Fundsmith 13F: Cuts IDEXX Laboratories (IDXX) Stake by $216M

Fundsmith Trims Exposure to IDEXX Laboratories, Inc.

Fundsmith scaled back its investment in IDEXX Laboratories, Inc. (NasdaqGS: IDXX) during the period, cutting its stake by 21.8%. The fund dropped 410,249 shares from its portfolio, leaving it with a total holding of 1,465,786 shares. Based on market prices around the filing date, that remaining block carried a value of approximately $771.6 million. Because 13F filings look backward at positions held at the close of the quarter, this disclosure reflects portfolio moves from that specific window and may not represent the investor's current layout.

Stock Valuation and Price Range

The shares have recently changed hands near $526.44, sitting well below their 52-week peak of $769.98 while holding above the 52-week floor of $500.61. The company trades with a price-to-earnings ratio of 36.2 and a forward P/E of 30.8. Its shares have also spent time below both the 50-day moving average of $549.98 and the 200-day moving average of $596.35.

Wall Street Ratings and Price Targets

Wall Street firms recently updated their views on the stock, starting with JP Morgan maintaining an overweight rating on October 16, 2026, while adjusting its price target from $775.00 to $750.00. Keybanc initiated coverage on October 12, 2026, with a sector weight rating. Earlier in August, Barclays maintained an overweight rating on August 11, 2026, while moving its target to $710.00 from $800.00. UBS kept a neutral rating on August 5, 2026, raising its target to $670.00, and Citigroup maintained a neutral rating that same day with a $670.00 target. UBS also issued a neutral rating on July 27, 2026, with a $620.00 target. Overall, the stock holds a consensus buy rating with a mean price target of $698.92.

Inside IDEXX Laboratories, Inc.

Headquartered in Westbrook, Maine, IDEXX Laboratories builds diagnostic and information technology solutions for veterinary practices, livestock producers, and water testing facilities. The firm provides point-of-care instruments, rapid assay test kits, and reference laboratory consulting services that help doctors care for pets and farm animals. Its product suite also covers coliform and E. coli detection tools for clean water analysis alongside specialized veterinary practice management software.

What to Watch at IDEXX Laboratories, Inc.

Investors tracking Fundsmith will look to future SEC filings to see if the fund continues trimming diagnostics and health tech names or stabilizes its position. The company is scheduled to report its next round of earnings on November 2, 2026. Remember that quarterly 13F reports offer a retrospective look at institutional ownership rather than real-time trading data.