Lazard Freres Gestion S.A.S. Has $42.62 Million Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Lazard Freres Gestion S.A.S. reduced its IDEXX Laboratories stake by 20% in the fourth quarter, but still held 62,997 shares worth about $42.62 million.
• Several analysts have recently trimmed their price targets on IDEXX, though the stock still carries a Moderate Buy consensus with a $751 average price target.
• IDEXX reported strong quarterly results, posting EPS of $3.47 versus estimates of $3.41 and revenue of $1.14 billion, up 14.3% year over year.

Lazard Freres Gestion S.A.S. cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 20.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,997 shares of the company's stock after selling 15,702 shares during the quarter. Lazard Freres Gestion S.A.S. owned approximately 0.08% of IDEXX Laboratories worth $42,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of IDEXX Laboratories by 0.9% in the third quarter. Vanguard Group Inc. now owns 9,962,025 shares of the company's stock worth $6,364,638,000 after acquiring an additional 86,040 shares during the last quarter. Elyxium Wealth LLC acquired a new position in shares of IDEXX Laboratories in the fourth quarter worth $3,666,459,000. Bank of New York Mellon Corp increased its stake in shares of IDEXX Laboratories by 41.7% in the third quarter. Bank of New York Mellon Corp now owns 2,056,680 shares of the company's stock worth $1,313,992,000 after acquiring an additional 605,290 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of IDEXX Laboratories by 63,503.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,444,445 shares of the company's stock worth $977,210,000 after acquiring an additional 1,442,174 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of IDEXX Laboratories by 14.0% in the third quarter. Invesco Ltd. now owns 1,320,263 shares of the company's stock worth $843,503,000 after acquiring an additional 161,782 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on IDXX. Barclays dropped their price target on shares of IDEXX Laboratories from $850.00 to $800.00 and set an "overweight" rating on the stock in a research note on Thursday, February 5th. BTIG Research dropped their price target on shares of IDEXX Laboratories from $830.00 to $800.00 and set a "buy" rating on the stock in a research note on Tuesday, February 3rd. Citigroup began coverage on shares of IDEXX Laboratories in a research note on Wednesday, April 15th. They issued a "neutral" rating and a $650.00 price target on the stock. Wall Street Zen downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Finally, Stifel Nicolaus decreased their price objective on shares of IDEXX Laboratories from $775.00 to $675.00 and set a "buy" rating for the company in a report on Tuesday, March 31st. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $751.00.

IDEXX Laboratories Stock Up 0.1%

IDXX stock opened at $546.49 on Wednesday. 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, Inc. has a 52-week low of $496.61 and a 52-week high of $769.98. The company has a 50-day moving average of $569.38 and a two-hundred day moving average of $644.35. The stock has a market capitalization of $43.11 billion, a price-to-earnings ratio of 40.24, a price-to-earnings-growth ratio of 3.17 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released 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. IDEXX Laboratories had a net margin of 24.63% and a return on equity of 70.87%. The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the company earned $2.91 earnings per share. The business's quarterly 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 anticipate that IDEXX Laboratories, Inc. will post 14.68 EPS for the current year.

Insider Transactions at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 1,758 shares of the company's stock in a transaction dated Tuesday, March 3rd. The shares were 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 owned 18,141 shares of the company's stock, valued at approximately $11,511,734.37. This represents a 8.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 23,326 shares of the company's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $657.55, for a total transaction of $15,338,011.30. Following the transaction, the chief executive officer directly owned 83,606 shares of the company's stock, valued at $54,975,125.30. This represents a 21.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,777 shares of company stock valued at $18,235,113 over the last 90 days. Corporate insiders own 0.79% of the company's stock.

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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