IDEXX Laboratories (NASDAQ:IDXX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of IDEXX Laboratories (NASDAQ:IDXX) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

A number of other equities research analysts have also recently issued reports on the stock. UBS Group cut their price objective 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. Barclays cut their price target on shares of IDEXX Laboratories from $850.00 to $800.00 and set an “overweight” rating for the company in a research report on Thursday. Morgan Stanley raised their price objective on IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Leerink Partners set a $785.00 target price on IDEXX Laboratories in a research note on Monday, November 3rd. Finally, BTIG Research dropped their target price on IDEXX Laboratories from $830.00 to $800.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Seven investment 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, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average price target of $783.33.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $639.79 on Friday. The stock’s 50-day simple moving average is $691.95 and its 200 day simple moving average is $666.49. The stock has a market capitalization of $51.09 billion, a price-to-earnings ratio of 48.95, a price-to-earnings-growth ratio of 3.93 and a beta of 1.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.23. IDEXX Laboratories has a 52-week low of $356.14 and a 52-week high of $769.98.

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

Hedge Funds Weigh In On IDEXX Laboratories

Hedge funds have recently bought and sold shares of the company. Elyxium Wealth LLC bought a new stake in shares of IDEXX Laboratories in the fourth quarter worth approximately $3,666,459,000. Northwestern Mutual Wealth Management Co. grew its position in IDEXX Laboratories by 63,503.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,444,445 shares of the company’s stock worth $977,210,000 after purchasing an additional 1,442,174 shares during the period. Bank of New York Mellon Corp raised its stake in IDEXX Laboratories by 156.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,451,390 shares of the company’s stock valued at $778,439,000 after buying an additional 884,808 shares during the last quarter. Generation Investment Management LLP bought a new position in shares of IDEXX Laboratories during the 2nd quarter valued at $304,277,000. Finally, Norges Bank purchased a new position in shares of IDEXX Laboratories in the 2nd quarter worth $221,955,000. Institutional investors own 87.84% of the company’s stock.

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.