BTIG Research Drops Coverage on IDEXX Laboratories (NASDAQ:IDXX)

Investment analysts at BTIG Research dropped coverage on shares of IDEXX Laboratories (NASDAQ:IDXX) in a research report issued to clients and investors on Friday, Benzinga reports. The firm had previously set a “buy” rating on the stock.

Other analysts have also recently issued research reports about the company. UBS Group lowered their price target on IDEXX Laboratories from $670.00 to $627.00 and set a “neutral” rating for the company in a research report on Tuesday. Barclays cut their price objective on IDEXX Laboratories from $800.00 to $710.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. KeyCorp initiated coverage on IDEXX Laboratories in a research note on Monday, October 12th. They issued a “sector weight” rating for the company. JPMorgan Chase & Co. decreased their target price on IDEXX Laboratories from $775.00 to $750.00 and set an “overweight” rating for the company in a report on Friday, October 16th. Finally, Weiss Ratings upgraded IDEXX Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $721.67.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock traded down $24.77 during mid-day trading on Friday, reaching $551.21. 1,117,694 shares of the company traded hands, compared to its average volume of 568,107. The firm’s fifty day moving average is $534.16 and its two-hundred day moving average is $574.96. The company has a market capitalization of $43.42 billion, a price-to-earnings ratio of 38.76 and a beta of 1.55. IDEXX Laboratories has a fifty-two week low of $500.61 and a fifty-two week high of $769.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.17 and a quick ratio of 0.87.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $4.27 EPS for the quarter, topping the consensus estimate of $3.94 by $0.33. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. IDEXX Laboratories had a net margin of 25.03% and a return on equity of 71.96%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.50 earnings per share. IDEXX Laboratories has set its FY 2026 guidance at 14.690-14.940 EPS. On average, equities research analysts expect that IDEXX Laboratories will post 14.81 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Lawrence D. Kingsley sold 2,203 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $532.08, for a total transaction of $1,172,172.24. Following the sale, the director directly owned 9,568 shares in the company, valued at $5,090,941.44. This trade represents a 18.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IDEXX Laboratories

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new position in shares of IDEXX Laboratories during the 2nd quarter worth approximately $628,223,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in IDEXX Laboratories by 4.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 911,489 shares of the company’s stock valued at $479,844,000 after acquiring an additional 39,700 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in IDEXX Laboratories by 52.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 838,839 shares of the company’s stock valued at $471,335,000 after acquiring an additional 288,471 shares during the period. Dimensional Fund Advisors LP increased its holdings in IDEXX Laboratories by 4.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 573,332 shares of the company’s stock worth $322,145,000 after acquiring an additional 23,582 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its holdings in IDEXX Laboratories by 97.3% in the 2nd quarter. Alyeska Investment Group L.P. now owns 401,082 shares of the company’s stock worth $211,146,000 after acquiring an additional 197,808 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc (NASDAQ: IDXX) develops and provides diagnostic, information technology, and related products and services for the animal health and water testing markets. The company primarily serves veterinary practices, helping them diagnose and monitor diseases through laboratory tests, in-clinic analyzers, software, and digital practice-management solutions.

IDEXX’s companion animal offerings include hematology, chemistry, urinalysis, immunodiagnostics, and imaging-related products, along with reference laboratory services and veterinary software.