Brokerages Set IDEXX Laboratories, Inc. (NASDAQ:IDXX) Price Target at $649.44

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been given an average rating of “Moderate Buy” by the eleven research firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $656.50.

A number of brokerages recently commented on IDXX. JPMorgan Chase & Co. increased 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. Morgan Stanley increased their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the company an “overweight” rating in a research report on Friday, August 15th. BTIG Research boosted their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Wall Street Zen lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Piper Sandler reissued a “neutral” rating and issued a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th.

IDEXX Laboratories Stock Performance

IDXX opened at $620.11 on Thursday. 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 has a market capitalization of $49.61 billion, a price-to-earnings ratio of 51.63, a PEG ratio of 4.14 and a beta of 1.58. The company has a fifty day moving average of $631.52 and a 200 day moving average of $531.87. IDEXX Laboratories has a fifty-two week low of $356.14 and a fifty-two week high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $3.28 by $0.35. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.44 EPS. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, sell-side analysts forecast that IDEXX Laboratories will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director M Anne Szostak sold 2,187 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total value of $1,415,710.71. Following the completion of the sale, the director directly owned 262 shares of the company’s stock, valued at $169,600.46. This trade represents a 89.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael G. Erickson sold 406 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $649.96, for a total value of $263,883.76. Following the completion of the transaction, the executive vice president owned 11,287 shares of the company’s stock, valued at approximately $7,336,098.52. This trade represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 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 Investors Weigh In On IDEXX Laboratories

Several institutional investors have recently made changes to their positions in IDXX. Vise Technologies Inc. lifted its stake in IDEXX Laboratories by 20.3% in the fourth quarter. Vise Technologies Inc. now owns 633 shares of the company’s stock worth $262,000 after purchasing an additional 107 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of IDEXX Laboratories by 4.9% in the fourth quarter. Forum Financial Management LP now owns 621 shares of the company’s stock worth $257,000 after buying an additional 29 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of IDEXX Laboratories by 97.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 1,838 shares of the company’s stock worth $760,000 after acquiring an additional 905 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in IDEXX Laboratories during the 4th quarter valued at $38,818,000. Finally, Menard Financial Group LLC purchased a new stake in IDEXX Laboratories in the fourth quarter worth $45,000. 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.