Grantham Mayo Van Otterloo & Co. LLC Invests $949,000 in IDEXX Laboratories, Inc. $IDXX

by · The Markets Daily

Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,485 shares of the company’s stock, valued at approximately $949,000.

A number of other hedge funds have also recently bought and sold shares of IDXX. Bank of New York Mellon Corp lifted its holdings in IDEXX Laboratories by 41.7% in 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 acquiring an additional 605,290 shares during the last quarter. Norges Bank bought a new stake in shares of IDEXX Laboratories in the 2nd quarter worth approximately $221,955,000. JPMorgan Chase & Co. raised its holdings in shares of IDEXX Laboratories by 60.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 869,930 shares of the company’s stock worth $555,802,000 after purchasing an additional 326,348 shares in the last quarter. Schroder Investment Management Group lifted its stake in IDEXX Laboratories by 295.1% during the second quarter. Schroder Investment Management Group now owns 315,785 shares of the company’s stock valued at $169,368,000 after purchasing an additional 235,863 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in IDEXX Laboratories by 16.7% during the third 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 last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on IDXX shares. 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. Barclays cut their price objective on IDEXX Laboratories from $850.00 to $800.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. BTIG Research decreased their target price on IDEXX Laboratories from $830.00 to $800.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Weiss Ratings lowered IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 29th. Finally, UBS Group reduced their target price on IDEXX Laboratories from $750.00 to $730.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $783.33.

View Our Latest Analysis on IDXX

Insiders Place Their Bets

In related news, Director Sophie V. Vandebroek sold 1,464 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $628.62, for a total transaction of $920,299.68. Following the transaction, the director directly owned 648 shares of the company’s stock, valued at approximately $407,345.76. The trade was a 69.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael G. Erickson sold 5,371 shares of the stock in a transaction dated 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 approximately $7,963,334.34. This represents a 29.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,957 shares of company stock valued at $29,862,109 over the last quarter. 0.98% of the stock is owned by insiders.

IDEXX Laboratories Stock Up 0.3%

IDXX stock opened at $600.52 on Thursday. 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 firm has a market capitalization of $47.81 billion, a P/E ratio of 45.95, a P/E/G ratio of 3.64 and a beta of 1.66. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $769.98. The company’s 50 day simple moving average is $662.20 and its 200-day simple moving average is $667.66.

IDEXX Laboratories (NASDAQ:IDXX – Get Free Report) last posted its quarterly earnings data 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 return on equity of 69.78% and a net margin of 24.62%.The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $2.53 EPS. The company’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 anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

IDEXX Laboratories Profile

(Free Report)

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.

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