Brokerages Set IDEXX Laboratories, Inc. (NASDAQ:IDXX) Price Target at $763.50

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $763.50.

A number of equities analysts have commented on IDXX shares. Stifel Nicolaus set a $775.00 price objective on IDEXX Laboratories in a research note on Monday, November 3rd. Morgan Stanley boosted their price target on IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. BTIG Research increased their price objective on shares of IDEXX Laboratories from $785.00 to $830.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. boosted their target price on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Finally, Leerink Partners set a $785.00 price target on shares of IDEXX Laboratories in a research report on Monday, November 3rd.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $682.23 on Friday. IDEXX Laboratories has a one year low of $356.14 and a one year high of $769.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.18 and a quick ratio of 0.87. The firm has a market cap of $54.48 billion, a price-to-earnings ratio of 54.10, a P/E/G ratio of 3.58 and a beta of 1.67. The stock’s fifty day moving average price is $700.39 and its two-hundred day moving average price is $639.45.

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

Insider Activity

In other news, EVP Nimrata Hunt sold 9,425 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $703.34, for a total transaction of $6,628,979.50. Following the completion of the transaction, the executive vice president owned 21,149 shares of the company’s stock, valued at approximately $14,874,937.66. The trade was a 30.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

Hedge funds have recently made changes to their positions in the stock. Virtus Advisers LLC bought a new position in shares of IDEXX Laboratories during the third quarter valued at $26,000. J.Safra Asset Management Corp bought a new position in IDEXX Laboratories during the 3rd quarter worth $31,000. Armstrong Advisory Group Inc. raised its position in IDEXX Laboratories by 55.9% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock worth $34,000 after purchasing an additional 19 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in IDEXX Laboratories during the 2nd quarter worth about $29,000. Finally, Greykasell Wealth Strategies Inc. bought a new stake in shares of IDEXX Laboratories in the 3rd quarter valued at about $35,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Company Profile

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.