Sumitomo Mitsui Trust Group Inc. Sells 11,235 Shares of IDEXX Laboratories, Inc. $IDXX

Sumitomo Mitsui Trust Group Inc. decreased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,871 shares of the company’s stock after selling 11,235 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in IDEXX Laboratories were worth $111,182,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Elyxium Wealth LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at about $3,666,459,000. J. Stern & Co. LLP grew its position in IDEXX Laboratories by 23,694.7% in the 4th quarter. J. Stern & Co. LLP now owns 2,653,351 shares of the company’s stock worth $1,795,072,000 after purchasing an additional 2,642,200 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in IDEXX Laboratories by 63,503.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,444,445 shares of the company’s stock valued at $977,210,000 after buying an additional 1,442,174 shares during the last quarter. Wellington Management Group LLP increased its stake in IDEXX Laboratories by 318.1% in the 4th quarter. Wellington Management Group LLP now owns 779,214 shares of the company’s stock valued at $527,162,000 after buying an additional 592,834 shares during the last quarter. Finally, Norges Bank bought a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $332,265,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on IDXX shares. UBS Group cut their target price on IDEXX Laboratories from $730.00 to $640.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 28th. Wall Street Zen raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Citigroup began coverage on IDEXX Laboratories in a report on Wednesday, April 15th. They set a “neutral” rating and a $650.00 price target on the stock. Weiss Ratings raised IDEXX Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 25th. Finally, Stifel Nicolaus reduced their price objective on IDEXX Laboratories from $775.00 to $675.00 and set a “buy” rating for the company in a research note on Tuesday, March 31st. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $751.00.

IDEXX Laboratories Stock Performance

Shares of IDXX stock traded up $4.97 during trading hours on Friday, hitting $563.57. 612,524 shares of the company were exchanged, compared to its average volume of 657,640. The company has a current ratio of 1.12, a quick ratio of 0.82 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $44.45 billion, a price-to-earnings ratio of 41.50, a P/E/G ratio of 3.06 and a beta of 1.55. The firm has a fifty day simple moving average of $555.09 and a 200 day simple moving average of $604.44. IDEXX Laboratories, Inc. has a 52-week low of $506.91 and a 52-week high of $769.98.

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

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.