Franklin Resources Inc. Lowers Stake in IDEXX Laboratories, Inc. $IDXX

Franklin Resources Inc. cut its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 572,978 shares of the company’s stock after selling 19,671 shares during the quarter. Franklin Resources Inc. owned about 0.72% of IDEXX Laboratories worth $366,070,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of IDEXX Laboratories by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,962,025 shares of the company’s stock valued at $6,364,638,000 after purchasing an additional 86,040 shares in the last quarter. Geode Capital Management LLC increased its position in IDEXX Laboratories by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,464,290 shares of the company’s stock worth $1,317,875,000 after purchasing an additional 54,402 shares in the last quarter. Bank of New York Mellon Corp increased its position in 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 worth $1,313,992,000 after purchasing an additional 605,290 shares in the last quarter. Principal Financial Group Inc. raised its holdings 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 valued at $840,638,000 after buying an additional 187,967 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in IDEXX Laboratories by 60.0% in the third quarter. JPMorgan Chase & Co. now owns 869,930 shares of the company’s stock valued at $555,802,000 after buying an additional 326,348 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Up 0.3%

NASDAQ IDXX opened at $600.52 on Thursday. The stock has a market cap of $47.81 billion, a PE ratio of 45.95, a P/E/G ratio of 3.64 and a beta of 1.66. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $769.98. The business has a 50 day moving average price of $662.20 and a two-hundred day moving average price of $667.66. The company has a quick ratio of 0.90, a current ratio of 1.23 and a debt-to-equity ratio of 0.23.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Monday, February 2nd. The company reported $2.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.01). IDEXX Laboratories had a net margin of 24.62% and a return on equity of 69.78%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business earned $2.53 EPS. The company’s revenue for the quarter 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, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other news, CEO Jonathan Jay Mazelsky sold 23,326 shares of IDEXX Laboratories stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $657.55, for a total transaction of $15,338,011.30. Following the sale, the chief executive officer directly owned 83,606 shares of the company’s stock, valued at approximately $54,975,125.30. The trade was a 21.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sophie V. Vandebroek sold 1,464 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $628.62, for a total value of $920,299.68. Following the completion of the transaction, the director owned 648 shares in the company, valued at approximately $407,345.76. This trade represents a 69.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 45,957 shares of company stock worth $29,862,109 over the last three months. Insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

IDXX has been the subject of several research reports. Wall Street Zen downgraded shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Piper Sandler cut their target price on shares of IDEXX Laboratories from $775.00 to $750.00 and set a “neutral” rating on the stock in a research note on Monday, February 9th. BTIG Research reduced their target price on shares of IDEXX Laboratories from $830.00 to $800.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Barclays decreased their price target on shares of IDEXX Laboratories from $850.00 to $800.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Finally, Weiss Ratings downgraded IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 29th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $783.33.

IDEXX Laboratories Company 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.