IDEXX Laboratories, Inc. (NASDAQ:IDXX) Given Consensus Rating of “Moderate Buy” by Brokerages

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has earned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $763.50.

Several brokerages have recently commented on IDXX. Wall Street Zen lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 29th. Piper Sandler reiterated a “neutral” rating and issued a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Leerink Partners set a $785.00 price target on IDEXX Laboratories in a report on Monday, November 3rd. Jefferies Financial Group restated a “buy” rating and set a $830.00 price target on shares of IDEXX Laboratories in a research note on Tuesday, November 4th. Finally, UBS Group upped their price objective 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.

Insider Activity at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 9,425 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $703.34, for a total transaction of $6,628,979.50. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.98% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Several large investors have recently added to or reduced their stakes in the company. Citigroup Inc. boosted its position in IDEXX Laboratories by 29.5% in the first quarter. Citigroup Inc. now owns 132,236 shares of the company’s stock valued at $55,533,000 after buying an additional 30,122 shares during the last quarter. Townsquare Capital LLC lifted its stake in IDEXX Laboratories by 23.3% during the 1st quarter. Townsquare Capital LLC now owns 6,756 shares of the company’s stock valued at $2,837,000 after acquiring an additional 1,278 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of IDEXX Laboratories in the 1st quarter valued at $55,000. Frank Rimerman Advisors LLC boosted its holdings in shares of IDEXX Laboratories by 45.6% in the 1st quarter. Frank Rimerman Advisors LLC now owns 750 shares of the company’s stock valued at $315,000 after acquiring an additional 235 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its stake in shares of IDEXX Laboratories by 13.2% in the first quarter. Benjamin Edwards Inc. now owns 3,776 shares of the company’s stock worth $1,586,000 after acquiring an additional 439 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $706.65 on Tuesday. The company has a market capitalization of $56.43 billion, a PE ratio of 56.04, a P/E/G ratio of 4.26 and a beta of 1.67. The company has a 50-day simple moving average of $677.46 and a two-hundred day simple moving average of $615.21. IDEXX Laboratories has a one year low of $356.14 and a one year high of $769.98. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 1.18.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data 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. IDEXX Laboratories had a net margin of 24.65% and a return on equity of 67.78%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the firm earned $2.80 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Research analysts expect that IDEXX Laboratories will post 11.93 EPS for the current fiscal year.

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.