PNC Financial Services Group Inc. Boosts Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• PNC Financial Services Group increased its stake in IDEXX Laboratories by 5.4% in the first quarter, owning 45,739 shares valued at about $25.7 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 87.84% of IDEXX shares. Several firms significantly boosted their positions during the period.
• Analyst sentiment is mixed but constructive: the stock has a consensus rating of “Moderate Buy” with an average price target of $751, though several firms have recently trimmed targets or downgraded ratings.

PNC Financial Services Group Inc. grew its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,739 shares of the company's stock after acquiring an additional 2,355 shares during the period. PNC Financial Services Group Inc. owned about 0.06% of IDEXX Laboratories worth $25,700,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elyxium Wealth LLC acquired a new position in shares of IDEXX Laboratories during the fourth quarter worth $3,666,459,000. J. Stern & Co. LLP boosted its stake in shares of IDEXX Laboratories by 23,694.7% during the 4th quarter. J. Stern & Co. LLP now owns 2,653,351 shares of the company's stock valued at $1,795,072,000 after buying an additional 2,642,200 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of IDEXX Laboratories by 63,503.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,444,445 shares of the company's stock valued at $977,210,000 after buying an additional 1,442,174 shares during the last quarter. Wellington Management Group LLP grew its position in shares of IDEXX Laboratories by 318.1% during the fourth quarter. Wellington Management Group LLP now owns 779,214 shares of the company's stock worth $527,162,000 after buying an additional 592,834 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of IDEXX Laboratories during the fourth quarter worth approximately $332,265,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IDXX shares. Citigroup assumed coverage on shares of IDEXX Laboratories in a report on Wednesday, April 15th. They issued a "neutral" rating and a $650.00 price target on the stock. UBS Group decreased their price objective on shares of IDEXX Laboratories from $730.00 to $640.00 and set a "neutral" rating for the company in a report on Tuesday, April 28th. Weiss Ratings downgraded shares of IDEXX Laboratories from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Finally, Stifel Nicolaus cut their target price on shares of IDEXX Laboratories from $775.00 to $675.00 and set a "buy" rating on the stock in a research note on Tuesday, March 31st. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, IDEXX Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $751.00.

IDEXX Laboratories Trading Up 0.9%

NASDAQ IDXX opened at $544.32 on Friday. 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 one year low of $518.55 and a one year high of $769.98. The company has a 50-day simple moving average of $556.27 and a 200-day simple moving average of $595.41. The firm has a market capitalization of $42.94 billion, a PE ratio of 40.08, a price-to-earnings-growth ratio of 2.95 and a beta of 1.55.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings data 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 net margin of 24.63% and a return on equity of 70.87%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business earned $2.91 earnings per share. IDEXX Laboratories's quarterly revenue was up 14.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. On average, equities analysts forecast that IDEXX Laboratories, Inc. will post 14.68 earnings per share for the current year.

IDEXX Laboratories Company 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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