Brokerages Set IDEXX Laboratories, Inc. (NASDAQ:IDXX) PT at $656.50

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have received a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $656.50.

IDXX has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They set a “buy” rating and a $625.00 price objective for the company. UBS Group initiated coverage on shares of IDEXX Laboratories in a research report on Wednesday, October 1st. They set a “neutral” rating and a $720.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a research report on Monday, August 4th. Finally, BTIG Research upped their target price 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.

IDEXX Laboratories Price Performance

IDXX opened at $633.78 on Monday. The company has a 50-day moving average of $638.91 and a 200-day moving average of $554.07. The company has a market capitalization of $50.70 billion, a P/E ratio of 52.77, a PEG ratio of 4.12 and a beta of 1.58. IDEXX Laboratories has a 1-year low of $356.14 and a 1-year high of $688.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11.

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

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 29,260 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $631.98, for a total value of $18,491,734.80. Following the completion of the transaction, the chief executive officer owned 83,311 shares in the company, valued at approximately $52,650,885.78. This represents a 25.99% 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 Lane sold 8,411 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the completion of the transaction, the executive vice president owned 7,132 shares of the company’s stock, valued at approximately $4,477,041.68. This trade represents a 54.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,057 shares of company stock worth $34,293,468 in the last quarter. 0.98% of the stock is currently owned by corporate insiders.

Institutional Trading of IDEXX Laboratories

A number of institutional investors have recently made changes to their positions in the stock. STF Management LP lifted its stake in shares of IDEXX Laboratories by 1.3% in the 2nd quarter. STF Management LP now owns 1,240 shares of the company’s stock worth $665,000 after acquiring an additional 16 shares during the period. Clearstead Trust LLC lifted its stake in shares of IDEXX Laboratories by 1.1% in the 2nd quarter. Clearstead Trust LLC now owns 1,515 shares of the company’s stock worth $813,000 after acquiring an additional 16 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of IDEXX Laboratories by 4.4% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 380 shares of the company’s stock worth $243,000 after acquiring an additional 16 shares during the period. Moss Adams Wealth Advisors LLC lifted its stake in shares of IDEXX Laboratories by 3.3% in the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 528 shares of the company’s stock worth $337,000 after acquiring an additional 17 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its stake in shares of IDEXX Laboratories by 1.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 1,051 shares of the company’s stock worth $564,000 after acquiring an additional 18 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

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.