IDEXX Laboratories (NASDAQ:IDXX) Price Target Raised to $558.00 at Morgan Stanley

IDEXX Laboratories (NASDAQ:IDXX) had its target price increased by Morgan Stanley from $548.00 to $558.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also weighed in on IDXX. Piper Sandler increased their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Barclays raised their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, April 12th. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating for the company in a report on Monday, April 14th. Finally, Bank of America lifted their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $524.75.

IDEXX Laboratories Trading Up 0.7 %

IDXX stock opened at $475.07 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. IDEXX Laboratories has a twelve month low of $356.14 and a twelve month high of $548.88. The company has a market cap of $38.50 billion, a P/E ratio of 44.52, a PEG ratio of 3.41 and a beta of 1.50. The business has a fifty day moving average of $419.61 and a 200-day moving average of $428.18.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.03. The firm had revenue of $998.43 million for the quarter, compared to analysts’ expectations of $998.25 million. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $2.71 earnings per share. As a group, equities research analysts expect that IDEXX Laboratories will post 11.93 EPS for the current year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $462.53, for a total value of $4,618,824.58. Following the completion of the sale, the executive vice president now directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the transaction, the director now owns 3,061 shares in the company, valued at $1,426,242.34. The trade was a 49.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Several hedge funds have recently bought and sold shares of IDXX. United Capital Financial Advisors LLC boosted its holdings in IDEXX Laboratories by 0.9% during the 4th quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company’s stock worth $1,011,000 after acquiring an additional 22 shares during the last quarter. Sage Mountain Advisors LLC boosted its holdings in IDEXX Laboratories by 3.8% during the first quarter. Sage Mountain Advisors LLC now owns 635 shares of the company’s stock worth $267,000 after purchasing an additional 23 shares during the last quarter. PDS Planning Inc grew its position in IDEXX Laboratories by 3.9% in the 1st quarter. PDS Planning Inc now owns 641 shares of the company’s stock worth $269,000 after purchasing an additional 24 shares in the last quarter. Cranbrook Wealth Management LLC increased its stake in IDEXX Laboratories by 7.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after buying an additional 25 shares during the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of IDEXX Laboratories by 5.3% during the 4th quarter. Gabelli Funds LLC now owns 500 shares of the company’s stock worth $207,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

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 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.