Weitz Investment Management Inc. Cuts Holdings in IDEXX Laboratories, Inc. $IDXX

Weitz Investment Management Inc. trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 37.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,300 shares of the company’s stock after selling 21,500 shares during the quarter. IDEXX Laboratories makes up approximately 1.4% of Weitz Investment Management Inc.’s investment portfolio, making the stock its 26th biggest holding. Weitz Investment Management Inc.’s holdings in IDEXX Laboratories were worth $23,882,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC grew its holdings in IDEXX Laboratories by 6.6% in the first quarter. Empowered Funds LLC now owns 1,538 shares of the company’s stock worth $646,000 after purchasing an additional 95 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in IDEXX Laboratories in the second quarter worth $265,000. Jump Financial LLC grew its holdings in IDEXX Laboratories by 1,006.4% in the second quarter. Jump Financial LLC now owns 5,532 shares of the company’s stock worth $2,967,000 after purchasing an additional 5,032 shares during the last quarter. Cary Street Partners Financial LLC purchased a new position in IDEXX Laboratories in the second quarter worth $164,000. Finally, Sei Investments Co. grew its holdings in IDEXX Laboratories by 218.7% in the second quarter. Sei Investments Co. now owns 120,587 shares of the company’s stock worth $64,678,000 after purchasing an additional 82,755 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Citigroup assumed coverage on shares of IDEXX Laboratories in a research note on Wednesday, April 15th. They set a “neutral” rating and a $650.00 price objective for the company. UBS Group lowered their price objective on shares of IDEXX Laboratories from $730.00 to $640.00 and set a “neutral” rating for the company in a research note on Tuesday, April 28th. Weiss Ratings downgraded shares of IDEXX Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Stifel Nicolaus lowered their price objective on shares of IDEXX Laboratories from $775.00 to $675.00 and set a “buy” rating for the company in a research note on Tuesday, March 31st. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $751.00.

IDEXX Laboratories Trading Up 0.2%

NASDAQ:IDXX opened at $557.91 on Friday. IDEXX Laboratories, Inc. has a 12 month low of $506.91 and a 12 month high of $769.98. The firm has a fifty day simple moving average of $563.14 and a 200-day simple moving average of $628.16. The company has a current ratio of 1.12, a quick ratio of 0.82 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $44.01 billion, a P/E ratio of 41.08, a PEG ratio of 3.05 and a beta of 1.55.

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

IDEXX Laboratories 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.