Fundsmith LLP Trims Position in IDEXX Laboratories, Inc. $IDXX

Fundsmith LLP lessened its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.1% in the 3rd quarter, Holdings Channel reports. The firm owned 2,610,457 shares of the company’s stock after selling 28,832 shares during the period. IDEXX Laboratories makes up 8.4% of Fundsmith LLP’s investment portfolio, making the stock its 2nd largest holding. Fundsmith LLP’s holdings in IDEXX Laboratories were worth $1,667,795,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. NorthRock Partners LLC lifted its position in shares of IDEXX Laboratories by 10.4% in the third quarter. NorthRock Partners LLC now owns 2,104 shares of the company’s stock worth $1,344,000 after buying an additional 198 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in IDEXX Laboratories by 26.8% during the third quarter. Harvest Fund Management Co. Ltd now owns 7,815 shares of the company’s stock valued at $4,990,000 after buying an additional 1,653 shares during the last quarter. Comerica Bank grew its holdings in IDEXX Laboratories by 42.0% during the 3rd quarter. Comerica Bank now owns 27,132 shares of the company’s stock valued at $17,335,000 after buying an additional 8,028 shares in the last quarter. Main Street Research LLC purchased a new position in IDEXX Laboratories during the 3rd quarter valued at approximately $263,000. Finally, Newbridge Financial Services Group Inc. increased its stake in IDEXX Laboratories by 1,315.4% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 184 shares of the company’s stock worth $118,000 after acquiring an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $573.82 on Friday. The firm has a market capitalization 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 company has a debt-to-equity ratio of 0.23, a current ratio of 1.23 and a quick ratio of 0.90. The business has a 50 day simple moving average of $658.17 and a 200-day simple moving average of $666.52. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Monday, February 2nd. The company reported $2.92 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.01). IDEXX Laboratories had a net margin of 24.62% and a return on equity of 69.78%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm posted $2.53 EPS. The business’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 14.290-14.800 EPS. Equities analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analyst Upgrades and Downgrades

IDXX has been the topic of several recent research reports. Weiss Ratings cut IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 29th. Barclays cut 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. Piper Sandler decreased their price target on shares of IDEXX Laboratories from $775.00 to $750.00 and set a “neutral” rating on the stock in a research note on Monday, February 9th. BTIG Research lowered 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 report on Tuesday, February 3rd. Finally, UBS Group lowered their price objective on shares of IDEXX Laboratories from $750.00 to $730.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $783.33.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP George Fennell sold 11,345 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $646.72, for a total value of $7,337,038.40. Following the sale, the executive vice president owned 9,823 shares of the company’s stock, valued at approximately $6,352,730.56. This represents a 53.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jonathan Jay Mazelsky sold 23,326 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was 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 $54,975,125.30. This trade represents a 21.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 45,957 shares of company stock valued at $29,862,109. Insiders own 0.98% of the company’s stock.

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.