IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives $582.25 Average Target Price from Brokerages

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $582.25.

Several equities analysts have commented on IDXX shares. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Piper Sandler dropped their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Stifel Nicolaus dropped their price target on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Finally, BTIG Research began coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock.

Institutional Investors Weigh In On IDEXX Laboratories

A number of hedge funds have recently made changes to their positions in the stock. Riverview Trust Co purchased a new stake in IDEXX Laboratories in the first quarter valued at about $26,000. Crewe Advisors LLC purchased a new stake in IDEXX Laboratories in the first quarter valued at about $26,000. Ridgewood Investments LLC purchased a new position in shares of IDEXX Laboratories in the second quarter worth about $27,000. Institutional & Family Asset Management LLC purchased a new position in shares of IDEXX Laboratories in the second quarter worth about $28,000. Finally, DSM Capital Partners LLC purchased a new position in shares of IDEXX Laboratories in the fourth quarter worth about $33,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $512.27 on Friday. The company has a market cap of $42.31 billion, a P/E ratio of 49.59, a P/E/G ratio of 4.17 and a beta of 1.33. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. The business’s 50 day moving average price is $482.42 and its 200-day moving average price is $499.81. 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 Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $2.67 EPS. Sell-side analysts predict that IDEXX Laboratories will post 10.45 earnings per share for the current year.

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.