IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives $763.50 Consensus Target Price from Analysts

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has been given a consensus rating of “Moderate Buy” by the eleven brokerages that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $763.50.

Several brokerages recently commented on IDXX. Barclays assumed coverage on shares of IDEXX Laboratories in a research note on Monday, December 8th. They issued an “overweight” rating and a $850.00 price objective for the company. Wall Street Zen raised IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 3rd. Stifel Nicolaus set a $775.00 price target on IDEXX Laboratories in a report on Monday, November 3rd. Morgan Stanley lifted their price objective on IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Finally, UBS Group boosted their target price on IDEXX Laboratories from $710.00 to $750.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th.

IDEXX Laboratories Stock Up 0.1%

IDXX opened at $713.35 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.18 and a quick ratio of 0.87. IDEXX Laboratories has a 12 month low of $356.14 and a 12 month high of $769.98. The stock has a market capitalization of $56.96 billion, a P/E ratio of 56.57, a P/E/G ratio of 3.81 and a beta of 1.67. The business has a 50 day simple moving average of $706.93 and a 200-day simple moving average of $643.06.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.08. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. IDEXX Laboratories had a return on equity of 67.78% and a net margin of 24.65%.IDEXX Laboratories’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.80 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. On average, equities analysts anticipate that IDEXX Laboratories will post 11.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of IDEXX Laboratories stock in a transaction dated Friday, November 7th. The shares were 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 owned 21,149 shares in the company, valued at approximately $14,874,937.66. The trade was a 30.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IDXX. Vanguard Group Inc. raised its holdings in shares of IDEXX Laboratories by 0.9% in the third quarter. Vanguard Group Inc. now owns 9,962,025 shares of the company’s stock worth $6,364,638,000 after acquiring an additional 86,040 shares during the last quarter. Geode Capital Management LLC increased its position in IDEXX Laboratories by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,464,290 shares of the company’s stock worth $1,317,875,000 after purchasing an additional 54,402 shares in the last quarter. Bank of New York Mellon Corp increased its position in IDEXX Laboratories by 41.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,056,680 shares of the company’s stock worth $1,313,992,000 after purchasing an additional 605,290 shares in the last quarter. Invesco Ltd. raised its stake in IDEXX Laboratories by 14.0% in the 3rd quarter. Invesco Ltd. now owns 1,320,263 shares of the company’s stock valued at $843,503,000 after purchasing an additional 161,782 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in IDEXX Laboratories by 16.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,315,722 shares of the company’s stock valued at $840,638,000 after purchasing an additional 187,967 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

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.