IDEXX Laboratories (NASDAQ:IDXX) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• IDEXX Laboratories has been upgraded from a "buy" rating to a "strong-buy" rating by Wall Street Zen, indicating increased confidence from analysts.
• The company's quarterly earnings beat consensus estimates, reporting $3.63 EPS and $1.11 billion in revenue, which is a 10.6% year-over-year increase.
• Insider selling activity is notable, with the CEO selling 29,260 shares at an average price of $631.98, reducing his ownership by nearly 26%.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

Several other analysts have also commented on IDXX. Piper Sandler reaffirmed a "neutral" rating and issued a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. JPMorgan Chase & Co. boosted their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective for the company. BTIG Research boosted their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Stifel Nicolaus set a $640.00 price objective on IDEXX Laboratories in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, IDEXX Laboratories has an average rating of "Moderate Buy" and a consensus target price of $649.44.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $656.16 on Friday. The stock's fifty day simple moving average is $614.44 and its 200 day simple moving average is $520.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79. The firm has a market cap of $52.49 billion, a price-to-earnings ratio of 54.63, a P/E/G ratio of 4.24 and a beta of 1.56. IDEXX Laboratories has a one year low of $356.14 and a one year high of $688.12.

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

Insider Activity

In related news, CEO Jonathan Jay Mazelsky sold 29,260 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total transaction of $18,491,734.80. Following the completion of the transaction, the chief executive officer directly owned 83,311 shares of the company's stock, valued at approximately $52,650,885.78. This represents a 25.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nimrata Hunt sold 7,143 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 18,007 shares of the company's stock, valued at $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 ninety days, insiders sold 54,057 shares of company stock valued at $34,293,468. Corporate insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IDXX. MorganRosel Wealth Management LLC acquired a new position in IDEXX Laboratories during the first quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new position in IDEXX Laboratories during the second quarter valued at approximately $29,000. WealthCollab LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of IDEXX Laboratories by 55.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after buying an additional 30 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $36,000. 87.84% of the stock is 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.

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