Key Points
- EVP Michael Lane sold 3,979 IDEXX shares for about $2.74 million at an average price of $688.64, reducing his holdings by 49.4% to 4,076 shares.
- IDEXX’s latest quarter beat expectations: earnings were $3.96 per share versus $3.71 forecast, while revenue of $1.21 billion exceeded estimates and rose 9.9% year over year.
- Analysts maintain a “Moderate Buy” consensus with a $719.55 average price target, though some have flagged valuation concerns; the stock was down 4% in Friday trading.
IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) Director Daniel Junius sold 1,200 shares of the company's stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $704.07, for a total transaction of $844,884.00. Following the completion of the sale, the director directly owned 2,361 shares in the company, valued at $1,662,309.27. This represents a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
IDEXX Laboratories Stock Down 4.0%
Shares of IDEXX Laboratories stock opened at $670.71 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.19 and a quick ratio of 0.87. The company has a 50-day moving average of $544.13 and a 200 day moving average of $573.40. The firm has a market cap of $52.84 billion, a price-to-earnings ratio of 45.23 and a beta of 1.55. IDEXX Laboratories, Inc. has a 1 year low of $500.61 and a 1 year high of $769.98.
IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The company reported $3.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.71 by $0.25. IDEXX Laboratories had a net margin of 25.36% and a return on equity of 71.04%. The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period last year, the company posted $3.22 EPS. IDEXX Laboratories's revenue was up 9.9% on a year-over-year basis. As a group, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 15.05 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on IDXX shares. The Goldman Sachs Group started coverage on shares of IDEXX Laboratories in a report on Friday, October 16th. They set a "buy" rating and a $740.00 target price for the company. KeyCorp began coverage on IDEXX Laboratories in a research note on Monday, October 12th. They issued a "sector weight" rating on the stock. UBS Group upped their price target on IDEXX Laboratories from $627.00 to $700.00 and gave the stock a "neutral" rating in a research note on Tuesday. Barclays reduced their price objective on IDEXX Laboratories from $800.00 to $710.00 and set an "overweight" rating for the company in a research report on Tuesday, August 11th. Finally, Leerink Partners lowered their price objective on IDEXX Laboratories from $725.00 to $715.00 and set an "outperform" rating for the company in a research note on Monday, July 13th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $719.55.
Get Our Latest Research Report on IDXX
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in IDEXX Laboratories in the 2nd quarter worth approximately $628,223,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in IDEXX Laboratories by 4.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 911,489 shares of the company's stock valued at $479,844,000 after acquiring an additional 39,700 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in IDEXX Laboratories by 52.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 838,839 shares of the company's stock valued at $471,335,000 after purchasing an additional 288,471 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in IDEXX Laboratories by 4.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 573,332 shares of the company's stock valued at $322,145,000 after purchasing an additional 23,582 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its holdings in shares of IDEXX Laboratories by 97.3% in the 2nd quarter. Alyeska Investment Group L.P. now owns 401,082 shares of the company's stock worth $211,146,000 after purchasing an additional 197,808 shares in the last quarter. Institutional investors own 87.84% of the company's stock.
More IDEXX Laboratories News
Here are the key news stories impacting IDEXX Laboratories this week:
- Positive Sentiment: Morgan Stanley raised its price target on IDEXX, a potentially supportive analyst signal; the report provided here does not specify the new target. Morgan Stanley price target report
- Positive Sentiment: IDEXX’s Q3 results were described as best-in-class. The company reported EPS of $3.96, above the $3.71 consensus, and revenue of $1.21 billion, ahead of estimates and up 9.9% year over year. IDEXX Q3 results analysis
- Negative Sentiment: A Seeking Alpha article downgraded the stock, arguing that despite IDEXX’s strong business, its shares are too expensive. Valuation concerns may limit investor appetite. IDEXX valuation downgrade
- Negative Sentiment: Four directors and executives reported selling a combined 39,225 shares on November 4, worth about $27.4 million. Each reduced their reported holdings, a potential near-term sentiment headwind, though insider sales alone do not establish the reason for selling. Read More., Read More., Read More., Read More..
IDEXX Laboratories Company Profile
(
Get Free Report)
IDEXX Laboratories, Inc (NASDAQ: IDXX) develops and provides diagnostic, information technology, and related products and services for the animal health and water testing markets. The company primarily serves veterinary practices, helping them diagnose and monitor diseases through laboratory tests, in-clinic analyzers, software, and digital practice-management solutions.
IDEXX's companion animal offerings include hematology, chemistry, urinalysis, immunodiagnostics, and imaging-related products, along with reference laboratory services and veterinary software.
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