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

Key Points

• IDEXX Laboratories, Inc. has received an average recommendation of "Moderate Buy" from ten research firms, with target prices ranging from $600 to $785.
• Insider activity included significant sales by Director M Anne Szostak and CEO Jonathan Jay Mazelsky, indicating a decrease in their positions by 89.3% and 26%, respectively.
• The company reported earnings per share (EPS) of $3.63 for the last quarter, exceeding expectations, with revenue growth of 10.6% year-over-year.

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) has received an average rating of "Moderate Buy" from the ten brokerages that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $649.4444.

Several research firms have weighed in on IDXX. JPMorgan Chase & Co. lifted their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Morgan Stanley lifted their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a report on Friday, August 15th. Jefferies Financial Group began coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price on the stock. Piper Sandler reiterated a "neutral" rating and set a $700.00 target price (up from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Finally, Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th.

IDEXX Laboratories Trading Up 1.0%

Shares of NASDAQ IDXX traded up $6.49 during midday trading on Friday, hitting $640.44. The stock had a trading volume of 440,527 shares, compared to its average volume of 431,028. The company's 50-day simple moving average is $590.99 and its 200 day simple moving average is $505.39. The firm has a market cap of $51.24 billion, a P/E ratio of 53.33, a price-to-earnings-growth ratio of 4.11 and a beta of 1.56. IDEXX Laboratories has a fifty-two week low of $356.14 and a fifty-two week high of $688.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.35. 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 $1.06 billion. During the same period in the previous year, the firm earned $2.44 earnings per share. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. Research analysts anticipate that IDEXX Laboratories will post 11.93 EPS for the current year.

Insider Activity

In other news, EVP Sharon E. Underberg sold 5,450 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $651.60, for a total value of $3,551,220.00. Following the sale, the executive vice president directly owned 6,156 shares in the company, valued at $4,011,249.60. The trade was a 46.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nimrata Hunt sold 7,143 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total value of $4,503,161.49. Following the completion of the sale, the executive vice president owned 18,007 shares in the company, valued at approximately $11,352,153.01. This trade represents a 28.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,057 shares of company stock valued at $34,293,468. Company insiders own 0.98% of the company's stock.

Institutional Trading of IDEXX Laboratories

A number of institutional investors have recently modified their holdings of IDXX. Quarry LP acquired a new position in IDEXX Laboratories during the fourth quarter valued at approximately $49,000. Schonfeld Strategic Advisors LLC boosted its position in IDEXX Laboratories by 121.2% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 9,280 shares of the company's stock valued at $3,837,000 after purchasing an additional 5,085 shares during the last quarter. Itau Unibanco Holding S.A. boosted its position in IDEXX Laboratories by 540.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock valued at $40,000 after purchasing an additional 81 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in IDEXX Laboratories by 7.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 4,667 shares of the company's stock worth $1,929,000 after buying an additional 321 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in IDEXX Laboratories by 1,483.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 9,962 shares of the company's stock worth $4,119,000 after buying an additional 9,333 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

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.