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

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has received an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $763.50.

A number of research firms have recently weighed in on IDXX. Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a report on Monday, November 3rd. JPMorgan Chase & Co. increased their target price on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Weiss Ratings raised shares of IDEXX Laboratories from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Barclays assumed coverage on IDEXX Laboratories in a research report on Monday, December 8th. They set an “overweight” rating and a $850.00 price target on the stock. Finally, UBS Group raised their price objective on IDEXX Laboratories from $710.00 to $750.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $694.75 on Wednesday. The firm’s 50 day simple moving average is $706.90 and its 200-day simple moving average is $658.58. 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 has a one year low of $356.14 and a one year high of $769.98. The firm has a market cap of $55.48 billion, a PE ratio of 55.10, a price-to-earnings-growth ratio of 3.73 and a beta of 1.67.

IDEXX Laboratories (NASDAQ:IDXX) last posted 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. IDEXX Laboratories had a return on equity of 67.78% and a net margin of 24.65%.The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company earned $2.80 EPS. The business’s 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. As a group, equities analysts predict that IDEXX Laboratories will post 11.93 EPS for the current year.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of the business’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 sale, the executive vice president owned 21,149 shares in the company, valued at approximately $14,874,937.66. The trade was a 30.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.98% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC increased its stake in shares of IDEXX Laboratories by 6.6% in the 1st quarter. Empowered Funds LLC now owns 1,538 shares of the company’s stock valued at $646,000 after purchasing an additional 95 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of IDEXX Laboratories during the 2nd quarter worth approximately $265,000. TD Private Client Wealth LLC raised its stake in shares of IDEXX Laboratories by 57.3% during the 2nd quarter. TD Private Client Wealth LLC now owns 225 shares of the company’s stock worth $121,000 after buying an additional 82 shares during the period. GC Wealth Management RIA LLC purchased a new position in shares of IDEXX Laboratories during the 2nd quarter valued at approximately $517,000. Finally, Bennett Selby Investments LP grew its stake in IDEXX Laboratories by 14.2% in the 2nd quarter. Bennett Selby Investments LP now owns 876 shares of the company’s stock valued at $470,000 after acquiring an additional 109 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

About IDEXX Laboratories

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.