Fifth Third Bancorp Acquires 1,392 Shares of IDEXX Laboratories, Inc. $IDXX

Fifth Third Bancorp grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 23.3% in the third quarter, HoldingsChannel.com reports. The firm owned 7,374 shares of the company’s stock after purchasing an additional 1,392 shares during the period. Fifth Third Bancorp’s holdings in IDEXX Laboratories were worth $4,711,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of IDXX. Bank of New York Mellon Corp grew its holdings in IDEXX Laboratories by 156.2% during the second quarter. Bank of New York Mellon Corp now owns 1,451,390 shares of the company’s stock worth $778,439,000 after buying an additional 884,808 shares in the last quarter. Generation Investment Management LLP purchased a new position in IDEXX Laboratories during the 2nd quarter worth $304,277,000. Norges Bank bought a new stake in shares of IDEXX Laboratories in the 2nd quarter worth $221,955,000. JPMorgan Chase & Co. raised its holdings in shares of 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 purchasing an additional 326,348 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of IDEXX Laboratories by 295.1% in the second quarter. Schroder Investment Management Group now owns 315,785 shares of the company’s stock valued at $169,368,000 after purchasing an additional 235,863 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $626.17 on Wednesday. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $769.98. The business has a fifty day simple moving average of $681.98 and a two-hundred day simple moving average of $669.66. The company has a market capitalization of $50.00 billion, a P/E ratio of 47.91, a P/E/G ratio of 3.83 and a beta of 1.67. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.23 and a quick ratio of 0.90.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Monday, February 2nd. The company reported $2.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.01). The business 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%.IDEXX Laboratories’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.53 EPS. IDEXX Laboratories has set its FY 2026 guidance at 14.290-14.800 EPS. On average, analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP George Fennell sold 11,345 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $646.72, for a total transaction of $7,337,038.40. Following the sale, the executive vice president owned 9,823 shares of the company’s stock, valued at approximately $6,352,730.56. This represents a 53.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Leerink Partners set a $785.00 target price on IDEXX Laboratories in a report on Monday, November 3rd. Piper Sandler dropped their price target on IDEXX Laboratories from $775.00 to $750.00 and set a “neutral” rating on the stock in a report on Monday, February 9th. BTIG Research cut their price objective on IDEXX Laboratories from $830.00 to $800.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. upped their price objective on IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.