DAVENPORT & Co LLC Decreases Position in IDEXX Laboratories, Inc. $IDXX

DAVENPORT & Co LLC trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 35.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,333 shares of the company’s stock after selling 1,857 shares during the period. DAVENPORT & Co LLC’s holdings in IDEXX Laboratories were worth $2,255,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Virtus Advisers LLC purchased a new stake in IDEXX Laboratories during the 3rd quarter valued at $26,000. Park Place Capital Corp bought a new stake in IDEXX Laboratories in the fourth quarter worth $29,000. J.Safra Asset Management Corp purchased a new position in IDEXX Laboratories during the third quarter worth $31,000. Armstrong Advisory Group Inc. increased its position in IDEXX Laboratories by 55.9% during the third quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock valued at $34,000 after acquiring an additional 19 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new position in IDEXX Laboratories during the third quarter valued at $35,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 2.6%

NASDAQ:IDXX opened at $558.32 on Friday. The company has a market cap of $44.40 billion, a price-to-earnings ratio of 42.72, a price-to-earnings-growth ratio of 3.39 and a beta of 1.66. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $769.98. The company has a current ratio of 1.23, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $631.32 and a 200-day simple moving average of $661.91.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, February 2nd. The company reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.15. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. IDEXX Laboratories had a net margin of 24.62% and a return on equity of 69.78%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.53 earnings per share. IDEXX Laboratories has set its FY 2026 guidance at 14.290-14.800 EPS. Analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IDXX shares. Piper Sandler lowered their target price on shares of IDEXX Laboratories from $775.00 to $750.00 and set a “neutral” rating for the company in a report on Monday, February 9th. BTIG Research cut their price target 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. UBS Group reduced their price objective on shares of IDEXX Laboratories from $750.00 to $730.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 3rd. Weiss Ratings downgraded shares of IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 29th. Finally, Wall Street Zen lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $783.33.

Insider Buying and Selling

In other IDEXX Laboratories news, EVP Michael G. Erickson sold 5,371 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $627.38, for a total value of $3,369,657.98. Following the transaction, the executive vice president directly owned 12,693 shares in the company, valued at $7,963,334.34. This represents a 29.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jonathan Jay Mazelsky sold 23,326 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 83,606 shares in the company, valued at approximately $54,975,125.30. This trade represents a 21.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 45,957 shares of company stock worth $29,862,109 over the last 90 days. Corporate insiders own 0.98% of the company’s stock.

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.