The Goldman Sachs Group Initiates Coverage on IDEXX Laboratories (NASDAQ:IDXX)

Analysts at The Goldman Sachs Group started coverage on shares of IDEXX Laboratories (NASDAQ:IDXX) in a report issued on Friday, Marketbeat.com reports. The brokerage set a “buy” rating and a $740.00 price target on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 32.06% from the company’s current price.

IDXX has been the topic of several other research reports. Citigroup lifted their target price on shares of IDEXX Laboratories from $650.00 to $670.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. KeyCorp assumed coverage on shares of IDEXX Laboratories in a research report on Monday, October 12th. They issued a “sector weight” rating for the company. Weiss Ratings upgraded shares of IDEXX Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. decreased their price target on shares of IDEXX Laboratories from $775.00 to $750.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Wall Street Zen lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $744.09.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX traded up $13.18 during midday trading on Friday, hitting $560.36. The stock had a trading volume of 708,811 shares, compared to its average volume of 531,547. 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 stock has a 50 day simple moving average of $534.22 and a 200-day simple moving average of $551.84. The company has a market capitalization of $44.15 billion, a PE ratio of 39.41, a P/E/G ratio of 2.92 and a beta of 1.55. IDEXX Laboratories has a 1 year low of $500.61 and a 1 year high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $4.27 EPS for the quarter, topping the consensus estimate of $3.94 by $0.33. IDEXX Laboratories had a return on equity of 71.96% and a net margin of 25.03%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the business earned $3.50 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. IDEXX Laboratories has set its FY 2026 guidance at 14.690-14.940 EPS. On average, sell-side analysts expect that IDEXX Laboratories will post 14.80 EPS for the current fiscal year.

Insider Activity

In related news, Director Lawrence D. Kingsley sold 2,203 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director directly owned 9,568 shares in the company, valued at approximately $5,090,941.44. This trade represents a 18.72% decrease in their ownership of the stock. The transaction 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.

Hedge Funds Weigh In On IDEXX Laboratories

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

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc (NASDAQ: IDXX) develops and provides diagnostic, information technology and water-testing products and services. The company primarily serves the companion animal veterinary market, helping veterinary practices diagnose and manage diseases through laboratory testing, in-house analyzers, diagnostic kits, imaging systems, software and related consumables.

IDEXX’s companion animal offerings include its IDEXX Reference Laboratories, IDEXX VetLab instruments and software, SNAP rapid tests, and practice-management and data solutions.