Royal Bank of Canada Decreases Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Royal Bank of Canada cut its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 391,704 shares of the company’s stock after selling 6,619 shares during the period. Royal Bank of Canada’s holdings in IDEXX Laboratories were worth $220,095,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Elyxium Wealth LLC purchased a new position in IDEXX Laboratories during the fourth quarter valued at $3,666,459,000. J. Stern & Co. LLP raised its stake in shares of IDEXX Laboratories by 23,694.7% in the fourth quarter. J. Stern & Co. LLP now owns 2,653,351 shares of the company’s stock worth $1,795,072,000 after buying an additional 2,642,200 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of IDEXX Laboratories by 63,503.9% during 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 in the last quarter. Wellington Management Group LLP lifted its position in shares of IDEXX Laboratories by 318.1% during 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 in the last quarter. Finally, Norges Bank bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at approximately $332,265,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 0.0%

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

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $3.47 earnings per share for the quarter, topping 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 the consensus estimate of $1.12 billion. During the same period in the prior year, the company posted $2.91 EPS. The firm’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. Research analysts expect that IDEXX Laboratories, Inc. will post 14.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on IDXX shares. Wall Street Zen cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Citigroup began coverage on shares of IDEXX Laboratories in a research report on Wednesday, April 15th. They issued a “neutral” rating and a $650.00 price target for the company. Weiss Ratings cut shares of IDEXX Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Finally, UBS Group lowered their target price on shares of IDEXX Laboratories from $640.00 to $620.00 and set a “neutral” rating on the stock in a research note on Monday. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently 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.