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

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $523.86.

Several research firms have issued reports on IDXX. Piper Sandler restated a “neutral” rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Leerink Partners began coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price for the company. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th.

IDEXX Laboratories Trading Up 0.7 %

NASDAQ IDXX opened at $435.33 on Friday. The stock has a market cap of $35.65 billion, a P/E ratio of 41.98, a PEG ratio of 3.63 and a beta of 1.36. The company’s fifty day simple moving average is $423.45 and its 200-day simple moving average is $456.68. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. IDEXX Laboratories has a 52 week low of $398.50 and a 52 week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The firm had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.53 EPS. Equities research analysts predict that IDEXX Laboratories will post 10.44 EPS for the current fiscal year.

Insider Activity

In other news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the sale, the director now owns 905 shares in the company, valued at $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On IDEXX Laboratories

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of IDEXX Laboratories by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock worth $1,138,732,000 after acquiring an additional 40,349 shares during the last quarter. Franklin Resources Inc. increased its position in IDEXX Laboratories by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after purchasing an additional 34,305 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of IDEXX Laboratories by 0.3% during the 3rd 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 purchasing an additional 2,463 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of 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 buying an additional 527,460 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of IDEXX Laboratories by 265.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock valued at $179,867,000 after buying an additional 316,048 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

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.