IDEXX Laboratories, Inc. $IDXX Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 217.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,848 shares of the company’s stock after buying an additional 16,332 shares during the quarter. Fifth Third Bancorp’s holdings in IDEXX Laboratories were worth $13,400,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sachetta LLC raised its position in IDEXX Laboratories by 1,588.9% during the first quarter. Sachetta LLC now owns 304 shares of the company’s stock valued at $171,000 after acquiring an additional 286 shares in the last quarter. Simplicity Wealth LLC lifted its holdings in IDEXX Laboratories by 28.1% in the first quarter. Simplicity Wealth LLC now owns 556 shares of the company’s stock valued at $312,000 after acquiring an additional 122 shares during the period. Candriam S.C.A. boosted its position in IDEXX Laboratories by 26.6% in the 1st quarter. Candriam S.C.A. now owns 64,015 shares of the company’s stock worth $35,969,000 after purchasing an additional 13,456 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in IDEXX Laboratories by 18.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,701 shares of the company’s stock worth $2,641,000 after purchasing an additional 716 shares in the last quarter. Finally, Main Street Research LLC acquired a new stake in shares of IDEXX Laboratories during the 1st quarter worth approximately $251,000. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $540.68 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 1.12. The stock has a market capitalization of $42.65 billion, a PE ratio of 39.81, a P/E/G ratio of 3.09 and a beta of 1.55. 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 fifty day moving average of $554.71 and a two-hundred day moving average of $601.89.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results 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. The business had revenue of $1.14 billion for 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%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.91 earnings per share. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. As a group, research analysts forecast that IDEXX Laboratories, Inc. will post 14.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IDXX shares. UBS Group cut their target price 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. Wall Street Zen downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Sunday. Citigroup initiated coverage on shares of IDEXX Laboratories in a research report on Wednesday, April 15th. They set a “neutral” rating and a $650.00 price target on the stock. Weiss Ratings raised shares of IDEXX Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 25th. Finally, Stifel Nicolaus lowered 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 investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock 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.