IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives $574.13 Consensus PT from Brokerages

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been given an average rating of “Moderate Buy” by the nine research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $552.38.

Several analysts recently issued reports on IDXX shares. Stifel Nicolaus decreased their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday. BTIG Research began coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Finally, Barclays dropped their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday.

Hedge Funds Weigh In On IDEXX Laboratories

A number of large investors have recently made changes to their positions in IDXX. Crewe Advisors LLC bought a new stake in IDEXX Laboratories during the 1st quarter valued at about $26,000. Ridgewood Investments LLC bought a new position in IDEXX Laboratories in the second quarter worth approximately $27,000. Institutional & Family Asset Management LLC purchased a new position in IDEXX Laboratories during the 2nd quarter worth $28,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after purchasing an additional 57 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC raised its position in IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after purchasing an additional 60 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Up 1.8 %

IDXX stock opened at $423.42 on Monday. The business’s 50-day moving average price is $474.87 and its 200-day moving average price is $485.88. The stock has a market cap of $34.67 billion, a P/E ratio of 40.83, a PEG ratio of 3.61 and a beta of 1.36. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. IDEXX Laboratories has a twelve month low of $404.74 and a twelve month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.11. The company had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. IDEXX Laboratories’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.53 EPS. On average, equities research analysts forecast that IDEXX Laboratories will post 10.45 EPS 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.