Kornitzer Capital Management Inc. KS Has $7.15 Million Stake in IDEXX Laboratories, Inc. $IDXX

Key Points

• Kornitzer Capital Management cut its IDEXX Laboratories position by 24% in the first quarter, selling 4,025 shares and leaving it with 12,719 shares worth about $7.15 million.
• Wall Street sentiment on IDEXX is generally positive, with seven analysts rating it a Buy and four a Hold, giving it a Moderate Buy consensus and an average price target of $751.
• IDEXX shares rose 0.9% to $563.57, while the company recently beat earnings expectations, reporting $3.47 EPS on $1.14 billion in revenue, both above estimates.

Kornitzer Capital Management Inc. KS lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 24.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,719 shares of the company's stock after selling 4,025 shares during the period. Kornitzer Capital Management Inc. KS's holdings in IDEXX Laboratories were worth $7,147,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SHP Wealth Management acquired a new stake in shares of IDEXX Laboratories during the fourth quarter valued at about $26,000. Virtus Advisers LLC acquired a new position in shares of IDEXX Laboratories in the third quarter valued at approximately $26,000. Park Place Capital Corp acquired a new position in shares of IDEXX Laboratories in the fourth quarter valued at approximately $29,000. WealthCollab LLC bought a new position in IDEXX Laboratories in the 2nd quarter valued at approximately $30,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in IDEXX Laboratories in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 87.84% of the company's stock.

Wall Street Analyst Weigh In

IDXX has been the topic of several recent research reports. Weiss Ratings upgraded shares of IDEXX Laboratories from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, June 25th. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Stifel Nicolaus dropped their price target on shares of IDEXX Laboratories from $775.00 to $675.00 and set a "buy" rating for the company in a research note on Tuesday, March 31st. Citigroup began coverage on shares of IDEXX Laboratories in a report on Wednesday, April 15th. They set a "neutral" rating and a $650.00 price target on the stock. Finally, UBS Group reduced their price objective on shares of IDEXX Laboratories from $730.00 to $640.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 28th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, IDEXX Laboratories has a consensus rating of "Moderate Buy" and an average target price of $751.00.

IDEXX Laboratories Trading Up 0.9%

Shares of IDEXX Laboratories stock traded up $4.97 during midday trading on Friday, reaching $563.57. The company had a trading volume of 612,524 shares, compared to its average volume of 657,640. The stock has a fifty day moving average price of $555.09 and a 200 day moving average price of $604.44. 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 cap of $44.45 billion, a PE ratio of 41.50, a P/E/G ratio of 3.06 and a beta of 1.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.12 and a quick ratio of 0.82.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $3.47 earnings per share for the quarter, beating analysts' consensus estimates of $3.41 by $0.06. IDEXX Laboratories had a net margin of 24.63% and a return on equity of 70.87%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm posted $2.91 EPS. The company's revenue for the quarter 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. On average, equities analysts anticipate that IDEXX Laboratories, Inc. will post 14.68 earnings per share for the current 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.