IDEXX Laboratories Sees Unusually High Options Volume (NASDAQ:IDXX)

IDEXX Laboratories, Inc. (NASDAQ:IDXX) was the target of unusually large options trading on Friday. Traders bought 2,600 put options on the company. This represents an increase of 581% compared to the typical daily volume of 382 put options.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $420.91 on Friday. The business has a 50 day simple moving average of $469.35 and a 200 day simple moving average of $483.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The company has a market capitalization of $34.47 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 3.75 and a beta of 1.36. IDEXX Laboratories has a one year low of $404.74 and a one year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued 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. 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 analysts’ expectations of $980.32 million. During the same period last year, the business earned $2.53 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts forecast that IDEXX Laboratories will post 10.43 EPS for the current fiscal year.

Institutional Trading of IDEXX Laboratories

Several large investors have recently added to or reduced their stakes in IDXX. Crewe Advisors LLC acquired a new stake in shares of IDEXX Laboratories in the first quarter valued at $26,000. FSA Wealth Management LLC acquired a new stake in IDEXX Laboratories in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC bought a new position in shares of IDEXX Laboratories in the second quarter worth about $27,000. Institutional & Family Asset Management LLC acquired a new position in shares of IDEXX Laboratories during the second quarter worth approximately $28,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake 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 purchasing an additional 57 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IDXX shares. JPMorgan Chase & Co. cut their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target for the company. Barclays decreased their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, Stifel Nicolaus cut 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. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $552.38.

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.