Legal & General Group Plc Grows Position in IDEXX Laboratories, Inc. $IDXX

Legal & General Group Plc increased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 675,535 shares of the company’s stock after buying an additional 26,909 shares during the period. Legal & General Group Plc’s holdings in IDEXX Laboratories were worth $431,593,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. J.Safra Asset Management Corp bought a new position in shares of IDEXX Laboratories in the third quarter worth approximately $31,000. Armstrong Advisory Group Inc. grew its position in IDEXX Laboratories by 55.9% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock worth $34,000 after purchasing an additional 19 shares during the period. Salomon & Ludwin LLC purchased a new stake in IDEXX Laboratories during the 3rd quarter valued at $35,000. Greykasell Wealth Strategies Inc. bought a new position in shares of IDEXX Laboratories during the 3rd quarter valued at $35,000. Finally, WealthCollab LLC bought a new position in shares of IDEXX Laboratories during the 2nd quarter valued at $30,000. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Trading Down 1.9%

Shares of NASDAQ:IDXX opened at $598.85 on Wednesday. The stock has a 50 day moving average of $663.72 and a 200 day moving average of $668.13. The company has a market cap of $47.68 billion, a PE ratio of 45.82, a price-to-earnings-growth ratio of 3.71 and a beta of 1.66. The company has a current ratio of 1.23, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Monday, February 2nd. The company reported $2.92 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.01). IDEXX Laboratories had a return on equity of 69.78% and a net margin of 24.62%.The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the business posted $2.53 EPS. 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, equities research analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Activity

In other news, EVP Nimrata Hunt sold 1,758 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $634.57, for a total transaction of $1,115,574.06. Following the sale, the executive vice president directly owned 18,141 shares in the company, valued at $11,511,734.37. This trade represents a 8.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sophie V. Vandebroek sold 1,464 shares of the company’s 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 of the company’s stock, valued at $407,345.76. This represents a 69.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 45,957 shares of company stock worth $29,862,109. 0.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on IDXX. Piper Sandler cut 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. Wall Street Zen downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Weiss Ratings cut IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 29th. Barclays cut their price target on IDEXX Laboratories from $850.00 to $800.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Finally, UBS Group reduced their price target 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. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $783.33.

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.