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

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 Ratings reports. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $763.50.

IDXX has been the subject of several recent research reports. Stifel Nicolaus set a $775.00 target price on shares of IDEXX Laboratories in a report on Monday, November 3rd. Wall Street Zen lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $830.00 price objective on shares of IDEXX Laboratories in a report on Tuesday, November 4th. Barclays started coverage on shares of IDEXX Laboratories in a research report on Monday. They issued an “overweight” rating and a $850.00 price objective for the company. Finally, Piper Sandler restated a “neutral” rating and set a $700.00 target price (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th.

Insider Buying and Selling

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $703.34, for a total value of $6,628,979.50. Following the sale, the executive vice president directly owned 21,149 shares of the company’s stock, valued at approximately $14,874,937.66. This trade represents a 30.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in IDXX. Virtus Advisers LLC acquired a new stake in IDEXX Laboratories in the 3rd quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new position in shares of IDEXX Laboratories in the second quarter valued at approximately $29,000. WealthCollab LLC purchased a new position in shares of IDEXX Laboratories in the second quarter valued at approximately $30,000. J.Safra Asset Management Corp acquired a new stake in shares of IDEXX Laboratories in the third quarter worth approximately $31,000. Finally, Armstrong Advisory Group Inc. increased its position in shares of IDEXX Laboratories by 55.9% during the third quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock worth $34,000 after purchasing an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $706.65 on Tuesday. IDEXX Laboratories has a 52-week low of $356.14 and a 52-week high of $769.98. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.24. The stock has a market cap of $56.43 billion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 4.26 and a beta of 1.67. The business has a 50-day simple moving average of $677.46 and a 200-day simple moving average of $615.21.

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