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

IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Rating) has been given an average rating of “Moderate Buy” by the eleven analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $473.13.

Several equities research analysts have commented on the stock. TheStreet raised shares of IDEXX Laboratories from a “c+” rating to a “b-” rating in a research report on Friday, November 25th. JPMorgan Chase & Co. dropped their target price on shares of IDEXX Laboratories from $525.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, October 17th. Morgan Stanley dropped their target price on shares of IDEXX Laboratories from $573.00 to $543.00 and set an “overweight” rating on the stock in a report on Tuesday, November 15th. Atlantic Securities dropped their target price on shares of IDEXX Laboratories from $490.00 to $470.00 and set an “overweight” rating on the stock in a report on Wednesday, November 2nd. Finally, StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 3rd.

IDEXX Laboratories Trading Up 1.5 %

Shares of NASDAQ:IDXX opened at $496.14 on Tuesday. The company’s 50-day moving average price is $429.97 and its two-hundred day moving average price is $387.22. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.89 and a quick ratio of 0.59. IDEXX Laboratories has a one year low of $317.06 and a one year high of $574.33. The stock has a market capitalization of $41.09 billion, a PE ratio of 63.04, a price-to-earnings-growth ratio of 3.00 and a beta of 1.18.

IDEXX Laboratories (NASDAQ:IDXX – Get Rating) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.04 by $0.11. IDEXX Laboratories had a net margin of 20.05% and a return on equity of 118.38%. The firm had revenue of $841.66 million for the quarter, compared to analysts’ expectations of $829.23 million. On average, equities analysts forecast that IDEXX Laboratories will post 7.89 EPS for the current fiscal year.

Insider Activity at IDEXX Laboratories

In related news, CEO Jonathan Jay Mazelsky sold 13,230 shares of the company’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $382.49, for a total value of $5,060,342.70. Following the transaction, the chief executive officer now owns 62,307 shares in the company, valued at approximately $23,831,804.43. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other IDEXX Laboratories news, SVP Kathy V. Turner sold 3,000 shares of the stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $436.00, for a total transaction of $1,308,000.00. Following the transaction, the senior vice president now owns 6,923 shares in the company, valued at approximately $3,018,428. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 13,230 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $382.49, for a total transaction of $5,060,342.70. Following the transaction, the chief executive officer now owns 62,307 shares in the company, valued at approximately $23,831,804.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,516 shares of company stock worth $12,541,681. Insiders own 2.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its position in shares of IDEXX Laboratories by 4.2% during the 3rd quarter. BlackRock Inc. now owns 8,792,300 shares of the company’s stock worth $2,864,533,000 after purchasing an additional 358,427 shares in the last quarter. State Street Corp grew its position in shares of IDEXX Laboratories by 3.6% during the 3rd quarter. State Street Corp now owns 3,784,353 shares of the company’s stock worth $1,232,942,000 after purchasing an additional 132,091 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of IDEXX Laboratories by 4.6% during the 3rd quarter. Alliancebernstein L.P. now owns 2,906,690 shares of the company’s stock worth $947,000,000 after purchasing an additional 128,011 shares in the last quarter. FMR LLC grew its position in shares of IDEXX Laboratories by 82.5% during the 2nd quarter. FMR LLC now owns 2,067,814 shares of the company’s stock worth $725,243,000 after purchasing an additional 934,829 shares in the last quarter. Finally, Brown Advisory Inc. grew its position in shares of IDEXX Laboratories by 16.4% during the 3rd quarter. Brown Advisory Inc. now owns 1,212,028 shares of the company’s stock worth $394,880,000 after purchasing an additional 170,834 shares in the last quarter. Institutional investors and hedge funds own 87.90% of the company’s stock.

IDEXX Laboratories Company Profile

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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.