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

Wall Street Zen cut shares of IDEXX Laboratories (NASDAQ:IDXX) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

Several other equities analysts have also recently weighed in on IDXX. Morgan Stanley raised their price target on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Leerink Partners set a $785.00 target price on IDEXX Laboratories in a report on Monday, November 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $830.00 price target on shares of IDEXX Laboratories in a research report on Tuesday, November 4th. JPMorgan Chase & Co. raised their price objective on IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Finally, UBS Group upped their target price on shares of IDEXX Laboratories from $710.00 to $750.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $730.50.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $728.97 on Friday. The business’s fifty day moving average is $668.65 and its 200 day moving average is $607.93. IDEXX Laboratories has a 12-month low of $356.14 and a 12-month high of $769.98. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The stock has a market cap of $58.21 billion, a P/E ratio of 60.70, a P/E/G ratio of 4.06 and a beta of 1.62.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Monday, November 3rd. The company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.08. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business’s 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. Sell-side analysts anticipate that IDEXX Laboratories will post 11.93 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $703.34, for a total value of $6,628,979.50. Following the completion of the sale, the executive vice president directly owned 21,149 shares of the company’s stock, valued at $14,874,937.66. This trade represents a 30.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IDEXX Laboratories

Large investors have recently made changes to their positions in the stock. Mutual of America Capital Management LLC boosted its stake in IDEXX Laboratories by 79.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company’s stock worth $8,160,000 after purchasing an additional 8,609 shares during the period. Avantax Advisory Services Inc. lifted its holdings in shares of IDEXX Laboratories by 18.9% in the first quarter. Avantax Advisory Services Inc. now owns 2,200 shares of the company’s stock worth $924,000 after buying an additional 349 shares in the last quarter. LPL Financial LLC boosted its position in shares of IDEXX Laboratories by 11.8% in the first quarter. LPL Financial LLC now owns 37,500 shares of the company’s stock valued at $15,748,000 after acquiring an additional 3,963 shares during the period. Foundations Investment Advisors LLC boosted its position in shares of IDEXX Laboratories by 29.0% in the first quarter. Foundations Investment Advisors LLC now owns 658 shares of the company’s stock valued at $276,000 after acquiring an additional 148 shares during the period. Finally, Vestcor Inc grew its stake in IDEXX Laboratories by 25.8% during the first quarter. Vestcor Inc now owns 1,889 shares of the company’s stock valued at $793,000 after acquiring an additional 388 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

About IDEXX Laboratories

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.