IDEXX Laboratories (NASDAQ:IDXX) Stock Gets Price Target Cut from JPMorgan Chase & Co.

IDEXX Laboratories (NASDAQ:IDXX) had its price target dropped by analysts at JPMorgan Chase & Co. from $775.00 to $750.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 33.20% from the stock’s previous close.

A number of other analysts also recently issued reports on IDXX. Citigroup raised their price target on IDEXX Laboratories from $650.00 to $670.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Wall Street Zen downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Barclays reduced their target price on shares of IDEXX Laboratories from $800.00 to $710.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. The Goldman Sachs Group assumed coverage on shares of IDEXX Laboratories in a research note on Friday. They issued a “buy” rating and a $740.00 price objective for the company. Finally, Weiss Ratings upgraded IDEXX Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $744.09.

IDEXX Laboratories Trading Up 2.9%

IDXX traded up $15.88 on Friday, hitting $563.06. The company had a trading volume of 217,941 shares, compared to its average volume of 568,195. The company has a market cap of $44.36 billion, a PE ratio of 39.77, a PEG ratio of 2.83 and a beta of 1.55. IDEXX Laboratories has a 12-month low of $500.61 and a 12-month high of $769.98. 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 business’s fifty day simple moving average is $534.75 and its 200 day simple moving average is $551.78.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.94 by $0.33. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. IDEXX Laboratories had a return on equity of 71.96% and a net margin of 25.03%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.50 earnings per share. IDEXX Laboratories has set its FY 2026 guidance at 14.690-14.940 EPS. Equities research analysts expect that IDEXX Laboratories will post 14.80 EPS for the current year.

Insider Buying and Selling

In other IDEXX Laboratories news, Director Lawrence D. Kingsley sold 2,203 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $532.08, for a total value of $1,172,172.24. Following the transaction, the director directly owned 9,568 shares in the company, valued at $5,090,941.44. This represents a 18.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IDXX. Bank of New York Mellon Corp purchased a new stake in shares of IDEXX Laboratories in the 2nd quarter worth $628,223,000. Arrowstreet Capital Limited Partnership grew its position in shares of IDEXX Laboratories by 52.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 838,839 shares of the company’s stock worth $471,335,000 after buying an additional 288,471 shares in the last quarter. Alyeska Investment Group L.P. grew its position in shares of IDEXX Laboratories by 97.3% during the 2nd quarter. Alyeska Investment Group L.P. now owns 401,082 shares of the company’s stock worth $211,146,000 after buying an additional 197,808 shares in the last quarter. Montrusco Bolton Investments Inc. raised its holdings in shares of IDEXX Laboratories by 93.4% in the first quarter. Montrusco Bolton Investments Inc. now owns 342,120 shares of the company’s stock valued at $186,707,000 after acquiring an additional 165,188 shares in the last quarter. Finally, American Capital Management Inc. bought a new position in IDEXX Laboratories during the 2nd quarter worth about $85,341,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

About IDEXX Laboratories

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.