Analysts Set IDEXX Laboratories, Inc. (NASDAQ:IDXX) Price Target at $582.25

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has been given a consensus rating of “Moderate Buy” by the nine analysts that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $574.13.

Several equities research analysts have issued reports on the company. BTIG Research assumed coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price on the stock. Stifel Nicolaus dropped their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday. Piper Sandler lowered their price objective 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. Finally, StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th.

Institutional Investors Weigh In On IDEXX Laboratories

Large investors have recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in IDEXX Laboratories during the first quarter valued at about $26,000. Crewe Advisors LLC purchased a new stake in IDEXX Laboratories during the first quarter valued at about $26,000. Ridgewood Investments LLC purchased a new stake in IDEXX Laboratories during the second quarter valued at about $27,000. Institutional & Family Asset Management LLC purchased a new stake in IDEXX Laboratories during the second quarter valued at about $28,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of IDEXX Laboratories during the second quarter valued at about $36,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $476.27 on Thursday. The stock has a fifty day simple moving average of $488.00 and a two-hundred day simple moving average of $493.93. IDEXX Laboratories has a 1-year low of $372.50 and a 1-year high of $583.39. The firm has a market cap of $39.33 billion, a price-to-earnings ratio of 46.11, a price-to-earnings-growth ratio of 4.14 and a beta of 1.33. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company posted $2.67 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts anticipate that IDEXX Laboratories will post 10.44 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.