BTIG Research has recently initiated IDEXX Laboratories, Inc. (IDXX) stock to Buy rating, as announced on July 25, 2024, according to Finviz. Earlier, on January 30, 2024, Piper Sandler had reduced the stock from a Overweight to Neutral, setting a price target of $525. Exane BNP Paribas also initiated Outperform rating with a price target of $602. Additionally, Cleveland Research raised Buy rating on December 4, 2023. Atlantic Equities analysts, in their report published on August 2, 2023, also reduced Neutral rating and set a price target of $610 for IDEXX Laboratories, Inc.’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
IDEXX Laboratories, Inc. (IDXX) Stock Trading Recap
On Thursday, IDEXX Laboratories, Inc. (IDXX) stock saw a decline, ending the day at $406.92 which represents a decrease of $-44.16 or -9.79% from the prior close of $451.08. The stock opened at $430 and touched a low of $404.74 during the day, reaching a high of $430. The volume of shares traded was 2.01 million exceeding the average volume of 0.48 million.
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IDXX Stock Performance and Moving Averages
In recent trading, IDEXX Laboratories, Inc. (IDXX) stock price has shown some volatility, fluctuating -10.03% over the last five trades and -16.27% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -14.48%, and it has plunged by -13.17% in the previous three months. Currently, IDXX is trading at -11.68%, -15.29%, and -19.26% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, IDXX, a Healthcare sector stock, is trading -30.25% below its 52-week high but remains 9.24% above its 52-week low. The Average True Range (ATR) (14 days) of 12.98 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
IDEXX Laboratories, Inc.’s Profitability and Valuation Ratios
IDEXX Laboratories, Inc.’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 28.61% and a profit margin of 22.34%, with a gross margin of -14.48%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, IDEXX Laboratories, Inc.’s market capitalization stands at $33.49 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 40.34, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 33.46. Additionally, the Price-to-Sales Ratio is 8.85, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 21.24, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 1.07% of IDEXX Laboratories, Inc. (IDXX)’s shares, while financial institutions hold 93.07%.
Notable insider trades include SZOSTAK M ANNE, Director at IDEXX Laboratories, Inc. (IDXX), who sold 500 shares on Sep 06 ’24, at $469.37 each, totaling $0.23 million. On May 17 ’24, Claflin Bruce L., Director, sold 200 shares for $540.8 each, amounting to $0.11 million. Additionally, on Mar 06 ’24, POLEWACZYK JAMES F sold 8104 shares at $558.44 each, generating $4.53 million.
