IDEXX Laboratories (NASDAQ:IDXX) Rating Lowered to Buy at Wall Street Zen

Key Points

• IDEXX Laboratories was downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, indicating a shift in analyst sentiment.
• Several analysts have raised their price targets for IDEXX shares, with current consensus at approximately $649.44, reflecting a generally positive outlook despite the downgrade.
• The company's recent earnings report showed a better-than-expected EPS of $3.63, indicating a strong performance with a quarterly revenue increase of 10.6% year-over-year.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Sunday.

IDXX has been the subject of a number of other reports. Leerink Partners upped their price objective on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Morgan Stanley upped their price objective on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. JPMorgan Chase & Co. increased their price target 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. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target for the company. Finally, Piper Sandler reissued a "neutral" rating and set a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, IDEXX Laboratories currently has an average rating of "Moderate Buy" and a consensus price target of $649.44.

IDEXX Laboratories Stock Up 2.3%

Shares of NASDAQ IDXX opened at $632.22 on Friday. IDEXX Laboratories has a 1 year low of $356.14 and a 1 year high of $688.12. The firm has a market cap of $50.58 billion, a price-to-earnings ratio of 52.64, a PEG ratio of 4.09 and a beta of 1.56. 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 stock's 50-day simple moving average is $625.60 and its 200-day simple moving average is $528.15.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its 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. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 earnings per share. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, equities analysts anticipate that IDEXX Laboratories will post 11.93 earnings per share for the current fiscal year.

Insider Activity

In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 29,260 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $631.98, for a total transaction of $18,491,734.80. Following the completion of the sale, the chief executive officer directly owned 83,311 shares in the company, valued at $52,650,885.78. The trade was a 25.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction that occurred 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 directly owned 7,132 shares in the company, valued at $4,477,041.68. This trade represents a 54.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IDEXX Laboratories

Hedge funds have recently bought and sold shares of the business. MorganRosel Wealth Management LLC purchased a new stake in IDEXX Laboratories in the 1st quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in IDEXX Laboratories in the second quarter worth about $29,000. WealthCollab LLC acquired a new stake in shares of IDEXX Laboratories during the second quarter worth about $30,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after purchasing an additional 30 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter worth approximately $36,000. Hedge funds and other 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.

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