VIRGINIA RETIREMENT SYSTEMS ET Al Reduces Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Virginia Retirement Systems Et Al cut its IDEXX Laboratories stake by 12.7% in the fourth quarter, selling 9,720 shares and ending with 67,088 shares valued at about $45.4 million.
• IDEXX reported stronger-than-expected quarterly results, posting EPS of $3.47 versus $3.41 expected and revenue of $1.14 billion versus $1.12 billion expected, with revenue up 14.3% year over year.
• Analyst sentiment remains positive but price targets have been trimmed, with seven Buy ratings and four Hold ratings; the consensus target price is $751, while several firms recently lowered their targets.

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,088 shares of the company's stock after selling 9,720 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.08% of IDEXX Laboratories worth $45,387,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Virtus Advisers LLC purchased a new stake in shares of IDEXX Laboratories in the third quarter valued at about $26,000. Park Place Capital Corp purchased a new stake in shares of IDEXX Laboratories in the fourth quarter valued at about $29,000. J.Safra Asset Management Corp acquired a new position in IDEXX Laboratories in the third quarter valued at about $31,000. Mowery & Schoenfeld Wealth Management LLC lifted its position in IDEXX Laboratories by 58.8% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 54 shares of the company's stock valued at $37,000 after buying an additional 20 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new position in IDEXX Laboratories in the third quarter valued at about $35,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Up 0.4%

Shares of NASDAQ:IDXX opened at $533.92 on Wednesday. The firm's 50 day moving average price is $578.69 and its 200 day moving average price is $647.92. The stock has a market cap of $42.12 billion, a price-to-earnings ratio of 39.32, a price-to-earnings-growth ratio of 3.10 and a beta of 1.58. IDEXX Laboratories, Inc. has a fifty-two week low of $496.61 and a fifty-two week high of $769.98. 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 (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $3.47 EPS for the quarter, beating 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 company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm 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. As a group, equities research analysts predict that IDEXX Laboratories, Inc. will post 14.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IDXX has been the topic of a number of recent analyst reports. BTIG Research decreased their target price on shares of IDEXX Laboratories from $830.00 to $800.00 and set a "buy" rating on the stock in a research report on Tuesday, February 3rd. Weiss Ratings cut shares of IDEXX Laboratories from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday. Stifel Nicolaus decreased 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 report on Tuesday, March 31st. Barclays decreased their target price on shares of IDEXX Laboratories from $850.00 to $800.00 and set an "overweight" rating on the stock in a research report on Thursday, February 5th. Finally, UBS Group decreased their target price 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. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $751.00.

Insiders Place Their Bets

In related news, CEO Jonathan Jay Mazelsky sold 23,326 shares of the business's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $657.55, for a total value of $15,338,011.30. Following the completion of the transaction, the chief executive officer owned 83,606 shares of the company's stock, valued at approximately $54,975,125.30. The trade was a 21.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nimrata Hunt sold 1,758 shares of IDEXX Laboratories stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $634.57, for a total value of $1,115,574.06. Following the completion of the sale, the executive vice president owned 18,141 shares of the company's stock, valued at $11,511,734.37. This trade represents a 8.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 34,612 shares of company stock worth $22,525,070 in the last ninety days. 0.79% of the stock is owned by insiders.

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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