IDEXX Laboratories (NASDAQ:IDXX) Price Target Raised to $670.00

IDEXX Laboratories (NASDAQ:IDXX) had its target price lifted by UBS Group from $620.00 to $670.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

IDXX has been the topic of several other reports. Weiss Ratings raised shares of IDEXX Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 29th. Wall Street Zen cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Citigroup upped their target price on IDEXX Laboratories from $650.00 to $670.00 and gave the stock a “neutral” rating in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $756.00.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $586.67 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.19. IDEXX Laboratories has a 12 month low of $518.55 and a 12 month high of $769.98. The company has a 50 day simple moving average of $559.73 and a two-hundred day simple moving average of $585.79. The stock has a market cap of $46.22 billion, a price-to-earnings ratio of 41.26, a PEG ratio of 3.20 and a beta of 1.54.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Tuesday, August 4th. The company reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.94 by $0.33. IDEXX Laboratories had a net margin of 25.03% and a return on equity of 71.96%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business earned $3.50 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. IDEXX Laboratories has set its FY 2026 guidance at 14.690-14.940 EPS. As a group, analysts predict that IDEXX Laboratories will post 14.82 earnings per share for the current year.

Institutional Trading of IDEXX Laboratories

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI purchased a new position in IDEXX Laboratories in the second quarter valued at $341,000. Plato Investment Management Ltd purchased a new stake in shares of IDEXX Laboratories during the 2nd quarter worth about $1,484,000. J.Safra Asset Management Corp purchased a new stake in shares of IDEXX Laboratories during the 2nd quarter worth about $25,000. Bank of New York Mellon Corp acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at about $628,223,000. Finally, S&CO Inc. acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at about $263,000. Institutional investors and hedge funds 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.