IDEXX Laboratories (NASDAQ:IDXX) Stock Rating Upgraded by Wall Street Zen

IDEXX Laboratories (NASDAQ:IDXX) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Several other research firms have also recently commented on IDXX. BTIG Research boosted their target price on IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. UBS Group lifted their price objective on IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Stifel Nicolaus set a $775.00 price objective on IDEXX Laboratories in a research report on Monday, November 3rd. Leerink Partners set a $785.00 target price on shares of IDEXX Laboratories in a report on Monday, November 3rd. Finally, Morgan Stanley lifted their price target on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average target price of $730.50.

IDEXX Laboratories Stock Down 0.7%

Shares of NASDAQ:IDXX opened at $708.45 on Friday. The firm’s 50-day moving average is $645.28 and its two-hundred day moving average is $580.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. IDEXX Laboratories has a 1 year low of $356.14 and a 1 year high of $735.00. The firm has a market capitalization of $56.57 billion, a PE ratio of 58.99, a price-to-earnings-growth ratio of 4.06 and a beta of 1.62.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, November 3rd. The company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.26. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business posted $2.80 earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Analysts predict that IDEXX Laboratories will post 11.93 EPS for the current year.

Insider Buying and Selling

In other news, EVP Michael G. Erickson sold 406 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total transaction of $263,883.76. Following the completion of the sale, the executive vice president owned 11,287 shares in the company, valued at approximately $7,336,098.52. The trade was a 3.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director M Anne Szostak sold 2,187 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the completion of the transaction, the director owned 262 shares of the company’s stock, valued at approximately $169,600.46. The trade was a 89.30% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.98% of the stock is currently owned by company insiders.

Institutional Trading of IDEXX Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in IDXX. Opal Wealth Advisors LLC purchased a new position in IDEXX Laboratories during the 2nd quarter worth approximately $29,000. WealthCollab LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $30,000. J.Safra Asset Management Corp acquired a new stake in shares of IDEXX Laboratories in the third quarter valued at approximately $31,000. Armstrong Advisory Group Inc. grew its position in shares of IDEXX Laboratories by 55.9% during the third quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock worth $34,000 after acquiring an additional 19 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of IDEXX Laboratories by 55.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock valued at $35,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

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.