Bank of New York Mellon Corp Reduces Stock Position in IDEXX Laboratories, Inc. $IDXX

Bank of New York Mellon Corp lessened its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 21.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,624,469 shares of the company’s stock after selling 432,211 shares during the period. Bank of New York Mellon Corp’s holdings in IDEXX Laboratories were worth $1,099,002,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in IDXX. Vanguard Group Inc. grew its stake in IDEXX Laboratories by 0.9% in the 3rd 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 in the last quarter. Elyxium Wealth LLC bought a new position in IDEXX Laboratories in the fourth quarter worth approximately $3,666,459,000. Geode Capital Management LLC increased its holdings in IDEXX Laboratories by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 2,583,939 shares of the company’s stock worth $1,749,380,000 after purchasing an additional 86,263 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in IDEXX Laboratories by 63,503.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,444,445 shares of the company’s stock valued at $977,210,000 after purchasing an additional 1,442,174 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of IDEXX Laboratories by 14.0% in the 3rd quarter. Invesco Ltd. now owns 1,320,263 shares of the company’s stock worth $843,503,000 after buying an additional 161,782 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IDXX has been the subject of several recent research reports. Piper Sandler decreased their price objective on IDEXX Laboratories from $775.00 to $750.00 and set a “neutral” rating for the company in a report on Monday, February 9th. UBS Group dropped 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 note on Tuesday, April 28th. BTIG Research reduced their price objective on shares of IDEXX Laboratories from $830.00 to $800.00 and set a “buy” rating for the company in a research note on Tuesday, February 3rd. Citigroup started coverage on IDEXX Laboratories in a research report on Wednesday, April 15th. They set a “neutral” rating and a $650.00 target price on the stock. Finally, Barclays reduced their price target on IDEXX Laboratories from $850.00 to $800.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $751.00.

IDEXX Laboratories Stock Down 2.8%

IDXX stock opened at $550.82 on Wednesday. The stock has a market capitalization of $43.45 billion, a PE ratio of 40.56, a price-to-earnings-growth ratio of 3.29 and a beta of 1.55. IDEXX Laboratories, Inc. has a 52 week low of $506.91 and a 52 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. The firm has a 50 day moving average of $564.32 and a 200 day moving average of $635.65.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Tuesday, May 5th. The company reported $3.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.06. IDEXX Laboratories had a return on equity of 70.87% and a net margin of 24.63%.The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business posted $2.91 EPS. The firm’s quarterly 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. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 14.68 earnings per share for the current 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.