IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives $730.50 Consensus Target Price from Analysts

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has earned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $730.50.

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a research note on Monday, November 3rd. BTIG Research increased their price objective on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Piper Sandler reissued a “neutral” rating and set a $700.00 target price (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Finally, Wall Street Zen upgraded IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Sunday.

Insider Transactions at IDEXX Laboratories

In other news, Director M Anne Szostak sold 2,187 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the completion of the transaction, the director owned 262 shares in the company, valued at approximately $169,600.46. This trade represents a 89.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nimrata Hunt sold 9,425 shares of IDEXX Laboratories stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 21,149 shares in the company, valued at $14,874,937.66. This represents a 30.83% decrease in their position. The SEC filing for this sale provides additional information. 0.98% of the stock is owned by insiders.

Institutional Trading of IDEXX Laboratories

Large investors have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC grew its holdings in IDEXX Laboratories by 79.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company’s stock worth $8,160,000 after acquiring an additional 8,609 shares during the period. Arkadios Wealth Advisors bought a new position in shares of IDEXX Laboratories in the 2nd quarter worth $405,000. Plato Investment Management Ltd grew its stake in shares of IDEXX Laboratories by 37.1% during the first quarter. Plato Investment Management Ltd now owns 3,087 shares of the company’s stock worth $1,310,000 after purchasing an additional 835 shares during the period. Genesis Wealth Advisors LLC acquired a new stake in shares of IDEXX Laboratories during the second quarter worth $215,000. Finally, ORG Wealth Partners LLC bought a new stake in IDEXX Laboratories in the second quarter valued at about $273,000. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Performance

IDXX opened at $670.21 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $652.36 and its 200-day moving average is $592.66. The stock has a market cap of $53.52 billion, a PE ratio of 55.80, a price-to-earnings-growth ratio of 4.06 and a beta of 1.62. IDEXX Laboratories has a twelve month low of $356.14 and a twelve month high of $735.00.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Monday, November 3rd. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $3.14 by $0.08. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm earned $2.80 EPS. The firm’s 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. On average, analysts predict that IDEXX Laboratories will post 11.93 earnings per share for the current year.

About IDEXX Laboratories

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.