IDEXX Laboratories, Inc. (NASDAQ:IDXX) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• IDEXX Laboratories has a consensus analyst rating of "Moderate Buy", with three hold recommendations, six buy recommendations, and one strong buy recommendation.
• The average price target for IDEXX Laboratories' stock is approximately $649.44, with recent bullish targets set as high as $785.00 by BTIG Research.
• The company recently reported a quarterly EPS of $3.63, exceeding estimates by $0.35, and its revenue increased by 10.6% year-over-year, reaching $1.11 billion.

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $649.4444.

A number of equities research analysts have recently commented on IDXX shares. Piper Sandler reiterated a "neutral" rating and set a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a research report on Monday, August 4th. BTIG Research lifted their target price on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Leerink Partners lifted their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th.

IDEXX Laboratories Trading Down 3.3%

NASDAQ:IDXX opened at $627.17 on Thursday. The company's 50 day moving average price is $621.26 and its 200-day moving average price is $524.68. IDEXX Laboratories has a 52 week low of $356.14 and a 52 week high of $688.12. 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 stock has a market cap of $50.17 billion, a price-to-earnings ratio of 52.22, a PEG ratio of 4.20 and a beta of 1.56.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. 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 for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the company posted $2.44 earnings per share. The business's revenue for the quarter was up 10.6% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, equities research analysts forecast that IDEXX Laboratories will post 11.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories stock in a transaction on Friday, August 8th. The shares were sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the transaction, the executive vice president owned 6,156 shares in the company, valued at $4,011,249.60. This trade represents a 46.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the transaction, the executive vice president owned 7,132 shares in the company, valued at $4,477,041.68. This represents a 54.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,057 shares of company stock worth $34,293,468 in the last 90 days. Insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IDXX. Vise Technologies Inc. boosted its stake in shares of IDEXX Laboratories by 20.3% during the 4th quarter. Vise Technologies Inc. now owns 633 shares of the company's stock worth $262,000 after acquiring an additional 107 shares during the last quarter. Forum Financial Management LP boosted its stake in shares of IDEXX Laboratories by 4.9% during the 4th quarter. Forum Financial Management LP now owns 621 shares of the company's stock worth $257,000 after acquiring an additional 29 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of IDEXX Laboratories by 97.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 1,838 shares of the company's stock worth $760,000 after acquiring an additional 905 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of IDEXX Laboratories during the 4th quarter worth $38,818,000. Finally, Menard Financial Group LLC purchased a new position in shares of IDEXX Laboratories during the 4th quarter worth $45,000. Hedge funds and other institutional investors 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.

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