratories by 223.5% during the fourth quarter. Diversified Trust Co. now owns 4,199 shares of the company's stock worth $2,841,000 after acquiring an additional 2,901 shares during the last quarter. Finally, Congress Asset Management Co. boosted its stake in IDEXX Laboratories by 9,894.0% during the fourth quarter. Congress Asset Management Co. now owns 153,908 shares of the company's stock worth $104,123,000 after buying an additional 152,368 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on IDXX shares. Citigroup started coverage on shares of IDEXX Laboratories in a research report on Wednesday, April 15th. They set a "neutral" rating and a $650.00 price target for the company. Stifel Nicolaus lowered their price objective on shares of IDEXX Laboratories from $775.00 to $675.00 and set a "buy" rating for the company in a research report on Tuesday, March 31st. Weiss Ratings upgraded shares of IDEXX Laboratories from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, June 25th. Wall Street Zen downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Sunday. Finally, UBS Group cut their target price on IDEXX Laboratories from $730.00 to $640.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 28th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $751.00.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $564.21 on Tuesday. 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 fifty-two week low of $506.91 and a fifty-two week high of $769.98. The firm has a market capitalization of $44.50 billion, a PE ratio of 41.55, a price-to-earnings-growth ratio of 3.08 and a beta of 1.55. The stock's 50-day simple moving average is $555.16 and its 200-day simple moving average is $602.92.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.06. IDEXX Laboratories had a return on equity of 70.87% and a net margin of 24.63%.The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the previous year, the business earned $2.91 earnings per share. The firm's revenue was up 14.3% compared to the same quarter last year. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 14.68 EPS 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.

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