BTIG Research Drops Coverage on IDEXX Laboratories (NASDAQ:IDXX)

Equities researchers at BTIG Research dropped coverage on shares of IDEXX Laboratories (NASDAQ:IDXX) in a research note issued to investors on Friday, Benzinga reports. The firm had previously set a “buy” rating on the stock.

Several other equities research analysts have also issued reports on IDXX. Wall Street Zen lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Citigroup boosted their target price on IDEXX Laboratories from $650.00 to $670.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded IDEXX Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Barclays lowered their price target on IDEXX Laboratories from $800.00 to $710.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group dropped their price objective on shares of IDEXX Laboratories from $795.00 to $705.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $721.67.

IDEXX Laboratories Price Performance

Shares of IDXX traded down $24.77 during mid-day trading on Friday, hitting $551.21. 1,117,694 shares of the stock were exchanged, compared to its average volume of 568,107. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.87 and a current ratio of 1.17. The company has a market cap of $43.42 billion, a PE ratio of 38.76 and a beta of 1.55. IDEXX Laboratories has a 52-week low of $500.61 and a 52-week high of $769.98. The firm has a 50-day moving average of $534.16 and a two-hundred day moving average of $574.96.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Tuesday, August 4th. The company reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.94 by $0.33. IDEXX Laboratories had a net margin of 25.03% and a return on equity of 71.96%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm posted $3.50 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 9.7% compared to the same quarter last year. IDEXX Laboratories has set its FY 2026 guidance at 14.690-14.940 EPS. On average, equities analysts predict that IDEXX Laboratories will post 14.81 earnings per share for the current year.

Insider Transactions at IDEXX Laboratories

In related news, Director Lawrence D. Kingsley sold 2,203 shares of the business’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $532.08, for a total transaction of $1,172,172.24. Following the completion of the transaction, the director owned 9,568 shares in the company, valued at $5,090,941.44. The trade was a 18.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is currently owned by insiders.

Institutional Trading of IDEXX Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of IDXX. TrinityBridge Ltd purchased a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at $163,000. Aware Super Pty Ltd as trustee of Aware Super increased its position in IDEXX Laboratories by 26.1% during the 3rd quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 74,577 shares of the company’s stock valued at $38,943,000 after buying an additional 15,454 shares in the last quarter. Legacy Wealth Management LLC MS acquired a new position in IDEXX Laboratories during the 3rd quarter valued at about $478,000. Gerber Kawasaki Wealth & Investment Management increased its position in IDEXX Laboratories by 21.7% during the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 572 shares of the company’s stock valued at $299,000 after buying an additional 102 shares in the last quarter. Finally, Greenfield Seitz Capital Management LLC raised its stake in IDEXX Laboratories by 1.2% in the third quarter. Greenfield Seitz Capital Management LLC now owns 4,925 shares of the company’s stock valued at $2,572,000 after buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc (NASDAQ: IDXX) develops and provides diagnostic, information technology, and related products and services for the animal health and water testing markets. The company primarily serves veterinary practices, helping them diagnose and monitor diseases through laboratory tests, in-clinic analyzers, software, and digital practice-management solutions.

IDEXX’s companion animal offerings include hematology, chemistry, urinalysis, immunodiagnostics, and imaging-related products, along with reference laboratory services and veterinary software.