North Dakota State Investment Board Makes New $2.10 Million Investment in IDEXX Laboratories, Inc. $IDXX

by · The Cerbat Gem

North Dakota State Investment Board bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX – Free Report) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 3,100 shares of the company’s stock, valued at approximately $2,097,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Beacon Investment Advisory Services Inc. increased its holdings in shares of IDEXX Laboratories by 11.9% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 62,951 shares of the company’s stock worth $42,588,000 after purchasing an additional 6,710 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of IDEXX Laboratories by 114.1% in the fourth quarter. Nordea Investment Management AB now owns 16,597 shares of the company’s stock worth $11,283,000 after acquiring an additional 8,845 shares during the period. New York State Common Retirement Fund grew its holdings in shares of IDEXX Laboratories by 6.8% in the third quarter. New York State Common Retirement Fund now owns 60,225 shares of the company’s stock worth $38,477,000 after acquiring an additional 3,820 shares during the period. Mediolanum International Funds Ltd grew its holdings in shares of IDEXX Laboratories by 14.5% in 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 period. Finally, Procyon Advisors LLC bought a new stake in shares of IDEXX Laboratories in the fourth quarter worth $1,966,000. Institutional investors own 87.84% of the company’s stock.

Insider Activity

In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 23,326 shares of the business’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 approximately $54,975,125.30. The trade was a 21.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Nimrata Hunt sold 1,758 shares of the business’s stock in a transaction dated 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 directly owned 18,141 shares of the company’s stock, valued at $11,511,734.37. This represents a 8.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,777 shares of company stock valued at $18,235,113 in the last three months. 0.79% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Stifel Nicolaus cut their price objective on IDEXX Laboratories from $775.00 to $675.00 and set a “buy” rating for the company in a report on Tuesday, March 31st. Wall Street Zen lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. UBS Group cut their price objective on IDEXX Laboratories from $730.00 to $640.00 and set a “neutral” rating for the company in a report on Tuesday, April 28th. BTIG Research cut their price objective on IDEXX Laboratories from $830.00 to $800.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Finally, Weiss Ratings lowered IDEXX Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $751.00.

Read Our Latest Stock Analysis on IDEXX Laboratories

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $545.79 on Tuesday. The stock has a 50-day simple moving average of $570.62 and a two-hundred day simple moving average of $644.92. IDEXX Laboratories, Inc. has a 52-week low of $496.61 and a 52-week high of $769.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 1.12. The firm has a market capitalization of $43.05 billion, a PE ratio of 40.19, a P/E/G ratio of 3.07 and a beta of 1.58.

IDEXX Laboratories (NASDAQ:IDXX – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.06. IDEXX Laboratories had a return on equity of 70.87% and a net margin of 24.63%.The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the company posted $2.91 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 14.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2026 guidance at 14.450-14.900 EPS. Analysts forecast that IDEXX Laboratories, Inc. will post 14.68 EPS for the current year.

About IDEXX Laboratories

(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.

See Also

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