IDEXX Laboratories, Inc. (NASDAQ:IDXX) Given Average Rating of “Moderate Buy” by Analysts

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $586.63.

A number of research firms recently issued reports on IDXX. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Morgan Stanley dropped their target price on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 14th. Stifel Nicolaus reduced their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Barclays lowered their price objective on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Finally, StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday, June 14th.

IDEXX Laboratories Stock Down 2.2 %

IDXX opened at $476.40 on Tuesday. The company has a fifty day moving average of $501.58 and a two-hundred day moving average of $526.59. The stock has a market capitalization of $39.35 billion, a price-to-earnings ratio of 46.12, a PEG ratio of 3.97 and a beta of 1.32. IDEXX Laboratories has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Wednesday, May 1st. The company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. The firm had revenue of $964.10 million for the quarter, compared to analysts’ expectations of $965.43 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. On average, research analysts expect that IDEXX Laboratories will post 11.03 earnings per share for the current year.

Insider Activity

In related news, Director Bruce L. Claflin sold 200 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $540.80, for a total transaction of $108,160.00. Following the transaction, the director now owns 161 shares in the company, valued at $87,068.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.18% of the company’s stock.

Hedge Funds Weigh In On IDEXX Laboratories

Institutional investors have recently bought and sold shares of the company. Patron Partners LLC grew its holdings in shares of IDEXX Laboratories by 2.7% during the 4th quarter. Patron Partners LLC now owns 765 shares of the company’s stock worth $425,000 after purchasing an additional 20 shares during the period. NewEdge Wealth LLC increased its position in shares of IDEXX Laboratories by 3.1% during the fourth quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock valued at $366,000 after acquiring an additional 20 shares during the last quarter. Manchester Capital Management LLC raised its stake in shares of IDEXX Laboratories by 11.9% in the 4th quarter. Manchester Capital Management LLC now owns 188 shares of the company’s stock valued at $104,000 after acquiring an additional 20 shares during the period. Phoenix Holdings Ltd. raised its stake in shares of IDEXX Laboratories by 2.8% in the 3rd quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock valued at $338,000 after acquiring an additional 21 shares during the period. Finally, BluePath Capital Management LLC lifted its holdings in shares of IDEXX Laboratories by 1.8% in the 4th quarter. BluePath Capital Management LLC now owns 1,197 shares of the company’s stock worth $663,000 after acquiring an additional 21 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.