Bank of New York Mellon Corp Sells 119,937 Shares of IDEXX Laboratories, Inc. $IDXX

Bank of New York Mellon Corp decreased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,504,532 shares of the company’s stock after selling 119,937 shares during the quarter. Bank of New York Mellon Corp’s holdings in IDEXX Laboratories were worth $845,381,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of IDXX. SHP Wealth Management acquired a new position in IDEXX Laboratories in the fourth quarter valued at approximately $26,000. Virtus Advisers LLC acquired a new stake in IDEXX Laboratories during the 3rd quarter worth $26,000. Park Place Capital Corp acquired a new stake in IDEXX Laboratories during the 4th quarter worth $29,000. WealthCollab LLC acquired a new stake in IDEXX Laboratories during the 2nd quarter worth $30,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at $36,000. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Price Performance

IDXX opened at $576.07 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.12 and a debt-to-equity ratio of 0.19. IDEXX Laboratories, Inc. has a 12 month low of $513.02 and a 12 month high of $769.98. The company has a fifty day simple moving average of $554.35 and a 200 day simple moving average of $600.17. The stock has a market cap of $45.44 billion, a P/E ratio of 42.42, a P/E/G ratio of 3.05 and a beta of 1.55.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Tuesday, May 5th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.06. IDEXX Laboratories had a return on equity of 70.87% and a net margin of 24.63%.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 company posted $2.91 earnings per share. 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 14.450-14.900 EPS. On average, research analysts expect that IDEXX Laboratories, Inc. will post 14.68 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IDXX. Stifel Nicolaus cut their price target on IDEXX Laboratories from $775.00 to $675.00 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Citigroup initiated coverage on 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 IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. UBS Group cut their target price on IDEXX Laboratories from $730.00 to $640.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 28th. Finally, Weiss Ratings cut IDEXX Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $751.00.

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.