IDEXX Laboratories (NASDAQ:IDXX) Lowered to “Buy” Rating by Wall Street Zen

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

IDXX has been the topic of a number of other reports. BTIG Research lifted their price objective on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Morgan Stanley boosted their price target on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the stock 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 research note on Monday. Jefferies Financial Group reiterated a “buy” rating and issued a $830.00 price objective on shares of IDEXX Laboratories in a report on Tuesday, November 4th. Finally, Barclays assumed coverage on IDEXX Laboratories in a report on Monday, December 8th. They set an “overweight” rating and a $850.00 target price on the stock. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $763.50.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $715.37 on Friday. IDEXX Laboratories has a 12-month low of $356.14 and a 12-month high of $769.98. The company has a market cap of $57.12 billion, a PE ratio of 56.73, a P/E/G ratio of 3.81 and a beta of 1.67. The stock has a 50 day simple moving average of $706.72 and a 200-day simple moving average of $649.45. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24.

IDEXX Laboratories (NASDAQ:IDXX) last announced its 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 firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the business earned $2.80 EPS. The firm’s revenue for the quarter 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 research analysts forecast that IDEXX Laboratories will post 11.93 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction that occurred on 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 directly owned 21,149 shares in the company, 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 filing with the SEC, which is available at the SEC website. Insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of IDXX. EverSource Wealth Advisors LLC grew its holdings in shares of IDEXX Laboratories by 2.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 621 shares of the company’s stock worth $397,000 after acquiring an additional 15 shares during the last quarter. STF Management LP boosted its position in shares of IDEXX Laboratories by 1.3% in the 2nd quarter. STF Management LP now owns 1,240 shares of the company’s stock valued at $665,000 after purchasing an additional 16 shares during the period. Clearstead Trust LLC increased its stake in IDEXX Laboratories by 1.1% in the 2nd quarter. Clearstead Trust LLC now owns 1,515 shares of the company’s stock worth $813,000 after purchasing an additional 16 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in IDEXX Laboratories by 4.4% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 380 shares of the company’s stock worth $243,000 after buying an additional 16 shares during the period. Finally, Moss Adams Wealth Advisors LLC lifted its stake in IDEXX Laboratories by 3.3% during the third quarter. Moss Adams Wealth Advisors LLC now owns 528 shares of the company’s stock valued at $337,000 after buying an additional 17 shares in the last quarter. Institutional investors and hedge funds 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.