CIBC Private Wealth Group LLC Lowers Position in IDEXX Laboratories, Inc. $IDXX

CIBC Private Wealth Group LLC lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 370,539 shares of the company’s stock after selling 4,206 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.46% of IDEXX Laboratories worth $236,734,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Empowered Funds LLC raised its position in IDEXX Laboratories by 6.6% in the 1st quarter. Empowered Funds LLC now owns 1,538 shares of the company’s stock valued at $646,000 after buying an additional 95 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in IDEXX Laboratories during the 2nd quarter worth $265,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in IDEXX Laboratories during the 2nd quarter worth $520,000. Foundations Investment Advisors LLC grew its stake in shares of IDEXX Laboratories by 38.9% in the 2nd quarter. Foundations Investment Advisors LLC now owns 914 shares of the company’s stock worth $490,000 after acquiring an additional 256 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of IDEXX Laboratories by 11.7% in the second quarter. Creative Planning now owns 29,068 shares of the company’s stock valued at $15,590,000 after purchasing an additional 3,052 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 1,758 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $634.57, for a total value of $1,115,574.06. Following the sale, the executive vice president owned 18,141 shares of the company’s stock, valued at $11,511,734.37. The trade was a 8.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael G. Erickson sold 5,371 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $627.38, for a total transaction of $3,369,657.98. Following the completion of the sale, the executive vice president directly owned 12,693 shares in the company, valued at approximately $7,963,334.34. This trade represents a 29.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 45,957 shares of company stock valued at $29,862,109. Insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. UBS Group dropped their price target on shares of IDEXX Laboratories from $750.00 to $730.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 3rd. BTIG Research decreased their price objective on shares of IDEXX Laboratories from $830.00 to $800.00 and set a “buy” rating for the company in a research note on Tuesday, February 3rd. Wall Street Zen cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings downgraded IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 29th. Finally, Barclays reduced their target price on IDEXX Laboratories from $850.00 to $800.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $783.33.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $586.98 on Wednesday. The company has a market capitalization of $46.68 billion, a P/E ratio of 44.91, a P/E/G ratio of 3.56 and a beta of 1.66. The business has a fifty day simple moving average of $653.86 and a two-hundred day simple moving average of $666.03. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.23 and a quick ratio of 0.90. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, February 2nd. The company reported $2.92 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.01). IDEXX Laboratories had a net margin of 24.62% and a return on equity of 69.78%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company earned $2.53 EPS. The firm’s quarterly 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. On average, analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current 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.