Wall Street Zen Upgrades IDEXX Laboratories (NASDAQ:IDXX) to “Strong-Buy”

IDEXX Laboratories (NASDAQ:IDXX) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

A number of other research firms also recently commented on IDXX. Stifel Nicolaus set a $775.00 target price on shares of IDEXX Laboratories in a research report on Monday, November 3rd. Barclays decreased their price objective on shares of IDEXX Laboratories from $850.00 to $800.00 and set an “overweight” rating for the company in a research note on Thursday. BTIG Research dropped their price objective on IDEXX Laboratories from $830.00 to $800.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. UBS Group reduced their target price on IDEXX Laboratories from $750.00 to $730.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. Finally, Weiss Ratings cut IDEXX Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 29th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average target price of $777.78.

IDEXX Laboratories Trading Up 0.2%

NASDAQ:IDXX opened at $644.61 on Friday. IDEXX Laboratories has a 1 year low of $356.14 and a 1 year high of $769.98. The stock has a market cap of $51.47 billion, a P/E ratio of 49.32, a P/E/G ratio of 3.93 and a beta of 1.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.23. The stock has a 50-day simple moving average of $693.74 and a 200-day simple moving average of $665.85.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Monday, February 2nd. The company reported $3.08 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.15. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. IDEXX Laboratories had a return on equity of 69.78% and a net margin of 24.62%.The firm’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.53 earnings per share. IDEXX Laboratories has set its FY 2026 guidance at 14.290-14.800 EPS. As a group, analysts anticipate that IDEXX Laboratories will post 11.93 earnings per share for the current fiscal year.

Institutional Trading of IDEXX Laboratories

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of IDEXX Laboratories by 0.9% during the third quarter. Vanguard Group Inc. now owns 9,962,025 shares of the company’s stock worth $6,364,638,000 after purchasing an additional 86,040 shares during the last quarter. Elyxium Wealth LLC acquired a new position in IDEXX Laboratories in the 4th quarter valued at $3,666,459,000. Geode Capital Management LLC raised its position in IDEXX Laboratories by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,464,290 shares of the company’s stock worth $1,317,875,000 after buying an additional 54,402 shares during the last quarter. Bank of New York Mellon Corp raised its position in IDEXX Laboratories by 41.7% during 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 buying an additional 605,290 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of IDEXX Laboratories by 63,503.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,444,445 shares of the company’s stock worth $977,210,000 after acquiring an additional 1,442,174 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

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.