Sei Investments Co. Sells 41,390 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Sei Investments Co. cut its stake in IDEXX Laboratories by 30.5% in the first quarter, selling 41,390 shares and leaving it with 94,486 shares worth about $53.1 million.
• Analysts have turned slightly less bullish on the stock, with several recent rating and price target cuts. IDEXX still has a Moderate Buy consensus, with an average target price of $751.
• IDEXX reported solid quarterly results, beating earnings and revenue estimates, and raised its full-year guidance. The stock was trading at $544.32, below its 50-day and 200-day moving averages.

Sei Investments Co. decreased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 30.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 94,486 shares of the company's stock after selling 41,390 shares during the period. Sei Investments Co. owned approximately 0.12% of IDEXX Laboratories worth $53,089,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Harbour Investments Inc. grew its stake in IDEXX Laboratories by 13.3% in the fourth quarter. Harbour Investments Inc. now owns 136 shares of the company's stock valued at $92,000 after acquiring an additional 16 shares during the period. Rockland Trust Co. raised its position in shares of IDEXX Laboratories by 4.4% during the fourth quarter. Rockland Trust Co. now owns 425 shares of the company's stock worth $288,000 after purchasing an additional 18 shares during the period. Prime Capital Investment Advisors LLC raised its position in shares of IDEXX Laboratories by 0.5% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 3,923 shares of the company's stock worth $2,654,000 after purchasing an additional 18 shares during the period. Pinnacle Associates Ltd. lifted its holdings in shares of IDEXX Laboratories by 1.5% during the 4th quarter. Pinnacle Associates Ltd. now owns 1,227 shares of the company's stock valued at $830,000 after purchasing an additional 18 shares in the last quarter. Finally, Triad Wealth Partners LLC lifted its holdings in shares of IDEXX Laboratories by 3.1% during the 1st quarter. Triad Wealth Partners LLC now owns 600 shares of the company's stock valued at $337,000 after purchasing an additional 18 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on IDXX shares. Weiss Ratings cut IDEXX Laboratories from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, July 14th. Wall Street Zen cut shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Citigroup initiated coverage on shares of IDEXX Laboratories in a report on Wednesday, April 15th. They set a "neutral" rating and a $650.00 price objective on the stock. Stifel Nicolaus reduced their target price on shares of 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 lowered their target price on IDEXX Laboratories from $730.00 to $640.00 and set a "neutral" rating for the company in a report on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, IDEXX Laboratories currently has a consensus rating of "Moderate Buy" and an average target price of $751.00.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $544.32 on Friday. The firm's 50 day moving average is $556.27 and its 200-day moving average is $595.41. The company has a quick ratio of 0.82, a current ratio of 1.12 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $42.94 billion, a PE ratio of 40.08, a price-to-earnings-growth ratio of 2.98 and a beta of 1.55. IDEXX Laboratories, Inc. has a 12-month low of $518.55 and a 12-month high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $3.47 EPS 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 business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the prior year, the company posted $2.91 earnings per share. The firm's 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. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 14.68 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.