Wall Street Zen Downgrades IDEXX Laboratories (NASDAQ:IDXX) to Buy

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

IDXX has been the topic of a number of other research reports. Leerink Partners set a $785.00 price objective on shares of IDEXX Laboratories in a report on Monday, November 3rd. Weiss Ratings cut IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 29th. Barclays dropped their price objective on IDEXX Laboratories from $850.00 to $800.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. JPMorgan Chase & Co. boosted their target price on IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Finally, Stifel Nicolaus set a $775.00 target price on IDEXX Laboratories in a report on Monday, November 3rd. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $783.33.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $656.73 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average is $672.95 and its two-hundred day moving average is $668.97. IDEXX Laboratories has a twelve month low of $356.14 and a twelve month high of $769.98. The firm has a market capitalization of $52.29 billion, a PE ratio of 50.25, a P/E/G ratio of 4.01 and a beta of 1.67.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, February 2nd. The company reported $2.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.01). The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. IDEXX Laboratories had a return on equity of 69.78% and a net margin of 24.62%.The company’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.53 EPS. IDEXX Laboratories has set its FY 2026 guidance at 14.290-14.800 EPS. Research analysts anticipate that IDEXX Laboratories will post 11.93 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP George Fennell sold 11,345 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $646.72, for a total transaction of $7,337,038.40. Following the sale, the executive vice president owned 9,823 shares of the company’s stock, valued at $6,352,730.56. This trade represents a 53.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sophie V. Vandebroek sold 1,464 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $628.62, for a total transaction of $920,299.68. Following the completion of the transaction, the director directly owned 648 shares of the company’s stock, valued at $407,345.76. The trade was a 69.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,873 shares of company stock worth $13,408,523 in the last ninety days. 0.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IDEXX Laboratories

Several institutional investors and hedge funds have recently modified their holdings of the company. Elyxium Wealth LLC purchased a new position in shares of IDEXX Laboratories during the 4th quarter worth $3,666,459,000. J. Stern & Co. LLP lifted its position in IDEXX Laboratories by 23,694.7% during the fourth quarter. J. Stern & Co. LLP now owns 2,653,351 shares of the company’s stock worth $1,795,072,000 after buying an additional 2,642,200 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in IDEXX Laboratories by 63,503.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,444,445 shares of the company’s stock worth $977,210,000 after buying an additional 1,442,174 shares during the period. Bank of New York Mellon Corp boosted its stake in IDEXX Laboratories by 156.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,451,390 shares of the company’s stock worth $778,439,000 after buying an additional 884,808 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in IDEXX Laboratories by 318.1% in the 4th quarter. Wellington Management Group LLP now owns 779,214 shares of the company’s stock valued at $527,162,000 after buying an additional 592,834 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

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.