IDEXX Laboratories (NASDAQ:IDXX) Issues Earnings Results

IDEXX Laboratories (NASDAQ:IDXX) posted its earnings results on Monday. The company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.73 by $0.23, FiscalAI reports. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. IDEXX Laboratories had a net margin of 25.03% and a return on equity of 71.96%.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $551.21 on Monday. The stock has a market capitalization of $43.42 billion, a P/E ratio of 38.76 and a beta of 1.55. The company has a 50-day moving average price of $534.27 and a 200-day moving average price of $574.09. IDEXX Laboratories has a 1 year low of $500.61 and a 1 year high of $769.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.17 and a quick ratio of 0.87.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director Lawrence D. Kingsley sold 2,203 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $532.08, for a total value of $1,172,172.24. Following the completion of the sale, the director directly owned 9,568 shares of the company’s stock, valued at approximately $5,090,941.44. This represents a 18.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IDXX. Citigroup raised their target price on IDEXX Laboratories from $650.00 to $670.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. UBS Group reduced their price target on IDEXX Laboratories from $670.00 to $627.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 27th. Weiss Ratings raised IDEXX Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. KeyCorp began coverage on IDEXX Laboratories in a research report on Monday, October 12th. They set a “sector weight” rating for the company. Finally, The Goldman Sachs Group began coverage on IDEXX Laboratories in a research report on Friday, October 16th. They set a “buy” rating and a $740.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $721.67.

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.