IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• IDEXX Laboratories, Inc. received a consensus rating of "Moderate Buy" from twelve analysts, with an average 1-year price target set at $656.50.
• The company reported $3.63 EPS for the last quarter, surpassing expectations of $3.28, and achieving a 10.6% year-over-year revenue increase.
• Recent insider trading shows significant selling activity, with insiders collectively selling over 54,000 shares valued at approximately $34.3 million in the last ninety days.

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twelve analysts that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $656.50.

A number of equities research analysts have issued reports on IDXX shares. Morgan Stanley lifted their target price on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research note on Friday, August 15th. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a research note on Monday, August 4th. BTIG Research lifted their target price on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target on the stock. Finally, UBS Group started coverage on shares of IDEXX Laboratories in a report on Wednesday, October 1st. They set a "neutral" rating and a $720.00 price target on the stock.

IDEXX Laboratories Trading Down 0.3%

Shares of NASDAQ:IDXX opened at $635.40 on Monday. The firm has a fifty day moving average of $639.99 and a two-hundred day moving average of $551.18. The firm has a market capitalization of $50.83 billion, a P/E ratio of 52.91, a price-to-earnings-growth ratio of 4.11 and a beta of 1.58. IDEXX Laboratories has a 12-month low of $356.14 and a 12-month 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.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. On average, equities analysts expect that IDEXX Laboratories will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 7,143 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director M Anne Szostak sold 2,187 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the transaction, the director owned 262 shares in the company, valued at $169,600.46. This represents a 89.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,057 shares of company stock worth $34,293,468 in the last ninety days. Company insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IDXX. Bank of New York Mellon Corp raised its holdings in IDEXX Laboratories by 156.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,451,390 shares of the company's stock worth $778,439,000 after acquiring an additional 884,808 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in IDEXX Laboratories by 71.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock worth $835,244,000 after acquiring an additional 825,965 shares during the period. Generation Investment Management LLP bought a new position in IDEXX Laboratories in the 2nd quarter worth $304,277,000. Select Equity Group L.P. bought a new position in IDEXX Laboratories in the 1st quarter worth $194,834,000. Finally, Nuveen LLC bought a new position in IDEXX Laboratories in the 1st quarter worth $179,784,000. Institutional investors own 87.84% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.