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 report issued on Saturday morning.

IDXX has been the topic of a number of other reports. Stifel Nicolaus set a $775.00 price target on IDEXX Laboratories in a research note on Monday, November 3rd. Jefferies Financial Group reissued a “buy” rating and set a $830.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, November 4th. Piper Sandler dropped their target price on IDEXX Laboratories from $775.00 to $750.00 and set a “neutral” rating for the company in a research report on Monday, February 9th. JPMorgan Chase & Co. boosted their price target on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Finally, Morgan Stanley raised their price objective on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average target price of $783.33.

IDEXX Laboratories Stock Down 3.0%

Shares of IDXX opened at $636.70 on Friday. The firm has a market cap of $50.69 billion, a P/E ratio of 48.71, a price-to-earnings-growth ratio of 3.99 and a beta of 1.66. IDEXX Laboratories has a 12-month low of $356.14 and a 12-month high of $769.98. The company’s 50-day moving average price is $671.64 and its 200 day moving average price is $669.00. The company has a current ratio of 1.23, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Monday, February 2nd. The company reported $2.92 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.01). The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. IDEXX Laboratories had a return on equity of 69.78% and a net margin of 24.62%.The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the business earned $2.53 EPS. IDEXX Laboratories has set its FY 2026 guidance at 14.290-14.800 EPS. On average, sell-side analysts forecast that IDEXX Laboratories will post 11.93 earnings per share for the current year.

Insider Buying and Selling at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 1,464 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $628.62, for a total transaction of $920,299.68. Following the sale, the director directly owned 648 shares in the company, valued at approximately $407,345.76. This represents a 69.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 23,326 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $657.55, for a total transaction of $15,338,011.30. Following the completion of the sale, the chief executive officer directly owned 83,606 shares in the company, valued at approximately $54,975,125.30. This trade represents a 21.81% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 44,199 shares of company stock valued at $28,746,535. 0.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On IDEXX Laboratories

Institutional investors have recently modified their holdings of the company. Blalock Williams LLC acquired a new stake in shares of IDEXX Laboratories in the 3rd quarter valued at about $590,000. New York State Common Retirement Fund boosted its holdings in shares of IDEXX Laboratories by 6.8% in the third quarter. New York State Common Retirement Fund now owns 60,225 shares of the company’s stock valued at $38,477,000 after acquiring an additional 3,820 shares during the period. Mediolanum International Funds Ltd grew its position in shares of IDEXX Laboratories by 14.5% during the third quarter. Mediolanum International Funds Ltd now owns 38,761 shares of the company’s stock worth $24,441,000 after acquiring an additional 4,909 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in shares of IDEXX Laboratories in the 2nd quarter valued at $405,000. Finally, Principal Financial Group Inc. raised its position 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 during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

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.