Plato Investment Management Ltd Takes $1.48 Million Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• Plato Investment Management acquired 2,836 shares of IDEXX Laboratories worth approximately $1.48 million during the second quarter. Hedge funds and other institutional investors collectively own 87.84% of the company.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $747, despite mixed revisions, including Barclays lowering its target to $710 and UBS and Citigroup raising theirs to $670.
• IDEXX reported quarterly earnings of $4.27 per share, beating estimates of $3.94, while revenue rose 9.7% year over year to $1.22 billion. Shares opened at $546.09, near the lower end of their 52-week range.

Plato Investment Management Ltd acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,836 shares of the company's stock, valued at approximately $1,484,000.

Several other hedge funds also recently added to or reduced their stakes in IDXX. J.Safra Asset Management Corp purchased a new stake in IDEXX Laboratories in the second quarter valued at $25,000. SHP Wealth Management purchased a new position in shares of IDEXX Laboratories during the 4th quarter worth $26,000. Elevation Wealth Partners LLC grew its holdings in shares of IDEXX Laboratories by 188.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 49 shares of the company's stock worth $26,000 after purchasing an additional 32 shares during the period. Virtus Advisers LLC acquired a new stake in shares of IDEXX Laboratories during the 3rd quarter worth about $26,000. Finally, WealthCollab LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter valued at about $30,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on IDXX. Weiss Ratings raised shares of IDEXX Laboratories from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 29th. Barclays reduced their price target on shares of IDEXX Laboratories from $800.00 to $710.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 11th. UBS Group upped their price objective on shares of IDEXX Laboratories from $620.00 to $670.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Citigroup increased their price objective on shares of IDEXX Laboratories from $650.00 to $670.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $747.00.

IDEXX Laboratories Stock Down 0.9%

Shares of NASDAQ:IDXX opened at $546.09 on Tuesday. The firm has a market capitalization of $43.02 billion, a PE ratio of 38.40, a price-to-earnings-growth ratio of 2.94 and a beta of 1.54. IDEXX Laboratories, Inc. has a 1 year low of $518.55 and a 1 year high of $769.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.17 and a quick ratio of 0.87. The firm's 50-day moving average is $560.74 and its two-hundred day moving average is $579.65.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $4.27 earnings per share for the quarter, beating analysts' consensus estimates of $3.94 by $0.33. IDEXX Laboratories had a net margin of 25.03% and a return on equity of 71.96%. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the previous year, the business posted $3.50 earnings per share. The business's quarterly revenue was up 9.7% compared to the same quarter last year. IDEXX Laboratories has set its FY 2026 guidance at 14.690-14.940 EPS. Analysts predict that IDEXX Laboratories, Inc. will post 14.81 EPS 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.

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