IDEXX Laboratories (NASDAQ:IDXX) Upgraded at Stifel Nicolaus

Stifel Nicolaus upgraded shares of IDEXX Laboratories (NASDAQ:IDXX) from a hold rating to a buy rating in a research note released on Friday morning, Marketbeat.com reports. They currently have $700.00 price objective on the stock, up from their previous price objective of $640.00.

A number of other analysts have also issued reports on IDXX. BTIG Research lifted their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. UBS Group started coverage on IDEXX Laboratories in a research report on Wednesday, October 1st. They set a “neutral” rating and a $720.00 target price on the stock. Wall Street Zen lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 28th. Morgan Stanley lifted their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the stock an “overweight” rating in a research report on Friday, August 15th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of IDEXX Laboratories in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $662.50.

IDEXX Laboratories Trading Up 0.2%

Shares of IDXX opened at $629.51 on Friday. The stock has a fifty day moving average of $637.89 and a two-hundred day moving average of $569.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. The company has a market capitalization of $50.36 billion, a PE ratio of 52.42, a price-to-earnings-growth ratio of 4.06 and a beta of 1.58. IDEXX Laboratories has a fifty-two week low of $356.14 and a fifty-two week high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm posted $2.44 EPS. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, analysts forecast that IDEXX Laboratories will post 11.93 EPS for the current year.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Nimrata Hunt sold 1,200 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $656.53, for a total transaction of $787,836.00. Following the transaction, the executive vice president directly owned 16,807 shares of the company’s stock, valued at $11,034,299.71. This represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Lane sold 8,411 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the sale, the executive vice president owned 7,132 shares of the company’s stock, valued at $4,477,041.68. This trade represents a 54.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 54,057 shares of company stock worth $34,293,468. Insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IDXX. Opal Wealth Advisors LLC bought a new position in IDEXX Laboratories in the 2nd quarter valued at $29,000. WealthCollab LLC bought a new position in IDEXX Laboratories in the 2nd quarter valued at $30,000. J.Safra Asset Management Corp bought a new position in IDEXX Laboratories in the 3rd quarter valued at $31,000. Armstrong Advisory Group Inc. raised its position in IDEXX Laboratories by 55.9% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 53 shares of the company’s stock valued at $34,000 after purchasing an additional 19 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in IDEXX Laboratories by 55.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock valued at $35,000 after purchasing an additional 30 shares during the last quarter. Institutional investors 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.