IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Rating) has been assigned an average rating of “Buy” from the ten ratings firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $663.67.
IDXX has been the subject of a number of analyst reports. Atlantic Securities initiated coverage on IDEXX Laboratories in a research report on Tuesday, February 8th. They issued an “overweight” rating and a $650.00 price target for the company. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research report on Wednesday, February 2nd. Finally, Bank of America lowered IDEXX Laboratories from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $550.00 to $470.00 in a research report on Thursday, May 5th.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Wealthspire Advisors LLC raised its stake in shares of IDEXX Laboratories by 38.8% in the third quarter. Wealthspire Advisors LLC now owns 1,652 shares of the company’s stock valued at $1,027,000 after acquiring an additional 462 shares in the last quarter. Robeco Schweiz AG raised its stake in IDEXX Laboratories by 19.2% in the fourth quarter. Robeco Schweiz AG now owns 5,869 shares of the company’s stock valued at $3,865,000 after buying an additional 946 shares in the last quarter. NS Partners Ltd raised its stake in IDEXX Laboratories by 0.8% in the fourth quarter. NS Partners Ltd now owns 37,850 shares of the company’s stock valued at $24,923,000 after buying an additional 304 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of IDEXX Laboratories by 13.3% during the fourth quarter. Raymond James Trust N.A. now owns 1,281 shares of the company’s stock worth $843,000 after purchasing an additional 150 shares during the last quarter. Finally, Aries Wealth Management grew its holdings in shares of IDEXX Laboratories by 600.0% during the fourth quarter. Aries Wealth Management now owns 7,000 shares of the company’s stock worth $4,609,000 after purchasing an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 84.92% of the company’s stock.
IDEXX Laboratories (NASDAQ:IDXX – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.02. The business had revenue of $836.55 million during the quarter, compared to analyst estimates of $836.47 million. IDEXX Laboratories had a return on equity of 103.70% and a net margin of 22.43%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.35 earnings per share. On average, equities research analysts expect that IDEXX Laboratories will post 8.24 EPS for the current year.
About IDEXX Laboratories (Get Rating)
IDEXX Laboratories, Inc develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through CAG; Water Quality Products; LPD; and Other segments. It provides point-of-care veterinary diagnostic products, including instruments, consumables, and rapid assay test kits; veterinary reference laboratory diagnostic and consulting services; practice management and diagnostic imaging systems and services for veterinarians; and health monitoring, biological materials testing, and laboratory animal diagnostic instruments and services for biomedical research community.
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