IDEXX Laboratories falls after BofA cuts PT on vet visit trends
ReutersApr 21, 2025 5:58 PM
Animal diagnostics maker IDEXX Laboratories' IDXX.O shares down 1.2% at $406.41
BofA Global Research cuts PT to $475 from $535 on vet visit declines
The new PT represents a 30% upside to the stock's last close
"IDXX's direct leverage to clinic visit volumes creates a tough setup given the weak readings through Q1 and April so far" - BofA
Brokerage says vet visit trends "leave a little room for upside revisions"
IDXX expects about a 2% decline in clinical visits for 2025 - co said on a Q4 conference call
Eight of 14 brokerages rate the stock "buy" or higher, six "hold"; their median PT is $502.13 - LSEG
Including session's move, IDXX down 1.5% YTD
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