IDEXX Laboratories (NASDAQ:IDXX) Rating Increased to Strong-Buy at Wall Street Zen

IDEXX Laboratories (NASDAQ:IDXX) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Sunday.

A number of other research firms have also recently commented on IDXX. BTIG Research upped their target price on IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. UBS Group raised their price target on shares of IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. upped their target price on IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Morgan Stanley lifted their target price on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Finally, Piper Sandler reissued a “neutral” rating and set a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $730.50.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $689.93 on Friday. The firm has a market cap of $55.09 billion, a P/E ratio of 57.45, a PEG ratio of 4.06 and a beta of 1.62. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. IDEXX Laboratories has a twelve month low of $356.14 and a twelve month high of $735.00. The company has a 50 day moving average of $651.74 and a 200 day moving average of $588.77.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, November 3rd. The company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.08. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the business posted $2.80 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. As a group, research analysts expect that IDEXX Laboratories will post 11.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 2,187 shares of IDEXX Laboratories stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $647.33, for a total value of $1,415,710.71. Following the sale, the director directly owned 262 shares in the company, valued at $169,600.46. This trade represents a 89.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nimrata Hunt sold 9,425 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $703.34, for a total transaction of $6,628,979.50. Following the completion of the sale, the executive vice president directly owned 21,149 shares of the company’s stock, valued at $14,874,937.66. The trade was a 30.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.98% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Hedge funds have recently modified their holdings of the business. Mutual of America Capital Management LLC increased its holdings in IDEXX Laboratories by 79.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company’s stock valued at $8,160,000 after purchasing an additional 8,609 shares in the last quarter. Arkadios Wealth Advisors bought a new position in IDEXX Laboratories in the second quarter valued at about $405,000. Plato Investment Management Ltd boosted its stake in shares of IDEXX Laboratories by 37.1% in the 1st quarter. Plato Investment Management Ltd now owns 3,087 shares of the company’s stock valued at $1,310,000 after purchasing an additional 835 shares during the last quarter. Genesis Wealth Advisors LLC acquired a new stake in IDEXX Laboratories during the 2nd quarter worth $215,000. Finally, ORG Wealth Partners LLC bought a new stake in IDEXX Laboratories in the second quarter valued at about $273,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

About IDEXX Laboratories

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.