Analysts Set IDEXX Laboratories, Inc. (NASDAQ:IDXX) Target Price at $523.86

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $523.86.

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Piper Sandler restated a “neutral” rating and set a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Stifel Nicolaus lowered their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Finally, Leerink Partners began coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price on the stock.

IDEXX Laboratories Stock Down 2.2 %

IDXX stock opened at $419.26 on Friday. The stock has a market capitalization of $34.33 billion, a P/E ratio of 40.43, a P/E/G ratio of 3.52 and a beta of 1.36. IDEXX Laboratories has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The business has a 50-day moving average of $423.60 and a 200-day moving average of $457.86. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The company had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the firm posted $2.53 earnings per share. On average, sell-side analysts anticipate that IDEXX Laboratories will post 10.44 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the transaction, the director now owns 905 shares in the company, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. FSA Wealth Management LLC bought a new position in IDEXX Laboratories in the 3rd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of IDEXX Laboratories by 5,700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after buying an additional 57 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased its stake in IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares during the period. Ashton Thomas Securities LLC purchased a new stake in IDEXX Laboratories in the 3rd quarter valued at about $37,000. Finally, Retirement Wealth Solutions LLC purchased a new position in IDEXX Laboratories during the 4th quarter worth $31,000. 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.