Renaissance Technologies LLC Takes Position in IDEXX Laboratories, Inc. $IDXX

Renaissance Technologies LLC purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the first quarter, Holdings Channel reports. The institutional investor purchased 48,504 shares of the company’s stock, valued at approximately $27,254,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SHP Wealth Management acquired a new position in IDEXX Laboratories during the fourth quarter worth $26,000. Virtus Advisers LLC acquired a new stake in shares of IDEXX Laboratories in the third quarter valued at about $26,000. WealthCollab LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at about $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of IDEXX Laboratories during the third quarter worth about $36,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of IDEXX Laboratories by 58.8% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 54 shares of the company’s stock worth $37,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 0.0%

Shares of NASDAQ:IDXX opened at $569.46 on Thursday. The business has a 50-day moving average price of $557.25 and a 200 day moving average price of $591.71. 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 company has a market capitalization of $44.92 billion, a price-to-earnings ratio of 41.93, a PEG ratio of 3.12 and a beta of 1.55. IDEXX Laboratories, Inc. has a 12-month low of $518.55 and a 12-month high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Tuesday, May 5th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.06. IDEXX Laboratories had a net margin of 24.63% and a return on equity of 70.87%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the company posted $2.91 earnings per share. IDEXX Laboratories’s revenue for the quarter 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. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 14.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on IDXX shares. Wall Street Zen lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Citigroup assumed coverage on shares of IDEXX Laboratories in a report on Wednesday, April 15th. They issued a “neutral” rating and a $650.00 target price on the stock. UBS Group dropped their price target on shares of IDEXX Laboratories from $640.00 to $620.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Weiss Ratings downgraded shares of IDEXX Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $749.00.

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.