IDEXX Laboratories (NASDAQ:IDXX) Raised to "Strong-Buy" at The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded IDEXX Laboratories to “strong buy,” while the broader analyst consensus remains “moderate buy” with an average price target of $744.09.
• IDEXX shares rose 2.4% to $560.36, though they remain below the 52-week high of $769.98. The company has a $44.15 billion market capitalization and trades at a P/E ratio of 39.41.
• The company reported quarterly EPS of $4.27, beating estimates of $3.94, while revenue increased 9.7% year over year to $1.22 billion. Institutional investors own 87.84% of the stock, despite a recent insider sale by a company director.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) was upgraded by equities researchers at The Goldman Sachs Group to a "strong-buy" rating in a research note issued to investors on Friday, Zacks reports.

A number of other equities research analysts have also recently commented on IDXX. Weiss Ratings raised shares of IDEXX Laboratories from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Citigroup lifted their price target on shares of IDEXX Laboratories from $650.00 to $670.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Barclays decreased their price objective on IDEXX Laboratories from $800.00 to $710.00 and set an "overweight" rating for the company in a report on Tuesday, August 11th. Wall Street Zen cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, UBS Group boosted their target price on IDEXX Laboratories from $620.00 to $670.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $744.09.

IDEXX Laboratories Stock Up 2.4%

IDEXX Laboratories stock traded up $13.18 during trading hours on Friday, reaching $560.36. The stock had a trading volume of 708,811 shares, compared to its average volume of 531,547. The company has a market cap of $44.15 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 2.92 and a beta of 1.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.17 and a quick ratio of 0.87. The business's 50 day moving average price is $534.22 and its 200-day moving average price is $551.84. IDEXX Laboratories has a 52 week low of $500.61 and a 52 week high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $4.27 earnings per share for the quarter, beating analysts' consensus estimates of $3.94 by $0.33. IDEXX Laboratories had a net margin of 25.03% and a return on equity of 71.96%. The business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the business earned $3.50 EPS. The company's revenue was up 9.7% compared to the same quarter last year. IDEXX Laboratories has set its FY 2026 guidance at 14.690-14.940 EPS. Sell-side analysts anticipate that IDEXX Laboratories will post 14.80 EPS for the current year.

Insider Buying and Selling

In other IDEXX Laboratories news, Director Lawrence D. Kingsley sold 2,203 shares of IDEXX Laboratories 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 completion of the sale, the director owned 9,568 shares of the company's stock, valued at approximately $5,090,941.44. The trade was a 18.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.79% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IDXX. Bank of New York Mellon Corp purchased a new stake in IDEXX Laboratories in the second quarter valued at approximately $628,223,000. Arrowstreet Capital Limited Partnership increased its holdings in IDEXX Laboratories by 52.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 838,839 shares of the company's stock worth $471,335,000 after buying an additional 288,471 shares during the period. 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 buying an additional 197,808 shares during the period. Montrusco Bolton Investments Inc. raised its position in IDEXX Laboratories by 93.4% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 342,120 shares of the company's stock worth $186,707,000 after buying an additional 165,188 shares during the last quarter. Finally, American Capital Management Inc. purchased a new position in IDEXX Laboratories during the 2nd quarter worth approximately $85,341,000. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc NASDAQ: IDXX develops and provides diagnostic, information technology and water-testing products and services. The company primarily serves the companion animal veterinary market, helping veterinary practices diagnose and manage diseases through laboratory testing, in-house analyzers, diagnostic kits, imaging systems, software and related consumables.

IDEXX's companion animal offerings include its IDEXX Reference Laboratories, IDEXX VetLab instruments and software, SNAP rapid tests, and practice-management and data solutions.

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