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

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have earned an average rating of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $548.14.

A number of research analysts have issued reports on the company. Atlantic Securities cut IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $610.00 target price on the stock. in a research report on Wednesday, August 2nd. JPMorgan Chase & Co. reduced their price target on IDEXX Laboratories from $600.00 to $550.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. StockNews.com initiated coverage on IDEXX Laboratories in a report on Thursday, October 5th. They set a “buy” rating on the stock. Morgan Stanley boosted their price target on IDEXX Laboratories from $590.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. Finally, Stifel Nicolaus reduced their price target on IDEXX Laboratories from $500.00 to $460.00 and set a “hold” rating on the stock in a report on Monday, October 30th.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $463.69 on Monday. IDEXX Laboratories has a 12-month low of $372.50 and a 12-month high of $564.73. The company has a quick ratio of 1.02, a current ratio of 1.43 and a debt-to-equity ratio of 0.48. The business’s 50-day moving average price is $434.64 and its two-hundred day moving average price is $475.01. The stock has a market cap of $38.51 billion, a PE ratio of 47.32, a P/E/G ratio of 2.60 and a beta of 1.21.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Wednesday, November 1st. The company reported $2.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.16. IDEXX Laboratories had a return on equity of 85.68% and a net margin of 22.93%. The firm had revenue of $915.53 million for the quarter, compared to analysts’ expectations of $926.88 million. During the same quarter in the previous year, the business posted $2.15 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, analysts expect that IDEXX Laboratories will post 9.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IDEXX Laboratories news, EVP James F. Polewaczyk sold 22,909 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $510.56, for a total value of $11,696,419.04. Following the transaction, the executive vice president now directly owns 10,038 shares of the company’s stock, valued at $5,125,001.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other IDEXX Laboratories news, EVP James F. Polewaczyk sold 22,909 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $510.56, for a total value of $11,696,419.04. Following the transaction, the executive vice president now directly owns 10,038 shares of the company’s stock, valued at $5,125,001.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jonathan Jay Mazelsky sold 13,424 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $512.01, for a total value of $6,873,222.24. Following the transaction, the chief executive officer now directly owns 72,925 shares in the company, valued at $37,338,329.25. The disclosure for this sale can be found here. 2.11% of the stock is owned by insiders.

Hedge Funds Weigh In On IDEXX Laboratories

A number of institutional investors have recently modified their holdings of the company. Avalon Trust Co bought a new stake in IDEXX Laboratories during the first quarter worth $25,000. Arlington Partners LLC grew its holdings in IDEXX Laboratories by 233.3% during the second quarter. Arlington Partners LLC now owns 50 shares of the company’s stock worth $25,000 after buying an additional 35 shares in the last quarter. OFI Invest Asset Management bought a new stake in IDEXX Laboratories during the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in IDEXX Laboratories during the third quarter worth $26,000. Finally, Altshuler Shaham Ltd bought a new stake in IDEXX Laboratories during the fourth quarter worth $26,000. 86.85% of the stock is owned by institutional investors and hedge funds.

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 worldwide. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.