IDEXX Laboratories (NASDAQ:IDXX) Rating Lowered to Buy at Wall Street Zen

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

Several other brokerages also recently commented on IDXX. Leerink Partners set a $785.00 price objective on shares of IDEXX Laboratories in a research report on Monday, November 3rd. Stifel Nicolaus set a $775.00 price target on shares of IDEXX Laboratories in a report on Monday, November 3rd. Jefferies Financial Group restated a “buy” rating and issued a $830.00 price objective on shares of IDEXX Laboratories in a report on Tuesday, November 4th. BTIG Research upped their price objective on IDEXX Laboratories from $785.00 to $830.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of IDEXX Laboratories in a report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $730.50.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $753.05 on Friday. IDEXX Laboratories has a twelve month low of $356.14 and a twelve 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 company has a market capitalization of $60.13 billion, a P/E ratio of 62.70, a PEG ratio of 4.06 and a beta of 1.62. The stock’s 50 day moving average is $666.95 and its 200 day moving average is $606.40.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, November 3rd. The company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.08. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The business 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 earned $2.80 earnings per share. The firm’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. On average, equities research analysts predict that IDEXX Laboratories will post 11.93 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On IDEXX Laboratories

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Lantern Wealth Advisors LLC purchased a new stake in IDEXX Laboratories during the third quarter valued at approximately $243,000. Alexander Labrunerie & CO. Inc. bought a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at $229,000. CIBC Bancorp USA Inc. bought a new position in IDEXX Laboratories in the 3rd quarter worth $8,934,000. Achmea Investment Management B.V. lifted its position in IDEXX Laboratories by 319.9% during the third quarter. Achmea Investment Management B.V. now owns 17,769 shares of the company’s stock valued at $11,353,000 after purchasing an additional 13,537 shares in the last quarter. Finally, Center For Asset Management LLC bought a new stake in IDEXX Laboratories during the third quarter valued at about $250,000. Hedge funds and other 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.