BTIG Research Drops Coverage on IDEXX Laboratories (NASDAQ:IDXX)

BTIG Research dropped coverage on shares of IDEXX Laboratories (NASDAQ:IDXX) in a research report sent to investors on Friday,Benzinga reports. The brokerage had previously set a “buy” rating on the stock.

IDXX has been the topic of a number of other reports. The Goldman Sachs Group began coverage on IDEXX Laboratories in a research report on Friday, October 16th. They set a “buy” rating and a $740.00 price target on the stock. Wall Street Zen cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Barclays cut their price objective on IDEXX Laboratories from $800.00 to $710.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Leerink Partners reduced their price objective on IDEXX Laboratories from $725.00 to $715.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Finally, KeyCorp assumed coverage on IDEXX Laboratories in a report on Monday, October 12th. They set a “sector weight” rating on the stock. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $721.67.

IDEXX Laboratories Trading Down 4.3%

Shares of IDXX stock opened at $551.21 on Friday. The company has a market capitalization of $43.42 billion, a P/E ratio of 38.76 and a beta of 1.55. IDEXX Laboratories has a 12-month low of $500.61 and a 12-month high of $769.98. The company has a quick ratio of 0.87, a current ratio of 1.17 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $534.27 and a 200 day moving average price of $574.09.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $4.27 earnings per share for the quarter, topping the consensus estimate of $3.94 by $0.33. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. IDEXX Laboratories had a net margin of 25.03% and a return on equity of 71.96%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.50 earnings per share. IDEXX Laboratories has set its FY 2026 guidance at 14.690-14.940 EPS. Research analysts forecast that IDEXX Laboratories will post 14.81 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director Lawrence D. Kingsley sold 2,203 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $532.08, for a total transaction of $1,172,172.24. Following the transaction, the director directly owned 9,568 shares in the company, valued at approximately $5,090,941.44. This represents a 18.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of IDEXX Laboratories

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new position in shares of IDEXX Laboratories in the 2nd quarter worth $628,223,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in IDEXX Laboratories by 4.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 911,489 shares of the company’s stock valued at $479,844,000 after purchasing an additional 39,700 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in IDEXX Laboratories by 52.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 838,839 shares of the company’s stock valued at $471,335,000 after purchasing an additional 288,471 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in IDEXX Laboratories by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 573,332 shares of the company’s stock valued at $322,145,000 after purchasing an additional 23,582 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in IDEXX Laboratories by 97.3% in the second quarter. Alyeska Investment Group L.P. now owns 401,082 shares of the company’s stock valued at $211,146,000 after buying an additional 197,808 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc (NASDAQ: IDXX) develops and provides diagnostic, information technology, and related products and services for the animal health and water testing markets. The company primarily serves veterinary practices, helping them diagnose and monitor diseases through laboratory tests, in-clinic analyzers, software, and digital practice-management solutions.

IDEXX’s companion animal offerings include hematology, chemistry, urinalysis, immunodiagnostics, and imaging-related products, along with reference laboratory services and veterinary software.