IDEXX Laboratories (NASDAQ:IDXX) Earns “Buy (B-)” Rating from Weiss Ratings

IDEXX Laboratories (NASDAQ:IDXX)‘s stock had its “buy (b-)” rating restated by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other analysts also recently commented on the company. Jefferies Financial Group started coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a “buy” rating and a $625.00 target price on the stock. Piper Sandler restated a “neutral” rating and issued a $700.00 price objective (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. JPMorgan Chase & Co. upped their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Leerink Partners upped their target price 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, BTIG Research upped their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $656.50.

IDEXX Laboratories Stock Up 0.4%

Shares of IDXX opened at $629.91 on Wednesday. IDEXX Laboratories has a 52 week low of $356.14 and a 52 week high of $688.12. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $50.40 billion, a price-to-earnings ratio of 52.45, a PEG ratio of 4.06 and a beta of 1.58. The stock’s 50-day moving average price is $637.99 and its 200-day moving average price is $539.07.

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

Insiders Place Their Bets

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 transaction, the director owned 262 shares in the company, valued at $169,600.46. This trade represents a 89.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sharon E. Underberg sold 5,450 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $651.60, for a total value of $3,551,220.00. Following the completion of the transaction, the executive vice president owned 6,156 shares in the company, valued at approximately $4,011,249.60. This trade represents a 46.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,057 shares of company stock valued at $34,293,468. 0.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IDEXX Laboratories

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Armstrong Advisory Group Inc. lifted its position in shares of IDEXX Laboratories by 55.9% in the third quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock valued at $34,000 after acquiring an additional 19 shares in the last quarter. Wedmont Private Capital boosted its stake in IDEXX Laboratories by 1.8% during the third quarter. Wedmont Private Capital now owns 2,940 shares of the company’s stock worth $1,844,000 after buying an additional 51 shares during the last quarter. Czech National Bank grew its holdings in IDEXX Laboratories by 3.4% in the 3rd quarter. Czech National Bank now owns 20,320 shares of the company’s stock valued at $12,982,000 after buying an additional 663 shares in the last quarter. TruWealth Advisors LLC purchased a new stake in IDEXX Laboratories in the 3rd quarter valued at $235,000. Finally, HCR Wealth Advisors purchased a new stake in IDEXX Laboratories in the 3rd quarter valued at $229,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Company Profile

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.