JPMorgan Chase & Co. Has Lowered Expectations for IDEXX Laboratories (NASDAQ:IDXX) Stock Price

Key Points

• JPMorgan lowered its IDEXX Laboratories price target from $775 to $750 while maintaining an “overweight” rating, implying approximately 33.2% upside from the reported $563.06 share price.
• Analyst sentiment remains positive overall: IDEXX has a consensus “Moderate Buy” rating and an average price target of $744.09, despite some recent target reductions and a “hold” downgrade from Wall Street Zen.
• IDEXX exceeded quarterly expectations, reporting $4.27 in EPS versus a $3.94 consensus estimate and $1.22 billion in revenue, up 9.7% year over year. Institutional investors own 87.84% of the company, while an insider recently sold shares.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $775.00 to $750.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 33.20% from the company's current price.

A number of other analysts have also recently issued reports on the stock. KeyCorp assumed coverage on shares of IDEXX Laboratories in a research note on Monday. They issued a "sector weight" rating for the company. The Goldman Sachs Group initiated coverage on IDEXX Laboratories in a research note on Friday. They issued a "buy" rating and a $740.00 price target for the company. Wall Street Zen lowered IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Barclays cut their target price on IDEXX Laboratories from $800.00 to $710.00 and set an "overweight" rating for the company in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised IDEXX Laboratories from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $744.09.

IDEXX Laboratories Stock Performance

Shares of IDXX stock traded up $15.88 during trading hours on Friday, reaching $563.06. 217,941 shares of the company traded hands, compared to its average volume of 568,195. IDEXX Laboratories has a 12-month low of $500.61 and a 12-month 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. The company has a market cap of $44.36 billion, a P/E ratio of 39.77, a P/E/G ratio of 2.83 and a beta of 1.55. The firm has a 50-day moving average price of $534.75 and a 200 day moving average price of $551.78.

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

Insiders Place Their Bets

In other IDEXX Laboratories news, Director Lawrence D. Kingsley sold 2,203 shares of IDEXX Laboratories stock in a transaction on Friday, September 4th. The shares were sold at an average price of $532.08, for a total value of $1,172,172.24. Following the sale, the director directly owned 9,568 shares in the company, 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 is accessible through this link. Insiders own 0.79% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Aurora Investment Managers LLC. bought a new stake in IDEXX Laboratories in the 2nd quarter worth approximately $2,442,000. National Pension Service boosted its position in shares of IDEXX Laboratories by 5.6% during the 2nd quarter. National Pension Service now owns 129,305 shares of the company's stock valued at $68,071,000 after acquiring an additional 6,885 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of IDEXX Laboratories by 60.9% during the 1st quarter. NewEdge Advisors LLC now owns 15,221 shares of the company's stock valued at $8,552,000 after acquiring an additional 5,761 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of IDEXX Laboratories by 4.9% in the second quarter. Arizona State Retirement System now owns 22,772 shares of the company's stock valued at $11,988,000 after purchasing an additional 1,074 shares in the last quarter. Finally, SVB Wealth LLC grew its holdings in shares of IDEXX Laboratories by 17.4% in the first quarter. SVB Wealth LLC now owns 7,335 shares of the company's stock valued at $4,121,000 after purchasing an additional 1,089 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 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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