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

IDEXX Laboratories (NASDAQ:IDXX) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

A number of other equities analysts have also commented on the stock. JPMorgan Chase & Co. increased their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Piper Sandler reiterated a “neutral” rating and issued a $700.00 target price (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. BTIG Research raised their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Morgan Stanley raised their price target on IDEXX Laboratories from $722.00 to $765.00 and gave the company an “overweight” rating in a research report on Friday, August 15th. Finally, Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $649.44.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $630.56 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. The business has a fifty day simple moving average of $627.80 and a two-hundred day simple moving average of $530.50. IDEXX Laboratories has a 1 year low of $356.14 and a 1 year high of $688.12. The company has a market capitalization of $50.45 billion, a P/E ratio of 52.50, a P/E/G ratio of 4.09 and a beta of 1.56.

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

Insider Transactions at IDEXX Laboratories

In related news, CEO Jonathan Jay Mazelsky sold 29,260 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total value of $18,491,734.80. Following the transaction, the chief executive officer directly owned 83,311 shares of the company’s stock, valued at approximately $52,650,885.78. The trade was a 25.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nimrata Hunt sold 7,143 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the completion of the transaction, the executive vice president directly owned 18,007 shares in the company, valued at $11,352,153.01. This trade represents a 28.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,057 shares of company stock worth $34,293,468. 0.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IDEXX Laboratories

Several institutional investors have recently bought and sold shares of IDXX. MorganRosel Wealth Management LLC bought a new stake in IDEXX Laboratories in the first quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in IDEXX Laboratories in the second quarter worth $29,000. WealthCollab LLC bought a new stake in shares of IDEXX Laboratories during the second quarter worth $30,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock valued at $35,000 after purchasing an additional 30 shares during the period. Finally, Ameritas Advisory Services LLC bought a new position in shares of IDEXX Laboratories in the second quarter worth about $36,000. Institutional investors own 87.84% of the company’s stock.

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.