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

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $591.50.

IDXX has been the subject of several research reports. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, December 20th. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Piper Sandler downgraded shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price on the stock. in a research report on Tuesday, January 30th. The Goldman Sachs Group upped their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. lifted their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th.

IDEXX Laboratories Trading Down 2.3 %

Shares of IDXX opened at $478.24 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. IDEXX Laboratories has a 52-week low of $372.50 and a 52-week high of $583.39. The firm has a market cap of $39.72 billion, a price-to-earnings ratio of 47.49, a PEG ratio of 3.78 and a beta of 1.26. The business’s fifty day moving average is $541.86 and its 200-day moving average is $508.71.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Monday, February 5th. The company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. The firm had revenue of $901.60 million during the quarter, compared to analysts’ expectations of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 earnings per share. Equities analysts anticipate that IDEXX Laboratories will post 11.15 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In related news, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the sale, the senior vice president now owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the transaction, the chief executive officer now owns 79,247 shares in the company, valued at $45,377,624.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the sale, the senior vice president now owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,524 shares of company stock valued at $24,871,960. Corporate insiders own 2.18% of the company’s stock.

Institutional Trading of IDEXX Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of IDXX. Panagora Asset Management Inc. increased its stake in shares of IDEXX Laboratories by 50.3% during the 1st quarter. Panagora Asset Management Inc. now owns 3,232 shares of the company’s stock worth $1,768,000 after purchasing an additional 1,081 shares during the last quarter. Raymond James Trust N.A. grew its stake in IDEXX Laboratories by 26.8% during the first quarter. Raymond James Trust N.A. now owns 1,624 shares of the company’s stock valued at $888,000 after acquiring an additional 343 shares in the last quarter. Cetera Investment Advisers increased its holdings in IDEXX Laboratories by 77.1% during the 1st quarter. Cetera Investment Advisers now owns 3,675 shares of the company’s stock worth $2,010,000 after acquiring an additional 1,600 shares during the period. Moors & Cabot Inc. lifted its stake in IDEXX Laboratories by 3.0% in the 1st quarter. Moors & Cabot Inc. now owns 1,757 shares of the company’s stock worth $961,000 after purchasing an additional 52 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in IDEXX Laboratories by 15.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 992 shares of the company’s stock valued at $543,000 after purchasing an additional 134 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

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.