IDEXX Laboratories (NASDAQ:IDXX) Hits New 12-Month High Following Earnings Beat

IDEXX Laboratories, Inc. (NASDAQ:IDXX)’s stock price reached a new 52-week high during trading on Monday following a stronger than expected earnings report. The company traded as high as $733.52 and last traded at $718.6060, with a volume of 167718 shares traded. The stock had previously closed at $629.51.

The company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.26. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.80 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS.

Wall Street Analyst Weigh In

IDXX has been the topic of a number of recent analyst reports. Wall Street Zen cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 28th. Leerink Partners upped their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. BTIG Research upped their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. upped their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Finally, Morgan Stanley upped their price target on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an “overweight” rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $662.50.

Insider Transactions at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 7,143 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total value of $4,503,161.49. Following the completion of the sale, the executive vice president owned 18,007 shares in the company, valued at $11,352,153.01. This trade represents a 28.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sharon E. Underberg sold 5,450 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the completion of the transaction, the executive vice president directly owned 6,156 shares of the company’s stock, valued at approximately $4,011,249.60. This trade represents a 46.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,057 shares of company stock valued at $34,293,468 over the last ninety days. Company insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC increased its stake in shares of IDEXX Laboratories by 79.6% in the first quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company’s stock valued at $8,160,000 after purchasing an additional 8,609 shares during the period. Plato Investment Management Ltd increased its stake in shares of IDEXX Laboratories by 37.1% in the first quarter. Plato Investment Management Ltd now owns 3,087 shares of the company’s stock valued at $1,310,000 after purchasing an additional 835 shares during the period. Genesis Wealth Advisors LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $215,000. ORG Wealth Partners LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $273,000. Finally, Symmetry Partners LLC acquired a new position in shares of IDEXX Laboratories during the second quarter valued at approximately $266,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Up 16.0%

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 firm has a market cap of $58.41 billion, a price-to-earnings ratio of 60.61, a price-to-earnings-growth ratio of 4.06 and a beta of 1.58. The stock’s 50 day moving average is $637.89 and its 200 day moving average is $569.77.

IDEXX Laboratories Company Profile

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.