Stifel Nicolaus Lowers IDEXX Laboratories (NASDAQ:IDXX) Price Target to $510.00

IDEXX Laboratories (NASDAQ:IDXX) had its price objective lowered by equities researchers at Stifel Nicolaus from $520.00 to $510.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 2.88% from the company’s current price.

IDXX has been the subject of several other research reports. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday, June 14th. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Barclays reduced their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, Morgan Stanley reduced their target price on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a report on Tuesday, May 14th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $586.63.

IDEXX Laboratories Trading Down 0.0 %

Shares of IDEXX Laboratories stock opened at $495.73 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. The firm has a market cap of $40.94 billion, a price-to-earnings ratio of 47.99, a price-to-earnings-growth ratio of 4.05 and a beta of 1.33. The business has a fifty day simple moving average of $500.80 and a 200-day simple moving average of $528.29. IDEXX Laboratories has a fifty-two week low of $372.50 and a fifty-two week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.13. The business had revenue of $964.10 million during the quarter, compared to analyst estimates of $965.43 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. On average, equities analysts forecast that IDEXX Laboratories will post 11.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruce L. Claflin sold 200 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $540.80, for a total value of $108,160.00. Following the completion of the sale, the director now directly owns 161 shares of the company’s stock, valued at approximately $87,068.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in IDEXX Laboratories by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after purchasing an additional 98,387 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of IDEXX Laboratories by 2.1% during the 4th quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock valued at $780,303,000 after acquiring an additional 28,475 shares during the last quarter. Morgan Stanley increased its holdings in shares of IDEXX Laboratories by 4.7% during the 3rd quarter. Morgan Stanley now owns 1,064,514 shares of the company’s stock valued at $465,482,000 after acquiring an additional 48,095 shares during the last quarter. Capital World Investors increased its holdings in shares of IDEXX Laboratories by 1.1% during the 4th quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock valued at $567,648,000 after acquiring an additional 11,351 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $512,190,000. 87.84% of the stock is owned by institutional investors and hedge funds.

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.