Bank of New York Mellon Corp Sells 432,211 Shares of IDEXX Laboratories, Inc. $IDXX

Bank of New York Mellon Corp decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 21.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,624,469 shares of the company’s stock after selling 432,211 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.03% of IDEXX Laboratories worth $1,099,002,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Empowered Funds LLC lifted its position in shares of IDEXX Laboratories by 6.6% in the first quarter. Empowered Funds LLC now owns 1,538 shares of the company’s stock valued at $646,000 after acquiring an additional 95 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of IDEXX Laboratories during the second quarter worth about $265,000. Jump Financial LLC grew its position 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 purchasing an additional 5,032 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in IDEXX Laboratories during the 2nd quarter valued at approximately $164,000. Finally, Sei Investments Co. lifted its holdings in IDEXX Laboratories by 218.7% in the 2nd quarter. Sei Investments Co. now owns 120,587 shares of the company’s stock worth $64,678,000 after purchasing an additional 82,755 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

IDXX has been the subject of a number of research analyst reports. Piper Sandler cut their price objective 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. Wall Street Zen downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Barclays dropped their price objective on shares of IDEXX Laboratories from $850.00 to $800.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Citigroup assumed coverage on IDEXX Laboratories in a report on Wednesday, April 15th. They issued a “neutral” rating and a $650.00 target price on the stock. Finally, Weiss Ratings lowered IDEXX Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $751.00.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $550.82 on Wednesday. The business’s 50 day moving average price is $564.32 and its 200-day moving average price is $635.65. IDEXX Laboratories, Inc. has a fifty-two week low of $506.91 and a fifty-two week high of $769.98. The company has a market cap of $43.45 billion, a P/E ratio of 40.56, a P/E/G ratio of 3.29 and a beta of 1.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 1.12.

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

IDEXX Laboratories 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.