Sumitomo Mitsui Trust Group Inc. Has $111.18 Million Stake in IDEXX Laboratories, Inc. $IDXX

Key Points

• Sumitomo Mitsui Trust Group trimmed its IDEXX Laboratories stake by 5.4% in the first quarter, but still held 197,871 shares valued at about $111.2 million.
• Analyst sentiment remains broadly positive, with seven Buy ratings and four Hold ratings; the consensus view is Moderate Buy with a price target of $751.
• IDEXX reported better-than-expected Q1 earnings of $3.47 per share on $1.14 billion in revenue, and the stock was trading near $563.57 after rising 0.9% in Friday trading.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 5.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 197,871 shares of the company's stock after selling 11,235 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of IDEXX Laboratories worth $111,182,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. SHP Wealth Management bought a new stake in IDEXX Laboratories in the fourth quarter worth approximately $26,000. Virtus Advisers LLC acquired a new position in IDEXX Laboratories in the third quarter valued at approximately $26,000. Park Place Capital Corp bought a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $29,000. WealthCollab LLC acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter worth approximately $30,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of IDEXX Laboratories in the 3rd quarter valued at $36,000. 87.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Weiss Ratings raised shares of IDEXX Laboratories from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 25th. Citigroup began coverage on shares of IDEXX Laboratories in a research note on Wednesday, April 15th. They issued a "neutral" rating and a $650.00 price target for the company. Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. UBS Group cut their price objective on shares of IDEXX Laboratories from $730.00 to $640.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 28th. Finally, Stifel Nicolaus reduced their target price 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. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $751.00.

IDEXX Laboratories Stock Up 0.9%

IDXX stock traded up $4.97 during midday trading on Friday, reaching $563.57. 612,524 shares of the company's stock traded hands, compared to its average volume of 657,640. The company has a market cap of $44.45 billion, a price-to-earnings ratio of 41.50, a P/E/G ratio of 3.06 and a beta of 1.55. The firm's fifty day moving average price is $555.09 and its 200-day moving average price is $604.44. 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 52 week low of $506.91 and a 52 week high of $769.98.

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, beating analysts' consensus estimates 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 net margin of 24.63% and a return on equity of 70.87%. The business's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the firm earned $2.91 earnings per share. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. As a group, sell-side analysts forecast 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.

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