Citigroup Upgrades IDEXX Laboratories (NASDAQ:IDXX) to “Hold”

IDEXX Laboratories (NASDAQ:IDXX) was upgraded by research analysts at Citigroup to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities analysts have also commented on the stock. Wall Street Zen lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Barclays cut their target price on shares of IDEXX Laboratories from $850.00 to $800.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. Piper Sandler cut their price objective on IDEXX Laboratories from $775.00 to $750.00 and set a “neutral” rating on the stock in a research report on Monday, February 9th. Stifel Nicolaus decreased their price target on shares of IDEXX Laboratories from $775.00 to $675.00 and set a “buy” rating for the company in a research note on Tuesday, March 31st. Finally, UBS Group lowered their price objective on IDEXX Laboratories from $750.00 to $730.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $760.00.

IDEXX Laboratories Trading Up 3.3%

NASDAQ IDXX traded up $18.94 on Wednesday, hitting $588.89. The company’s stock had a trading volume of 43,993 shares, compared to its average volume of 506,451. The firm has a market cap of $46.78 billion, a PE ratio of 45.01, a PEG ratio of 3.53 and a beta of 1.72. The company has a quick ratio of 0.90, a current ratio of 1.23 and a debt-to-equity ratio of 0.23. IDEXX Laboratories has a 1-year low of $402.85 and a 1-year high of $769.98. The company’s 50-day moving average is $602.41 and its 200 day moving average is $655.14.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data 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. IDEXX Laboratories had a net margin of 24.62% and a return on equity of 69.78%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $2.53 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 14.3% compared to the same quarter last year. IDEXX Laboratories has set its FY 2026 guidance at 14.290-14.800 EPS. As a group, analysts predict that IDEXX Laboratories will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In related news, CEO Jonathan Jay Mazelsky sold 23,326 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $657.55, for a total transaction of $15,338,011.30. Following the completion of the transaction, the chief executive officer directly owned 83,606 shares of the company’s stock, valued at approximately $54,975,125.30. This trade represents a 21.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nimrata Hunt sold 1,758 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $634.57, for a total value of $1,115,574.06. Following the completion of the sale, the executive vice president directly owned 18,141 shares in the company, valued at approximately $11,511,734.37. The trade was a 8.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 45,957 shares of company stock worth $29,862,109. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. PKO Investment Management Joint Stock Co boosted its stake in IDEXX Laboratories by 6.5% in the first quarter. PKO Investment Management Joint Stock Co now owns 3,300 shares of the company’s stock valued at $1,854,000 after acquiring an additional 200 shares in the last quarter. Evolve Private Wealth LLC increased its holdings in shares of IDEXX Laboratories by 3.2% in the first quarter. Evolve Private Wealth LLC now owns 640 shares of the company’s stock valued at $360,000 after purchasing an additional 20 shares during the period. Sheets Smith Wealth Management raised its position in IDEXX Laboratories by 5.4% during the 1st quarter. Sheets Smith Wealth Management now owns 486 shares of the company’s stock worth $273,000 after buying an additional 25 shares during the last quarter. Triad Wealth Partners LLC raised its holdings in shares of IDEXX Laboratories by 3.1% during the first quarter. Triad Wealth Partners LLC now owns 600 shares of the company’s stock worth $337,000 after purchasing an additional 18 shares during the last quarter. Finally, Fortem Financial Group LLC lifted its position in IDEXX Laboratories by 22.6% during the first quarter. Fortem Financial Group LLC now owns 3,747 shares of the company’s stock valued at $2,105,000 after purchasing an additional 690 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

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.