Stock Report: IDEXX Laboratories, Inc.
Publication Date: September 22, 2024
Company Overview
IDEXX Laboratories, Inc., based in Westbrook, Maine, has been a prominent player in the diagnostics and research industry since its inception in 1983. The company focuses on developing, manufacturing, and distributing innovative products for the companion animal veterinary, livestock, poultry, and water testing markets on a global scale. IDEXX operates through three primary segments: the Companion Animal Group, Water Quality Products, and Livestock, Poultry, and Dairy. With a comprehensive portfolio that includes point-of-care veterinary instruments and rapid assay test kits, IDEXX continues to be a leader in delivering critical diagnostic solutions for veterinarians and the biomedical research community.
Market Performance and Financial Health
Currently, IDEXX Laboratories has a total revenue of approximately $3.78 billion, reflecting a solid financial foundation and robust demand for its product offerings. The company’s stock is trading at $506.74, well above the fifty-day moving average of $484.07, suggesting a positive short-term trend. Analysts have a bull case with a target high price of $607.00 and a target mean price of $531.19, indicating a potential upside for investors. The stock has seen fluctuations over the past year, reaching a high of $583.39 and a low of $372.50. With 82,305,904 shares outstanding and only about 3.64% of shares shorted (2,332,541), market sentiment leans toward bullish. This combination of strong revenue performance and positive analyst sentiment supports a recommendation to buy.
Investment Outlook
The consensus from 11 analysts yields a mean recommendation score of 2.5, reflecting a generally favorable outlook for IDEXX Laboratories. Given the current stock price of $506.74 and its proximity to significant price targets, investors may find IDEXX an attractive investment opportunity. The potential for price appreciation exists within a range of $405.12 to $607.00. As the market landscape evolves, IDEXX’s innovative approaches and solid operational foundation position it for continuous growth, making it a worthy consideration for those looking to invest in the diagnostics and research sector.
| Metric | Value |
|---|---|
| Market Cap | $41.7b |
| Total Debt | $1.1b |
| Total Cash | $401.6m |
| Shares Outstanding | 82.3m |
| Float Shares | 81.4m |
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