Fifth Third Bancorp Grows Stock Position in IDEXX Laboratories, Inc. $IDXX

Fifth Third Bancorp lifted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 217.3% during the first quarter, HoldingsChannel.com reports. The fund owned 23,848 shares of the company’s stock after acquiring an additional 16,332 shares during the period. Fifth Third Bancorp’s holdings in IDEXX Laboratories were worth $13,400,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Empowered Funds LLC raised its stake in IDEXX Laboratories by 6.6% in the 1st quarter. Empowered Funds LLC now owns 1,538 shares of the company’s stock valued at $646,000 after purchasing an additional 95 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in IDEXX Laboratories during the 2nd quarter worth $265,000. Jump Financial LLC grew its holdings in shares of IDEXX Laboratories by 1,006.4% during the second quarter. Jump Financial LLC now owns 5,532 shares of the company’s stock worth $2,967,000 after buying an additional 5,032 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of IDEXX Laboratories during the second quarter worth $164,000. Finally, Sei Investments Co. grew its holdings in shares of IDEXX Laboratories by 218.7% during the second quarter. Sei Investments Co. now owns 120,587 shares of the company’s stock worth $64,678,000 after buying an additional 82,755 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on IDXX. Weiss Ratings raised shares of IDEXX Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. Citigroup started coverage on shares of IDEXX Laboratories in a research note on Wednesday, April 15th. They set a “neutral” rating and a $650.00 price objective for the company. Wall Street Zen downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Sunday. UBS Group cut their price objective on shares of IDEXX Laboratories from $730.00 to $640.00 and set a “neutral” rating for the company in a report on Tuesday, April 28th. Finally, Stifel Nicolaus decreased their target price on shares of IDEXX Laboratories from $775.00 to $675.00 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $751.00.

IDEXX Laboratories Stock Down 4.2%

Shares of NASDAQ:IDXX opened at $540.68 on Wednesday. The business has a 50-day moving average price of $554.71 and a 200 day moving average price of $601.89. The company has a current ratio of 1.12, a quick ratio of 0.82 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $42.65 billion, a price-to-earnings ratio of 39.81, a PEG ratio of 3.09 and a beta of 1.55. IDEXX Laboratories, Inc. has a 12-month low of $506.91 and a 12-month high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.06. IDEXX Laboratories had a net margin of 24.63% and a return on equity of 70.87%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the firm earned $2.91 EPS. IDEXX Laboratories’s revenue was up 14.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 14.68 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.