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

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $546.00.

A number of research firms recently commented on IDXX. Stifel Nicolaus upped their price objective on IDEXX Laboratories from $460.00 to $510.00 and gave the company a “hold” rating in a report on Monday, May 19th. Wall Street Zen downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Leerink Partners upped their price objective on IDEXX Laboratories from $515.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, June 11th. Finally, Morgan Stanley raised their price target on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $528.77 on Tuesday. The company has a market cap of $42.52 billion, a P/E ratio of 49.56, a P/E/G ratio of 3.41 and a beta of 1.55. 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 12 month low of $356.14 and a 12 month high of $530.73. The business’s 50 day moving average is $476.46 and its two-hundred day moving average is $445.36.

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

Insider Transactions at IDEXX Laboratories

In related news, Director M Anne Szostak sold 1,046 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $513.74, for a total transaction of $537,372.04. Following the completion of the sale, the director now directly owns 262 shares of the company’s stock, valued at approximately $134,599.88. This trade represents a 79.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

Large investors have recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in IDEXX Laboratories during the first quarter valued at about $26,000. Hurley Capital LLC purchased a new position in shares of IDEXX Laboratories in the fourth quarter worth about $29,000. Rialto Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the fourth quarter worth about $30,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of IDEXX Laboratories by 55.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock worth $35,000 after buying an additional 30 shares during the period. Finally, Colonial Trust Co SC increased its holdings in shares of IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock worth $35,000 after buying an additional 39 shares during the period. 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.