Fifth Third Bancorp Buys 1,392 Shares of IDEXX Laboratories, Inc. $IDXX

Fifth Third Bancorp raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 23.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,374 shares of the company’s stock after acquiring an additional 1,392 shares during the period. Fifth Third Bancorp’s holdings in IDEXX Laboratories were worth $4,711,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of IDXX. Blalock Williams LLC bought a new position in IDEXX Laboratories during the 3rd quarter worth $590,000. New York State Common Retirement Fund grew its position in shares of IDEXX Laboratories by 6.8% in the 3rd quarter. New York State Common Retirement Fund now owns 60,225 shares of the company’s stock valued at $38,477,000 after buying an additional 3,820 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at about $405,000. Mediolanum International Funds Ltd raised its position in shares of IDEXX Laboratories by 14.5% during the third quarter. Mediolanum International Funds Ltd now owns 38,761 shares of the company’s stock worth $24,441,000 after acquiring an additional 4,909 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of IDEXX Laboratories by 16.7% in the third quarter. Principal Financial Group Inc. now owns 1,315,722 shares of the company’s stock worth $840,638,000 after acquiring an additional 187,967 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Down 0.5%

IDXX opened at $626.17 on Wednesday. The company has a fifty day moving average price of $681.98 and a two-hundred day moving average price of $669.66. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $769.98. The company has a market cap of $50.00 billion, a P/E ratio of 47.91, a price-to-earnings-growth ratio of 3.83 and a beta of 1.67. 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 issued its 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). 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 during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business earned $2.53 earnings per share. The business’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. Analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Activity

In other IDEXX Laboratories news, EVP George Fennell sold 11,345 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $646.72, for a total transaction of $7,337,038.40. Following the completion of the sale, the executive vice president owned 9,823 shares in the company, valued at approximately $6,352,730.56. The trade was a 53.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. UBS Group decreased their target price 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. Piper Sandler reduced their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Weiss Ratings cut shares of IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 29th. Finally, Barclays decreased their price target 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 investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $783.33.

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.