IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives $656.50 Consensus Target Price from Brokerages

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has been given an average recommendation of “Moderate Buy” by the twelve research firms that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $656.50.

IDXX has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an “overweight” rating in a report on Friday, August 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of IDEXX Laboratories in a report on Saturday. Wall Street Zen lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 28th. JPMorgan Chase & Co. lifted their price objective on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th.

IDEXX Laboratories Price Performance

IDXX opened at $640.85 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The stock has a market capitalization of $51.27 billion, a P/E ratio of 53.36, a P/E/G ratio of 4.15 and a beta of 1.58. The company’s 50-day simple moving average is $638.40 and its two-hundred day simple moving average is $560.29. IDEXX Laboratories has a 52-week low of $356.14 and a 52-week high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. IDEXX Laboratories’s revenue was up 10.6% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, analysts predict that IDEXX Laboratories will post 11.93 EPS for the current year.

Insider Activity at IDEXX Laboratories

In related news, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the transaction, the executive vice president directly owned 7,132 shares in the company, valued at approximately $4,477,041.68. The trade was a 54.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director M Anne Szostak sold 2,187 shares of IDEXX Laboratories stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $647.33, for a total value of $1,415,710.71. Following the transaction, the director owned 262 shares in the company, valued at $169,600.46. This trade represents a 89.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,057 shares of company stock valued at $34,293,468 in the last ninety days. Corporate insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On IDEXX Laboratories

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of IDEXX Laboratories by 1.5% in the first quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company’s stock valued at $4,139,001,000 after acquiring an additional 146,427 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of IDEXX Laboratories by 2.3% in the second quarter. Geode Capital Management LLC now owns 2,464,290 shares of the company’s stock valued at $1,317,875,000 after acquiring an additional 54,402 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of IDEXX Laboratories by 71.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company’s stock worth $835,244,000 after buying an additional 825,965 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of IDEXX Laboratories by 156.2% in the second 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 in the last quarter. Finally, Invesco Ltd. lifted its position in shares of IDEXX Laboratories by 0.5% in the first quarter. Invesco Ltd. now owns 1,166,406 shares of the company’s stock worth $489,832,000 after buying an additional 5,418 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

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.