Harvest Fund Management Co. Ltd Raises Stake in IDEXX Laboratories, Inc. $IDXX

Harvest Fund Management Co. Ltd increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 26.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,815 shares of the company’s stock after acquiring an additional 1,653 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in IDEXX Laboratories were worth $4,990,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in IDXX. Vanguard Group Inc. raised its stake in shares of IDEXX Laboratories by 0.9% during the third quarter. Vanguard Group Inc. now owns 9,962,025 shares of the company’s stock valued at $6,364,638,000 after acquiring an additional 86,040 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in IDEXX Laboratories by 41.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,056,680 shares of the company’s stock worth $1,313,992,000 after purchasing an additional 605,290 shares during the period. Invesco Ltd. increased its stake in shares of IDEXX Laboratories by 14.0% during the third quarter. Invesco Ltd. now owns 1,320,263 shares of the company’s stock valued at $843,503,000 after buying an additional 161,782 shares during the period. Principal Financial Group Inc. increased its position in IDEXX Laboratories by 16.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,315,722 shares of the company’s stock valued at $840,638,000 after purchasing an additional 187,967 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in IDEXX Laboratories by 60.0% in the third quarter. JPMorgan Chase & Co. now owns 869,930 shares of the company’s stock worth $555,802,000 after buying an additional 326,348 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Trading Up 0.5%

IDXX stock opened at $573.82 on Friday. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $769.98. The stock has a market cap of $45.69 billion, a price-to-earnings ratio of 43.90, a PEG ratio of 3.47 and a beta of 1.66. The business’s 50-day moving average is $658.17 and its 200 day moving average is $666.52. The company has a current ratio of 1.23, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, February 2nd. The company reported $2.92 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.01). The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. IDEXX Laboratories had a net margin of 24.62% and a return on equity of 69.78%. IDEXX Laboratories’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.53 EPS. IDEXX Laboratories has set its FY 2026 guidance at 14.290-14.800 EPS. On average, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 1,758 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $634.57, for a total transaction of $1,115,574.06. Following the completion of the sale, the executive vice president directly owned 18,141 shares of the company’s stock, valued at $11,511,734.37. This represents a 8.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Jay Mazelsky sold 23,326 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $657.55, for a total transaction of $15,338,011.30. Following the completion of the sale, the chief executive officer owned 83,606 shares of the company’s stock, valued at approximately $54,975,125.30. The trade was a 21.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 45,957 shares of company stock valued at $29,862,109 in the last quarter. Company insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on IDXX shares. UBS Group dropped their target price on IDEXX Laboratories from $750.00 to $730.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 3rd. Weiss Ratings downgraded IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 29th. Piper Sandler cut their target price on IDEXX Laboratories from $775.00 to $750.00 and set a “neutral” rating on the stock in a research note on Monday, February 9th. Barclays reduced their target price on shares of IDEXX Laboratories from $850.00 to $800.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Finally, Wall Street Zen lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $783.33.

IDEXX Laboratories Company Profile

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.