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Investing.com - Stifel has increased its price target on IDEXX Laboratories (NASDAQ:IDXX) to $540.00 from $510.00 while maintaining a Hold rating on the stock. Currently trading at $542.65, IDEXX is approaching its 52-week high of $546.39, with a market capitalization of $43.6 billion. According to InvestingPro, the company maintains a "GREAT" overall financial health score.
The research firm noted that IDEXX’s first-quarter 2025 revenue was essentially in-line with expectations, while adjusted earnings per share of $2.88 modestly exceeded Stifel’s estimate of $2.85, which helped drive a 10%+ rally in the stock. The company’s strong performance is reflected in its impressive 32.7% price return over the past six months.
For the second quarter of 2025, Stifel projects Companion Animal Group (CAG) diagnostic recurring revenue growth of 6.0%, slightly above the Street’s estimate of 5.7%, and believes in-line revenue could again lead to modest earnings upside.
The firm also highlighted that IDEXX conservatively marked the USD/Euro exchange rate at 1.08, providing additional flexibility for earnings performance in the quarter.
Despite the positive outlook, Stifel maintained its Hold rating, citing IDEXX’s elevated valuation following its recent rally, with the stock now trading at 41.6x next-twelve-months earnings compared to 33.8x three months ago, and expressing the need for greater conviction that new product cycles can accelerate IDEXX’s growth rate to justify the premium.
In other recent news, IDEXX Laboratories reported its first-quarter 2025 earnings, which surpassed analyst expectations with an earnings per share (EPS) of $2.96, beating the forecast of $2.86. Revenue for the quarter was $998.43 million, slightly below the anticipated $1 billion. Jefferies initiated coverage on IDEXX Laboratories with a Buy rating and a $625.00 price target, highlighting the company’s leadership in veterinary diagnostics. Leerink Partners maintained an Outperform rating on the stock and raised its price target to $580.00, citing the successful launch of the InVue Dx diagnostic console as a key growth driver. BTIG also increased its price target for IDEXX to $545, noting a 9% year-over-year growth in high-margin consumables and software segments. IDEXX’s gross and operating margins improved, with gross margins at 62.4% and operating margins at 31.7%. The company updated its revenue and EPS guidance for 2025, reflecting confidence in its growth trajectory despite macroeconomic pressures. Analysts from Jefferies and Leerink Partners expressed optimism about IDEXX’s future growth, driven by product innovations and a stable pet population.
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