State of Michigan Retirement System Lowers Stake in IDEXX Laboratories, Inc. $IDXX

State of Michigan Retirement System lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 21.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 31,955 shares of the company’s stock after selling 8,800 shares during the period. State of Michigan Retirement System’s holdings in IDEXX Laboratories were worth $20,416,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. J.Safra Asset Management Corp bought a new stake in shares of IDEXX Laboratories in the third quarter worth about $31,000. Armstrong Advisory Group Inc. lifted its holdings in shares of IDEXX Laboratories by 55.9% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock worth $34,000 after acquiring an additional 19 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in IDEXX Laboratories in the third quarter worth about $35,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of IDEXX Laboratories during the 3rd quarter worth approximately $35,000. Finally, WealthCollab LLC purchased a new stake in shares of IDEXX Laboratories during the second quarter valued at $30,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Up 0.2%

IDXX stock opened at $644.61 on Friday. The firm has a 50-day simple moving average of $693.74 and a 200-day simple moving average of $664.98. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $769.98. The stock has a market capitalization of $51.47 billion, a P/E ratio of 49.32, a P/E/G ratio of 3.93 and a beta of 1.67. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.23.

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

Analysts Set New Price Targets

IDXX has been the topic of several research analyst reports. BTIG Research dropped their price objective on IDEXX Laboratories from $830.00 to $800.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a report on Monday, November 3rd. Morgan Stanley upped their price objective on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Stifel Nicolaus set a $775.00 price target on IDEXX Laboratories in a research report on Monday, November 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of 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 issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $777.78.

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.