Marks Group Wealth Management Inc Trims Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Marks Group Wealth Management cut its IDEXX Laboratories stake by 33.7% in the first quarter, selling 2,686 shares and leaving it with 5,286 shares valued at about $2.97 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 87.84% of IDEXX shares. Several firms increased their positions, including Sei Investments Co., which boosted its stake by 218.7%.
• Analyst sentiment is mixed but still constructive: IDEXX has a Moderate Buy consensus with an average price target of $751, while the company recently beat quarterly earnings and revenue estimates and reported 14.3% year-over-year revenue growth.

Marks Group Wealth Management Inc trimmed its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 33.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,286 shares of the company's stock after selling 2,686 shares during the quarter. Marks Group Wealth Management Inc's holdings in IDEXX Laboratories were worth $2,970,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in shares of IDEXX Laboratories by 6.6% in the first quarter. Empowered Funds LLC now owns 1,538 shares of the company's stock worth $646,000 after buying an additional 95 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in IDEXX Laboratories during the second quarter valued at approximately $265,000. Jump Financial LLC grew its stake in IDEXX Laboratories by 1,006.4% during the second quarter. Jump Financial LLC now owns 5,532 shares of the company's stock valued at $2,967,000 after acquiring an additional 5,032 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in IDEXX Laboratories during the 2nd quarter worth approximately $164,000. Finally, Sei Investments Co. increased its holdings in IDEXX Laboratories by 218.7% during the 2nd quarter. Sei Investments Co. now owns 120,587 shares of the company's stock worth $64,678,000 after acquiring an additional 82,755 shares during the period. Hedge funds and other institutional investors own 87.84% of the company's stock.

Analyst Ratings Changes

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

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $557.02 on Thursday. The stock has a market cap of $43.94 billion, a price-to-earnings ratio of 41.02, a P/E/G ratio of 2.96 and a beta of 1.55. The company has a current ratio of 1.12, a quick ratio of 0.82 and a debt-to-equity ratio of 0.19. IDEXX Laboratories, Inc. has a 1-year low of $506.91 and a 1-year high of $769.98. The stock's 50-day moving average is $554.27 and its 200 day moving average is $600.97.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.06. The business 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%.IDEXX Laboratories's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.91 earnings per share. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. On average, sell-side analysts anticipate 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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