IDEXX Laboratories (NASDAQ:IDXX) Stock Price Down 4.5% - Should You Sell?

Key Points

• IDEXX Laboratories' stock price fell 4.5% to around $610.06, with trading volume decreasing by 89% compared to its average.
• Analysts remain optimistic, with several firms raising their target prices for the stock, including Morgan Stanley to $765.00 and JPMorgan Chase to $675.00, reflecting a consensus rating of "Moderate Buy."
• The company reported stronger than expected quarterly earnings, posting $3.63 earnings per share, surpassing the consensus estimate of $3.28, alongside a revenue increase of 10.6% year-over-year.

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) were down 4.5% during mid-day trading on Wednesday . The company traded as low as $608.87 and last traded at $610.06. Approximately 74,068 shares changed hands during trading, a decline of 89% from the average daily volume of 674,928 shares. The stock had previously closed at $638.89.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley raised their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a report on Friday, August 15th. UBS Group started coverage on shares of IDEXX Laboratories in a report on Wednesday. They issued a "neutral" rating and a $720.00 price target for the company. JPMorgan Chase & Co. boosted their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Leerink Partners raised their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Finally, Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, IDEXX Laboratories has a consensus rating of "Moderate Buy" and an average target price of $656.50.

IDEXX Laboratories Stock Down 4.1%

The firm has a 50-day simple moving average of $629.94 and a two-hundred day simple moving average of $531.26. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The stock has a market cap of $48.99 billion, a P/E ratio of 50.84, a PEG ratio of 4.08 and a beta of 1.56.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.35. The company had revenue of $1.11 billion for 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 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. Equities research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 1,200 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $656.53, for a total value of $787,836.00. Following the transaction, the executive vice president owned 16,807 shares of the company's stock, valued at approximately $11,034,299.71. The trade was a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director M Anne Szostak sold 2,187 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director directly owned 262 shares in the company, valued at approximately $169,600.46. This trade represents a 89.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,057 shares of company stock valued at $34,293,468 in the last three months. Insiders own 0.98% of the company's stock.

Hedge Funds Weigh In On IDEXX Laboratories

Institutional investors have recently bought and sold shares of the stock. MorganRosel Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories in the 1st quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at about $29,000. WealthCollab LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter worth approximately $30,000. Migdal Insurance & Financial Holdings Ltd. increased its stake 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 worth $35,000 after purchasing an additional 30 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in IDEXX Laboratories during the 2nd quarter valued at approximately $36,000. 87.84% of the stock is 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.

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