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

Wall Street Zen lowered shares of IDEXX Laboratories (NASDAQ:IDXX) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

A number of other equities analysts have also issued reports on the company. Stifel Nicolaus set a $775.00 price target on IDEXX Laboratories in a research note on Monday, November 3rd. Weiss Ratings upgraded IDEXX Laboratories from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Leerink Partners set a $785.00 target price on IDEXX Laboratories in a research note on Monday, November 3rd. BTIG Research lifted their target price on IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Barclays started coverage on shares of IDEXX Laboratories in a report on Monday, December 8th. They issued an “overweight” rating and a $850.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $763.50.

IDEXX Laboratories Trading Up 0.5%

NASDAQ:IDXX opened at $715.37 on Friday. The stock has a market cap of $57.12 billion, a price-to-earnings ratio of 56.73, a PEG ratio of 3.83 and a beta of 1.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 1.18. IDEXX Laboratories has a 1 year low of $356.14 and a 1 year high of $769.98. The business has a fifty day moving average of $706.72 and a 200-day moving average of $650.20.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data 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. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. IDEXX Laboratories had a net margin of 24.65% and a return on equity of 67.78%. The company’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Equities analysts predict that IDEXX Laboratories will post 11.93 earnings per share for the current year.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $703.34, for a total value 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 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 through this link. 0.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IDEXX Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in IDXX. Empowered Funds LLC raised its position in IDEXX Laboratories by 6.6% during the first quarter. Empowered Funds LLC now owns 1,538 shares of the company’s stock valued at $646,000 after buying an additional 95 shares during the period. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in IDEXX Laboratories during the 2nd quarter worth about $147,000. Sivia Capital Partners LLC acquired a new stake in IDEXX Laboratories during the 2nd quarter worth about $265,000. Baader Bank Aktiengesellschaft purchased a new position in IDEXX Laboratories during the 2nd quarter valued at about $415,000. Finally, Swedbank AB increased its holdings in shares of IDEXX Laboratories by 7.0% in the 2nd quarter. Swedbank AB now owns 35,725 shares of the company’s stock valued at $19,161,000 after purchasing an additional 2,324 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

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.