IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives Average Recommendation of “Moderate Buy” from Brokerages

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $539.63.

Several research analysts have commented on the company. Piper Sandler reissued a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Stifel Nicolaus reduced their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Barclays cut their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th.

Insider Transactions at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of the 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 transaction, the director now directly owns 905 shares of the company’s stock, valued at $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.11% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Several large investors have recently made changes to their positions in the company. FSA Wealth Management LLC bought a new position in IDEXX Laboratories in the third quarter worth approximately $25,000. Ridgewood Investments LLC bought a new position in shares of IDEXX Laboratories in the 2nd quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. grew its position in IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after purchasing an additional 57 shares during the period. Mowery & Schoenfeld Wealth Management LLC grew its position in IDEXX Laboratories by 750.0% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after purchasing an additional 60 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in IDEXX Laboratories during the 2nd quarter valued at $36,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Up 0.2 %

Shares of IDEXX Laboratories stock opened at $413.16 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $33.83 billion, a price-to-earnings ratio of 39.84, a PEG ratio of 3.99 and a beta of 1.37. The firm’s 50-day moving average price is $433.90 and its two-hundred day moving average price is $468.66. 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 the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The firm had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same period in the prior year, the company earned $2.53 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts forecast that IDEXX Laboratories will post 10.44 earnings per share for the current fiscal year.

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.