IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives $763.50 Consensus Target Price from Brokerages

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $763.50.

IDXX has been the topic of a number of research reports. UBS Group raised their target price on shares of IDEXX Laboratories from $710.00 to $750.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Morgan Stanley raised their price objective on IDEXX Laboratories from $765.00 to $805.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Jefferies Financial Group reaffirmed a “buy” rating and set a $830.00 target price on shares of IDEXX Laboratories in a research report on Tuesday, November 4th. Weiss Ratings cut IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Finally, Stifel Nicolaus set a $775.00 price target on IDEXX Laboratories in a research note on Monday, November 3rd.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction dated 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 owned 21,149 shares of the company’s stock, valued at approximately $14,874,937.66. This trade represents a 30.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On IDEXX Laboratories

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in IDEXX Laboratories by 0.9% in the third quarter. Vanguard Group Inc. now owns 9,962,025 shares of the company’s stock worth $6,364,638,000 after buying an additional 86,040 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of IDEXX Laboratories by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,464,290 shares of the company’s stock valued at $1,317,875,000 after acquiring an additional 54,402 shares during the period. Bank of New York Mellon Corp raised its position in shares of IDEXX Laboratories by 41.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,056,680 shares of the company’s stock worth $1,313,992,000 after acquiring an additional 605,290 shares in the last quarter. Invesco Ltd. lifted its stake in shares of IDEXX Laboratories by 14.0% during the 3rd 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 during the last quarter. Finally, Principal Financial Group Inc. boosted its position in IDEXX Laboratories by 16.7% during 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 in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 0.9%

NASDAQ:IDXX opened at $670.46 on Wednesday. IDEXX Laboratories has a twelve month low of $356.14 and a twelve month high of $769.98. The company has a market cap of $53.54 billion, a price-to-earnings ratio of 53.17, a price-to-earnings-growth ratio of 3.61 and a beta of 1.67. The stock has a fifty day simple moving average of $705.35 and a 200-day simple moving average of $659.88. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, November 3rd. The company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.08. IDEXX Laboratories had a net margin of 24.65% and a return on equity of 67.78%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business posted $2.80 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. Analysts anticipate that IDEXX Laboratories will post 11.93 EPS for the current year.

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.