IDEXX Laboratories, Inc. $IDXX Shares Sold by Weitz Investment Management Inc.

Weitz Investment Management Inc. cut its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,800 shares of the company’s stock after selling 3,500 shares during the quarter. IDEXX Laboratories comprises about 2.0% of Weitz Investment Management Inc.’s investment portfolio, making the stock its 20th biggest holding. Weitz Investment Management Inc.’s holdings in IDEXX Laboratories were worth $36,289,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Blalock Williams LLC bought a new position in shares of IDEXX Laboratories in the third quarter valued at approximately $590,000. New York State Common Retirement Fund raised its position in IDEXX Laboratories by 6.8% in the third quarter. New York State Common Retirement Fund now owns 60,225 shares of the company’s stock worth $38,477,000 after purchasing an additional 3,820 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in IDEXX Laboratories in the 2nd quarter valued at $405,000. Mediolanum International Funds Ltd grew its stake in IDEXX Laboratories by 14.5% during the third quarter. Mediolanum International Funds Ltd now owns 38,761 shares of the company’s stock worth $24,441,000 after buying an additional 4,909 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in IDEXX Laboratories by 16.7% in the third 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 in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IDXX has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $830.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, November 4th. Weiss Ratings lowered shares of IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 29th. Morgan Stanley increased their target price on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. boosted their target price on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Finally, Barclays cut 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. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and an average target price of $783.33.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Michael G. Erickson sold 5,371 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $627.38, for a total value of $3,369,657.98. Following the sale, the executive vice president owned 12,693 shares of the company’s stock, valued at $7,963,334.34. This trade represents a 29.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sophie V. Vandebroek sold 1,464 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $628.62, for a total transaction of $920,299.68. Following the completion of the transaction, the director directly owned 648 shares in the company, valued at $407,345.76. The trade was a 69.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 18,180 shares of company stock valued at $11,626,996. 0.98% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Trading Up 4.2%

Shares of IDEXX Laboratories stock opened at $649.35 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.23 and a quick ratio of 0.90. The firm has a market cap of $51.70 billion, a PE ratio of 49.68, a P/E/G ratio of 3.79 and a beta of 1.67. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $769.98. The stock has a fifty day moving average price of $675.31 and a 200-day moving average price of $669.07.

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