IDEXX Laboratories (NASDAQ:IDXX) Rating Lowered to Buy at Wall Street Zen

IDEXX Laboratories (NASDAQ:IDXX) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other analysts have also issued reports on IDXX. Leerink Partners set a $785.00 price objective on shares of IDEXX Laboratories in a research note on Monday, November 3rd. UBS Group raised their target price on IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Weiss Ratings raised IDEXX Laboratories from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. 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. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $830.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, November 4th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average price target of $763.50.

IDEXX Laboratories Trading Up 0.5%

NASDAQ:IDXX opened at $715.37 on Friday. The business’s 50-day moving average is $706.72 and its two-hundred day moving average is $649.45. The firm has a market capitalization of $57.12 billion, a PE ratio of 56.73, a price-to-earnings-growth ratio of 3.81 and a beta of 1.67. IDEXX Laboratories has a 12 month low of $356.14 and a 12 month high of $769.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.18 and a quick ratio of 0.87.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Monday, November 3rd. The company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.08. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. IDEXX Laboratories had a return on equity of 67.78% and a net margin of 24.65%.The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Research analysts predict that IDEXX Laboratories will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 9,425 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president owned 21,149 shares of the company’s stock, valued at $14,874,937.66. This represents a 30.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.98% of the stock is currently owned by corporate insiders.

Institutional Trading of IDEXX Laboratories

A number of institutional investors and hedge funds have recently made changes to their positions in IDXX. Virtus Advisers LLC bought a new position in IDEXX Laboratories during the 3rd quarter worth $26,000. Opal Wealth Advisors LLC acquired a new position in shares of IDEXX Laboratories during the second quarter valued at $29,000. Park Place Capital Corp acquired a new position in shares of IDEXX Laboratories during the fourth quarter valued at $29,000. WealthCollab LLC bought a new position in shares of IDEXX Laboratories during the second quarter worth about $30,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of IDEXX Laboratories in the 3rd quarter worth about $31,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Company 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.