IDEXX Laboratories (NASDAQ:IDXX) Earns Neutral Rating from Analysts at UBS Group

Key Points

• Analysts at UBS Group have initiated coverage on IDEXX Laboratories with a “neutral” rating and set a price target of $720.00, indicating a potential upside of 13.59% from the current stock price.
• The company's recent quarterly earnings topped analysts' expectations, reporting $3.63 EPS and $1.11 billion in revenue, reflecting a 10.6% year-over-year increase.
• Insiders have sold over 54,000 shares of IDEXX stock in the past 90 days, while institutional investors own approximately 87.84% of the company's stock.

Research analysts at UBS Group assumed coverage on shares of IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) in a note issued to investors on Wednesday, Marketbeat.com reports. The firm set a "neutral" rating and a $720.00 price target on the stock. UBS Group's price target would indicate a potential upside of 13.59% from the stock's previous close.

A number of other brokerages also recently issued reports on IDXX. Wall Street Zen downgraded IDEXX Laboratories from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 28th. Leerink Partners upped their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. upped their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Piper Sandler restated a "neutral" rating and issued a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Finally, Jefferies Financial Group initiated coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $656.50.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $633.84 on Wednesday. IDEXX Laboratories has a one year low of $356.14 and a one year high of $688.12. The company has a market cap of $50.71 billion, a PE ratio of 52.78, a P/E/G ratio of 4.02 and a beta of 1.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The business has a 50-day simple moving average of $633.20 and a 200-day simple moving average of $533.33.

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, topping the consensus estimate of $3.28 by $0.35. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm's revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.44 EPS. 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 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other news, EVP Michael Lane sold 8,411 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total value of $5,279,921.14. Following the completion of the sale, the executive vice president directly owned 7,132 shares of the company's stock, valued at $4,477,041.68. This trade represents a 54.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael G. Erickson sold 406 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $649.96, for a total value of $263,883.76. Following the completion of the sale, the executive vice president directly owned 11,287 shares of the company's stock, valued at $7,336,098.52. This represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,057 shares of company stock valued at $34,293,468 over the last 90 days. Insiders own 0.98% of the company's stock.

Institutional Investors Weigh In On IDEXX Laboratories

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its holdings in IDEXX Laboratories by 156.2% during the second quarter. Bank of New York Mellon Corp now owns 1,451,390 shares of the company's stock worth $778,439,000 after purchasing an additional 884,808 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in IDEXX Laboratories by 71.0% during the first 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 last quarter. Generation Investment Management LLP acquired a new position in IDEXX Laboratories during the second quarter worth about $304,277,000. Select Equity Group L.P. acquired a new position in shares of IDEXX Laboratories during the 1st quarter worth approximately $194,834,000. Finally, Nuveen LLC acquired a new position in shares of IDEXX Laboratories during the 1st quarter worth approximately $179,784,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

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.