IDEXX Laboratories (NASDAQ:IDXX) Earns Neutral Rating from Analysts at UBS Group

UBS Group began coverage on shares of IDEXX Laboratories (NASDAQ:IDXX) in a research note issued to investors on Wednesday, Marketbeat reports. The firm issued a neutral rating and a $720.00 target price on the stock.

IDXX has been the topic of a number of other research reports. Leerink Partners raised their price objective on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a report on Monday, August 4th. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a “buy” rating and a $625.00 price objective for the company. JPMorgan Chase & Co. raised their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Finally, Morgan Stanley lifted their price target on IDEXX Laboratories from $722.00 to $765.00 and gave the company an “overweight” rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $656.50.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $631.19 on Wednesday. The company has a 50 day simple moving average of $634.52 and a two-hundred day simple moving average of $534.79. The stock has a market cap of $50.50 billion, a price-to-earnings ratio of 52.56, a PEG ratio of 4.10 and a beta of 1.58. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. IDEXX Laboratories has a 12 month low of $356.14 and a 12 month high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.35. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, analysts predict that IDEXX Laboratories will post 11.93 earnings per share for the current year.

Insider Transactions at IDEXX Laboratories

In other news, EVP Michael Lane sold 8,411 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the completion of the sale, the executive vice president owned 7,132 shares of the company’s stock, valued at $4,477,041.68. This represents a 54.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael G. Erickson sold 406 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total transaction of $263,883.76. Following the completion of the sale, the executive vice president owned 11,287 shares of the company’s stock, valued at $7,336,098.52. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,057 shares of company stock valued at $34,293,468. Insiders own 0.98% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Hedge funds have recently bought and sold shares of the business. MorganRosel Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the 1st quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new position in IDEXX Laboratories during the second quarter worth approximately $29,000. WealthCollab LLC acquired a new position in IDEXX Laboratories during the second quarter worth $30,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in IDEXX Laboratories by 55.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock valued at $35,000 after buying an additional 30 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of IDEXX Laboratories in the 2nd quarter worth $36,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.