SEB Asset Management AB Takes Position in IDEXX Laboratories, Inc. $IDXX

Key Points

• SEB Asset Management AB opened a new position in IDEXX Laboratories during the first quarter, buying 36,527 shares worth about $20.5 million.
• Institutional interest remains high, with several other funds increasing their holdings and 87.84% of IDEXX shares now owned by hedge funds and other institutional investors.
• IDEXX reported better-than-expected Q1 earnings, posting EPS of $3.47 on revenue of $1.14 billion, while analysts currently maintain a Moderate Buy consensus with an average price target of $751.

SEB Asset Management AB purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,527 shares of the company's stock, valued at approximately $20,524,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IDXX. Swiss National Bank boosted its holdings in IDEXX Laboratories by 6.9% in the first quarter. Swiss National Bank now owns 234,380 shares of the company's stock worth $131,696,000 after purchasing an additional 15,200 shares during the period. Mediolanum International Funds Ltd grew its position in shares of IDEXX Laboratories by 22.0% during the first quarter. Mediolanum International Funds Ltd now owns 42,865 shares of the company's stock worth $23,880,000 after acquiring an additional 7,734 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of IDEXX Laboratories by 21.4% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 119 shares of the company's stock worth $67,000 after acquiring an additional 21 shares during the last quarter. Gryphon Financial Partners LLC boosted its position in shares of IDEXX Laboratories by 44.3% during the first quarter. Gryphon Financial Partners LLC now owns 472 shares of the company's stock worth $265,000 after buying an additional 145 shares during the period. Finally, Gallacher Capital Management LLC bought a new position in shares of IDEXX Laboratories in the first quarter worth $371,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $567.44 on Monday. The company has a market cap of $44.76 billion, a P/E ratio of 41.78, a price-to-earnings-growth ratio of 3.10 and a beta of 1.55. The company's fifty day moving average is $554.49 and its two-hundred day moving average is $599.33. The company has a quick ratio of 0.82, a current ratio of 1.12 and a debt-to-equity ratio of 0.19. IDEXX Laboratories, Inc. has a 12-month low of $513.02 and a 12-month high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.06. The firm had revenue of $1.14 billion for 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 quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.91 earnings per share. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. Equities analysts expect that IDEXX Laboratories, Inc. will post 14.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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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