Brokerages Set IDEXX Laboratories, Inc. (NASDAQ:IDXX) Price Target at $586.63

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $586.63.

A number of research analysts have recently commented on the stock. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Barclays decreased 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. Morgan Stanley decreased 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. Stifel Nicolaus decreased their target price on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. Finally, William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th.

Insiders Place Their Bets

In other news, Director Bruce L. Claflin sold 200 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $540.80, for a total transaction of $108,160.00. Following the completion of the transaction, the director now directly owns 161 shares in the company, valued at approximately $87,068.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On IDEXX Laboratories

Institutional investors and hedge funds have recently made changes to their positions in the business. Valley National Advisers Inc. increased its position in IDEXX Laboratories by 84.6% in the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after buying an additional 22 shares during the period. Riverview Trust Co acquired a new stake in IDEXX Laboratories in the first quarter worth $26,000. Crewe Advisors LLC acquired a new stake in IDEXX Laboratories in the first quarter worth $26,000. DSM Capital Partners LLC acquired a new stake in IDEXX Laboratories in the fourth quarter worth $33,000. Finally, Private Wealth Management Group LLC acquired a new stake in IDEXX Laboratories in the fourth quarter worth $34,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Trading Up 0.1 %

NASDAQ IDXX opened at $477.49 on Tuesday. IDEXX Laboratories has a 12 month low of $372.50 and a 12 month high of $583.39. The company has a 50-day moving average of $500.85 and a 200-day moving average of $525.26. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.16. The company has a market cap of $39.44 billion, a P/E ratio of 46.22, a P/E/G ratio of 3.89 and a beta of 1.32.

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

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.