Swedbank AB Has $20.14 Million Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Swedbank AB trimmed its IDEXX stake by 5.6% in the first quarter, selling 2,109 shares and ending with 35,853 shares worth about $20.1 million.
• IDEXX posted solid quarterly results, reporting EPS of $3.47 versus estimates of $3.41 and revenue of $1.14 billion, up 14.3% year over year.
• Wall Street remains cautiously positive on the stock, with a consensus rating of Moderate Buy and an average price target of $751, though several firms recently lowered targets or kept neutral ratings.

Swedbank AB lessened its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,853 shares of the company's stock after selling 2,109 shares during the period. Swedbank AB's holdings in IDEXX Laboratories were worth $20,145,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of IDXX. Empowered Funds LLC grew its holdings in shares of IDEXX Laboratories by 6.6% during the 1st quarter. Empowered Funds LLC now owns 1,538 shares of the company's stock valued at $646,000 after purchasing an additional 95 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of IDEXX Laboratories during the second quarter worth $265,000. Jump Financial LLC grew its stake in shares of IDEXX Laboratories by 1,006.4% during the second quarter. Jump Financial LLC now owns 5,532 shares of the company's stock worth $2,967,000 after buying an additional 5,032 shares during the last quarter. Cary Street Partners Financial LLC acquired a new position in shares of IDEXX Laboratories during the second quarter worth $164,000. Finally, Sei Investments Co. increased its holdings in shares of IDEXX Laboratories by 218.7% during the second quarter. Sei Investments Co. now owns 120,587 shares of the company's stock worth $64,678,000 after buying an additional 82,755 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $558.60 on Friday. The stock's 50 day moving average is $554.89 and its 200 day moving average is $604.73. IDEXX Laboratories, Inc. has a one year low of $506.91 and a one year high of $769.98. The firm has a market cap of $44.06 billion, a P/E ratio of 41.13, a P/E/G ratio of 3.04 and a beta of 1.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.12 and a quick ratio of 0.82.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.06. The firm had revenue of $1.14 billion during 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 company's revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.91 EPS. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. As a group, research analysts expect that IDEXX Laboratories, Inc. will post 14.68 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.

Want to see what other hedge funds are holding IDXX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report).

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.