IDEXX Laboratories (NASDAQ:IDXX) Given New $570.00 Price Target at Barclays

IDEXX Laboratories (NASDAQ:IDXX) had its price objective cut by Barclays from $655.00 to $570.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also recently commented on IDXX. Piper Sandler cut shares of IDEXX Laboratories from an overweight rating to a neutral rating and set a $525.00 price target on the stock. in a research report on Tuesday, January 30th. William Blair reiterated an outperform rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an overweight rating in a research report on Tuesday, February 6th. Finally, The Goldman Sachs Group lifted their price objective on IDEXX Laboratories from $500.00 to $650.00 and gave the stock a buy rating in a report on Wednesday, January 17th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $580.88.

IDEXX Laboratories Stock Up 1.0 %

IDXX opened at $480.60 on Thursday. The business’s fifty day simple moving average is $523.29 and its 200 day simple moving average is $513.58. IDEXX Laboratories has a 52 week low of $372.50 and a 52 week high of $583.39. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. The stock has a market cap of $39.69 billion, a PE ratio of 46.52, a P/E/G ratio of 3.78 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, February 5th. The company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.12 by $0.20. The firm had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.05 EPS. As a group, research analysts expect that IDEXX Laboratories will post 11.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’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 transaction of $6,871,320.00. Following the completion of the transaction, the chief executive officer now owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The transaction was disclosed in a 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 business’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 transaction of $6,871,320.00. Following the transaction, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the completion of the transaction, the chief financial officer now owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The disclosure for this sale can be found here. Insiders have sold 43,524 shares of company stock valued at $24,871,960 over the last ninety days. 2.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. McClarren Financial Advisors Inc. lifted its stake in shares of IDEXX Laboratories by 191.9% in the 1st quarter. McClarren Financial Advisors Inc. now owns 540 shares of the company’s stock valued at $292,000 after purchasing an additional 355 shares during the period. Csenge Advisory Group lifted its position in IDEXX Laboratories by 21.4% during the first quarter. Csenge Advisory Group now owns 943 shares of the company’s stock valued at $509,000 after buying an additional 166 shares during the period. TFB Advisors LLC bought a new stake in shares of IDEXX Laboratories during the 1st quarter valued at $294,000. Mediolanum International Funds Ltd purchased a new stake in shares of IDEXX Laboratories in the 1st quarter worth about $10,092,000. Finally, Rehmann Capital Advisory Group increased its stake in shares of IDEXX Laboratories by 3.1% in the 1st quarter. Rehmann Capital Advisory Group now owns 985 shares of the company’s stock worth $532,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

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.