IDEXX Laboratories (NASDAQ:IDXX) Upgraded by Citigroup to Hold Rating

Citigroup upgraded shares of IDEXX Laboratories (NASDAQ:IDXX) to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. UBS Group decreased their price target on shares of IDEXX Laboratories from $750.00 to $730.00 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. Wall Street Zen cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. BTIG Research decreased their price target 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. Weiss Ratings cut shares of IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 29th. Finally, Piper Sandler decreased 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 note on Monday, February 9th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $760.00.

IDEXX Laboratories Trading Up 2.7%

Shares of IDEXX Laboratories stock opened at $585.24 on Wednesday. The stock has a market cap of $46.49 billion, a price-to-earnings ratio of 44.70, a PEG ratio of 3.53 and a beta of 1.72. The company has a fifty day simple moving average of $602.41 and a 200-day simple moving average of $655.14. The company has a current ratio of 1.23, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. IDEXX Laboratories has a 12-month low of $402.85 and a 12-month high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, February 2nd. The company reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.15. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. IDEXX Laboratories had a net margin of 24.62% and a return on equity of 69.78%. IDEXX Laboratories’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.53 EPS. IDEXX Laboratories has set its FY 2026 guidance at 14.290-14.800 EPS. On average, equities analysts forecast that IDEXX Laboratories will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Michael G. Erickson sold 5,371 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president owned 12,693 shares in the company, valued at approximately $7,963,334.34. This trade represents a 29.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP George Fennell sold 11,345 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $646.72, for a total transaction of $7,337,038.40. Following the completion of the sale, the executive vice president owned 9,823 shares of the company’s stock, valued at $6,352,730.56. This trade represents a 53.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 45,957 shares of company stock worth $29,862,109. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IDEXX Laboratories

A number of large investors have recently made changes to their positions in IDXX. Empowered Funds LLC increased its holdings in shares of 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 in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of IDEXX Laboratories in the 2nd quarter valued at about $265,000. Jump Financial LLC increased its holdings in shares of IDEXX Laboratories by 1,006.4% in the 2nd quarter. Jump Financial LLC now owns 5,532 shares of the company’s stock valued at $2,967,000 after purchasing an additional 5,032 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of IDEXX Laboratories in the 2nd quarter valued at about $164,000. Finally, Sei Investments Co. increased its holdings in shares of IDEXX Laboratories by 218.7% in the 2nd quarter. Sei Investments Co. now owns 120,587 shares of the company’s stock valued at $64,678,000 after purchasing an additional 82,755 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

About IDEXX Laboratories

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.