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

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been given an average rating of “Moderate Buy” by the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $763.50.

IDXX has been the subject of several research reports. Weiss Ratings upgraded IDEXX Laboratories from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Wall Street Zen cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. Jefferies Financial Group reissued a “buy” rating and issued a $830.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, November 4th. Morgan Stanley boosted their target price on IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Finally, Stifel Nicolaus set a $775.00 price target on IDEXX Laboratories in a report on Monday, November 3rd.

IDEXX Laboratories Stock Down 0.4%

IDXX stock opened at $694.75 on Wednesday. The stock has a market capitalization of $55.48 billion, a P/E ratio of 55.10, a P/E/G ratio of 3.73 and a beta of 1.67. The firm has a 50-day simple moving average of $706.90 and a 200-day simple moving average of $658.58. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.24. IDEXX Laboratories has a 52 week low of $356.14 and a 52 week high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.08. IDEXX Laboratories had a net margin of 24.65% and a return on equity of 67.78%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company posted $2.80 EPS. IDEXX Laboratories’s quarterly 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. Equities analysts forecast that IDEXX Laboratories will post 11.93 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Nimrata Hunt sold 9,425 shares of IDEXX Laboratories stock in a transaction on 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 transaction, the executive vice president owned 21,149 shares in the company, valued at $14,874,937.66. The trade was a 30.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On IDEXX Laboratories

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

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.