Norges Bank Invests $332.27 Million in IDEXX Laboratories, Inc. $IDXX

Norges Bank purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 491,131 shares of the company’s stock, valued at approximately $332,265,000. Norges Bank owned 0.62% of IDEXX Laboratories as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Virtus Advisers LLC purchased a new position in shares of IDEXX Laboratories during the third quarter worth $26,000. Park Place Capital Corp purchased a new position in IDEXX Laboratories in the fourth quarter valued at $29,000. WealthCollab LLC purchased a new position in IDEXX Laboratories in the second quarter valued at $30,000. Greykasell Wealth Strategies Inc. purchased a new position in IDEXX Laboratories in the third quarter valued at $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in IDEXX Laboratories in the third quarter valued at $36,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Up 0.6%

Shares of NASDAQ IDXX opened at $566.79 on Tuesday. The company has a market capitalization of $44.71 billion, a price-to-earnings ratio of 41.74, a price-to-earnings-growth ratio of 3.27 and a beta of 1.56. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.12 and a quick ratio of 0.82. The business has a 50-day moving average of $564.32 and a two-hundred day moving average of $635.65. IDEXX Laboratories, Inc. has a 1 year low of $504.56 and a 1 year high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly 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. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. IDEXX Laboratories had a return on equity of 70.87% and a net margin of 24.63%.IDEXX Laboratories’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.91 EPS. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. On average, analysts forecast that IDEXX Laboratories, Inc. will post 14.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IDXX. BTIG Research decreased their target price on IDEXX Laboratories from $830.00 to $800.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Stifel Nicolaus decreased their target price on IDEXX Laboratories from $775.00 to $675.00 and set a “buy” rating for the company in a report on Tuesday, March 31st. Barclays decreased their target price on IDEXX Laboratories from $850.00 to $800.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. UBS Group decreased their target price on IDEXX Laboratories from $730.00 to $640.00 and set a “neutral” rating for the company in a report on Tuesday, April 28th. Finally, Piper Sandler decreased their target price on IDEXX Laboratories from $775.00 to $750.00 and set a “neutral” rating for the company in a report on Monday, February 9th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $751.00.

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.