IDEXX Laboratories (NASDAQ:IDXX) Now Covered by UBS Group

Stock analysts at UBS Group began coverage on shares of IDEXX Laboratories (NASDAQ:IDXX) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage set a “neutral” rating and a $720.00 price target on the stock. UBS Group’s price objective indicates a potential upside of 13.59% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Leerink Partners boosted their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. JPMorgan Chase & Co. upped their price objective on IDEXX Laboratories from $550.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Wall Street Zen cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 28th. Morgan Stanley upped their target price on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an “overweight” rating in a report on Friday, August 15th. Finally, Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $656.50.

IDEXX Laboratories Trading Up 2.2%

Shares of IDXX opened at $633.84 on Wednesday. IDEXX Laboratories has a 12-month low of $356.14 and a 12-month high of $688.12. 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 capitalization of $50.71 billion, a price-to-earnings ratio of 52.78, a P/E/G ratio of 4.02 and a beta of 1.58. The stock’s 50-day moving average price is $633.20 and its 200 day moving average price is $533.33.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.35. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, research analysts predict that IDEXX Laboratories will post 11.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Michael Lane sold 8,411 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total value of $5,279,921.14. Following the sale, the executive vice president directly owned 7,132 shares of the company’s stock, valued at approximately $4,477,041.68. The trade was a 54.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director M Anne Szostak sold 2,187 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $647.33, for a total value of $1,415,710.71. Following the completion of the sale, the director owned 262 shares in the company, valued at approximately $169,600.46. This trade represents a 89.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,057 shares of company stock worth $34,293,468 in the last ninety days. 0.98% of the stock is owned by insiders.

Institutional Trading of IDEXX Laboratories

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in IDEXX Laboratories by 12.0% during the third quarter. GAMMA Investing LLC now owns 2,727 shares of the company’s stock worth $1,742,000 after acquiring an additional 292 shares in the last quarter. Caldwell Trust Co bought a new stake in shares of IDEXX Laboratories during the 2nd quarter worth approximately $41,000. Valeo Financial Advisors LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter worth approximately $225,000. Osaic Holdings Inc. raised its position in IDEXX Laboratories by 15.9% during the second quarter. Osaic Holdings Inc. now owns 12,458 shares of the company’s stock worth $6,312,000 after acquiring an additional 1,710 shares in the last quarter. Finally, American Trust raised its position in IDEXX Laboratories by 19.0% during the second quarter. American Trust now owns 1,656 shares of the company’s stock worth $888,000 after acquiring an additional 264 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

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.