IDEXX Laboratories, Inc. $IDXX Stock Position Lessened by Fundsmith LLP

Fundsmith LLP cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,610,457 shares of the company’s stock after selling 28,832 shares during the quarter. IDEXX Laboratories accounts for about 8.4% of Fundsmith LLP’s investment portfolio, making the stock its 2nd largest holding. Fundsmith LLP owned 3.27% of IDEXX Laboratories worth $1,667,795,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IDXX. Vanguard Group Inc. grew its holdings in shares of IDEXX Laboratories by 0.9% in the third quarter. Vanguard Group Inc. now owns 9,962,025 shares of the company’s stock worth $6,364,638,000 after acquiring an additional 86,040 shares during the period. Bank of New York Mellon Corp increased its position in shares of IDEXX Laboratories by 41.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,056,680 shares of the company’s stock valued at $1,313,992,000 after purchasing an additional 605,290 shares during the last quarter. Invesco Ltd. increased its position in shares of IDEXX Laboratories by 14.0% during the 3rd quarter. Invesco Ltd. now owns 1,320,263 shares of the company’s stock valued at $843,503,000 after purchasing an additional 161,782 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of IDEXX Laboratories by 16.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,315,722 shares of the company’s stock worth $840,638,000 after purchasing an additional 187,967 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of IDEXX Laboratories by 60.0% in the third quarter. JPMorgan Chase & Co. now owns 869,930 shares of the company’s stock worth $555,802,000 after buying an additional 326,348 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

IDXX has been the subject of several recent research reports. Wall Street Zen lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings cut shares of IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 29th. UBS Group cut their price objective on shares of IDEXX Laboratories from $750.00 to $730.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Piper Sandler decreased their target price on IDEXX Laboratories from $775.00 to $750.00 and set a “neutral” rating on the stock in a report on Monday, February 9th. Finally, Barclays lowered their target price on IDEXX Laboratories from $850.00 to $800.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $783.33.

Insider Buying and Selling

In other news, EVP Michael G. Erickson sold 5,371 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $627.38, for a total transaction of $3,369,657.98. Following the sale, the executive vice president owned 12,693 shares in the company, valued at $7,963,334.34. This trade represents a 29.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sophie V. Vandebroek sold 1,464 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $628.62, for a total transaction of $920,299.68. Following the sale, the director owned 648 shares in the company, valued at approximately $407,345.76. The trade was a 69.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 45,957 shares of company stock worth $29,862,109 in the last quarter. 0.98% of the stock is owned by insiders.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $573.82 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.23 and a debt-to-equity ratio of 0.23. The business’s 50-day simple moving average is $658.17 and its two-hundred day simple moving average is $666.52. The stock has a market cap of $45.69 billion, a PE ratio of 43.90, a P/E/G ratio of 3.47 and a beta of 1.66. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, February 2nd. The company reported $2.92 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.01). IDEXX Laboratories had a net margin of 24.62% and a return on equity of 69.78%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm earned $2.53 earnings per share. IDEXX Laboratories’s revenue was up 14.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2026 guidance at 14.290-14.800 EPS. As a group, analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

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.