IDEXX Laboratories (NASDAQ:IDXX) Research Coverage Started at Citigroup

Citigroup initiated coverage on shares of IDEXX Laboratories (NASDAQ:IDXX) in a research report released on Wednesday morning, Marketbeat.com reports. The brokerage issued a hold rating and a $650.00 target price on the stock.

A number of other research analysts also recently issued reports on the company. Wall Street Zen downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $775.00 to $675.00 and set a “buy” rating on the stock in a report on Tuesday, March 31st. Piper Sandler dropped their price target on shares of IDEXX Laboratories from $775.00 to $750.00 and set a “neutral” rating for the company in a research report on Monday, February 9th. BTIG Research reduced their price objective on shares of IDEXX Laboratories from $830.00 to $800.00 and set a “buy” rating for the company in a research note on Tuesday, February 3rd. Finally, Weiss Ratings downgraded shares of IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 29th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $760.00.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock opened at $589.25 on Wednesday. The stock has a market cap of $46.80 billion, a P/E ratio of 45.08, a P/E/G ratio of 3.46 and a beta of 1.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.23. The stock’s fifty day moving average is $601.30 and its 200 day moving average is $654.85. IDEXX Laboratories has a one year low of $402.85 and a one year high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, February 2nd. The company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.15. IDEXX Laboratories had a return on equity of 69.78% and a net margin of 24.62%.The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company posted $2.53 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 14.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2026 guidance at 14.290-14.800 EPS. Sell-side analysts anticipate that IDEXX Laboratories will post 11.93 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jonathan Jay Mazelsky sold 23,326 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $657.55, for a total transaction of $15,338,011.30. Following the completion of the transaction, the chief executive officer directly owned 83,606 shares of the company’s stock, valued at approximately $54,975,125.30. This represents a 21.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael G. Erickson sold 5,371 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $627.38, for a total value of $3,369,657.98. Following the transaction, the executive vice president owned 12,693 shares of the company’s stock, valued at $7,963,334.34. This represents a 29.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 45,957 shares of company stock valued at $29,862,109 in the last ninety days. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

Several large investors have recently bought and sold shares of IDXX. SHP Wealth Management purchased a new position in shares of IDEXX Laboratories in the 4th quarter worth $26,000. Virtus Advisers LLC purchased a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at about $26,000. Park Place Capital Corp purchased a new stake in shares of IDEXX Laboratories during the 4th quarter valued at about $29,000. WealthCollab LLC bought a new position in shares of IDEXX Laboratories in the 2nd quarter valued at about $30,000. Finally, J.Safra Asset Management Corp purchased a new position in IDEXX Laboratories in the third quarter worth about $31,000. 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.