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

IDEXX Laboratories (NASDAQ:IDXX) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

A number of other brokerages have also recently issued reports on IDXX. Leerink Partners set a $785.00 target price on shares of IDEXX Laboratories in a report on Monday, November 3rd. Piper Sandler dropped their price objective on IDEXX Laboratories from $775.00 to $750.00 and set a “neutral” rating for the company in a research note on Monday, February 9th. JPMorgan Chase & Co. boosted their target price on IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Morgan Stanley raised their price target on IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Finally, UBS Group cut their price target on IDEXX Laboratories from $750.00 to $730.00 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average price target of $783.33.

IDEXX Laboratories Stock Down 0.6%

IDEXX Laboratories stock opened at $656.73 on Friday. The stock’s 50 day moving average price is $672.95 and its 200 day moving average price is $669.12. IDEXX Laboratories has a 1-year low of $356.14 and a 1-year high of $769.98. The company has a market cap of $52.29 billion, a PE ratio of 50.25, a price-to-earnings-growth ratio of 3.99 and a beta of 1.66. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.23 and a quick ratio of 0.90.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Monday, February 2nd. The company reported $2.92 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.01). IDEXX Laboratories had a net margin of 24.62% and a return on equity of 69.78%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business posted $2.53 EPS. IDEXX Laboratories’s revenue was up 14.3% compared to the same quarter last year. IDEXX Laboratories has set its FY 2026 guidance at 14.290-14.800 EPS. On average, sell-side analysts predict that IDEXX Laboratories will post 11.93 EPS for the current fiscal year.

Insider Activity

In other IDEXX Laboratories news, EVP Michael G. Erickson sold 5,371 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $627.38, for a total value of $3,369,657.98. Following the completion of the transaction, the executive vice president directly owned 12,693 shares in the company, valued at approximately $7,963,334.34. The trade was a 29.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nimrata Hunt sold 2,693 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $661.54, for a total value of $1,781,527.22. Following the transaction, the executive vice president directly owned 19,899 shares in the company, valued at approximately $13,163,984.46. This represents a 11.92% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 20,873 shares of company stock worth $13,408,523. Corporate insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On IDEXX Laboratories

Several institutional investors have recently added to or reduced their stakes in the business. BDFS Capital LLC purchased a new position in IDEXX Laboratories in the fourth quarter valued at approximately $671,000. MidFirst Bank acquired a new stake in shares of IDEXX Laboratories in the fourth quarter worth $2,960,000. Pacer Advisors Inc. raised its stake in shares of IDEXX Laboratories by 10.0% in the 4th quarter. Pacer Advisors Inc. now owns 13,965 shares of the company’s stock valued at $9,448,000 after acquiring an additional 1,269 shares during the period. Titan Investment Management LLC acquired a new position in shares of IDEXX Laboratories during the 4th quarter valued at $1,675,000. Finally, Virtu Financial LLC purchased a new stake in IDEXX Laboratories during the 4th quarter worth $2,424,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc (NASDAQ: IDXX) is a global developer, manufacturer and provider of diagnostic products and services primarily for the animal health, water testing and food safety markets. Headquartered in Westbrook, Maine, the company supplies in-clinic diagnostic instruments, consumables, reference laboratory testing and practice-management tools that support veterinarians, livestock and dairy producers, and utilities and food producers worldwide.

IDEXX’s product portfolio includes point-of-care tests and immunoassays designed for rapid diagnosis in veterinary clinics, in-clinic chemistry and hematology analyzers, automated urinalysis systems, and digital diagnostic solutions.