Procyon Advisors LLC Buys Shares of 2,905 IDEXX Laboratories, Inc. $IDXX

Procyon Advisors LLC bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,905 shares of the company’s stock, valued at approximately $1,966,000.

A number of other hedge funds have also recently made changes to their positions in IDXX. Bank of New York Mellon Corp increased its position 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 valued at $1,313,992,000 after buying an additional 605,290 shares in the last quarter. Norges Bank purchased a new position in IDEXX Laboratories during the second quarter valued at $221,955,000. JPMorgan Chase & Co. boosted its holdings 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 acquiring an additional 326,348 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of IDEXX Laboratories by 295.1% in the second quarter. Schroder Investment Management Group now owns 315,785 shares of the company’s stock worth $169,368,000 after acquiring an additional 235,863 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of IDEXX Laboratories in the third quarter worth $143,730,000. 87.84% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Nimrata Hunt sold 2,693 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $661.54, for a total transaction of $1,781,527.22. Following the transaction, the executive vice president directly owned 19,899 shares of the company’s stock, valued at $13,163,984.46. This represents a 11.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael G. Erickson sold 5,371 shares of IDEXX Laboratories stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $627.38, for a total value of $3,369,657.98. Following the completion of the sale, the executive vice president directly owned 12,693 shares of the company’s stock, valued at $7,963,334.34. The trade was a 29.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 45,957 shares of company stock worth $29,862,109. Insiders own 0.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BTIG Research lowered their price target on IDEXX Laboratories from $830.00 to $800.00 and set a “buy” rating for the company in a research report on Tuesday, February 3rd. Barclays cut their price objective on shares of IDEXX Laboratories from $850.00 to $800.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Weiss Ratings lowered shares of IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 29th. Wall Street Zen downgraded shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Finally, Piper Sandler cut their price target on shares of IDEXX Laboratories from $775.00 to $750.00 and set a “neutral” rating on the stock in a report on Monday, February 9th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $783.33.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $577.26 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.23 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average price of $645.73 and a 200-day moving average price of $664.71. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $769.98. The firm has a market capitalization of $45.90 billion, a PE ratio of 44.17, a P/E/G ratio of 3.50 and a beta of 1.66.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Monday, February 2nd. The company reported $2.92 earnings per share 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 company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company earned $2.53 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2026 guidance at 14.290-14.800 EPS. As a group, equities research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

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.