IDEXX Laboratories (NASDAQ:IDXX) Now Covered by Analysts at Leerink Partners

Leerink Partners assumed coverage on shares of IDEXX Laboratories (NASDAQ:IDXX) in a research report report published on Monday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $500.00 price objective on the stock.

IDXX has been the subject of several other reports. Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Barclays dropped their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. decreased their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Finally, Piper Sandler reissued a “neutral” rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $546.56.

IDEXX Laboratories Stock Up 2.1 %

Shares of NASDAQ IDXX opened at $430.77 on Monday. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average of $451.91 and a 200-day moving average of $477.31. The firm has a market capitalization of $35.28 billion, a price-to-earnings ratio of 41.54, a PEG ratio of 3.68 and a beta of 1.36. IDEXX Laboratories has a 12 month low of $398.50 and a 12 month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.53 EPS. Sell-side analysts expect that IDEXX Laboratories will post 10.43 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now owns 905 shares of the company’s stock, valued at $380,498.20. The trade was a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of IDEXX Laboratories by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock valued at $1,138,732,000 after buying an additional 40,349 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of IDEXX Laboratories by 2.5% in the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after acquiring an additional 34,305 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of IDEXX Laboratories by 0.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company’s stock worth $379,875,000 after acquiring an additional 2,463 shares during the period. American Century Companies Inc. grew its position in shares of IDEXX Laboratories by 46.0% during the second quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after purchasing an additional 177,226 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in IDEXX Laboratories by 52,746.0% during the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock valued at $2,669,890,000 after purchasing an additional 527,460 shares during the period. 87.84% of the stock is currently owned by institutional investors.

About IDEXX Laboratories

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.