IDEXX Laboratories (NASDAQ:IDXX) Shares Down 6.9% – Here’s What Happened

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) dropped 6.9% during trading on Monday . The stock traded as low as $625.00 and last traded at $624.3290. Approximately 507,173 shares changed hands during mid-day trading, an increase of 7% from the average daily volume of 475,369 shares. The stock had previously closed at $670.46.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. UBS Group lowered their price target on IDEXX Laboratories from $750.00 to $730.00 and set a “neutral” rating on the stock in a report on Tuesday. Barclays assumed coverage on IDEXX Laboratories in a research report on Monday, December 8th. They issued an “overweight” rating and a $850.00 price target on the stock. Leerink Partners set a $785.00 price objective on IDEXX Laboratories in a research note on Monday, November 3rd. Finally, JPMorgan Chase & Co. lifted their target price on IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and an average target price of $783.33.

IDEXX Laboratories Price Performance

The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $698.15 and a two-hundred day simple moving average of $663.33. The company has a market cap of $51.34 billion, a PE ratio of 49.19, a price-to-earnings-growth ratio of 3.86 and a beta of 1.67.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Monday, February 2nd. The company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.93 by $0.15. IDEXX Laboratories had a return on equity of 69.78% and a net margin of 24.62%.The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business posted $2.53 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2026 guidance at 14.290-14.800 EPS. On average, equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP Nimrata Hunt sold 9,425 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $703.34, for a total transaction of $6,628,979.50. Following the transaction, the executive vice president directly owned 21,149 shares of the company’s stock, valued at $14,874,937.66. This represents a 30.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.98% of the stock is currently owned by company insiders.

Institutional Trading of IDEXX Laboratories

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of IDEXX Laboratories by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,962,025 shares of the company’s stock worth $6,364,638,000 after acquiring an additional 86,040 shares in the last quarter. Geode Capital Management LLC raised its holdings in IDEXX Laboratories by 2.3% during the second quarter. Geode Capital Management LLC now owns 2,464,290 shares of the company’s stock worth $1,317,875,000 after purchasing an additional 54,402 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in IDEXX Laboratories by 41.7% during the third quarter. Bank of New York Mellon Corp now owns 2,056,680 shares of the company’s stock worth $1,313,992,000 after purchasing an additional 605,290 shares during the last quarter. Invesco Ltd. boosted its position in IDEXX Laboratories by 14.0% during the third quarter. Invesco Ltd. now owns 1,320,263 shares of the company’s stock worth $843,503,000 after purchasing an additional 161,782 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in IDEXX Laboratories by 16.7% in the third quarter. Principal Financial Group Inc. now owns 1,315,722 shares of the company’s stock valued at $840,638,000 after purchasing an additional 187,967 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

About IDEXX Laboratories

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.