IDEXX Laboratories (NASDAQ:IDXX) Upgraded at Leerink Partnrs

Leerink Partnrs upgraded shares of IDEXX Laboratories (NASDAQ:IDXX) to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Barclays lowered their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Stifel Nicolaus lowered their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Piper Sandler reiterated a “neutral” rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Finally, Leerink Partners assumed coverage on shares of IDEXX Laboratories in a research note on Monday. They set an “outperform” rating and a $500.00 price objective for the company. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $546.56.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $434.43 on Monday. The company has a market cap of $35.58 billion, a PE ratio of 41.89, a price-to-earnings-growth ratio of 3.76 and a beta of 1.37. IDEXX Laboratories has a 12 month low of $398.50 and a 12 month high of $583.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The company has a 50-day simple moving average of $447.62 and a 200-day simple moving average of $475.46.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same period in the previous year, the firm earned $2.53 earnings per share. IDEXX Laboratories’s revenue was up 6.6% compared to the same quarter last year. On average, equities analysts anticipate that IDEXX Laboratories will post 10.43 earnings per share for the current year.

Insider Activity at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the sale, the director now directly owns 905 shares of the company’s stock, valued at $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.18% of the stock is currently owned by corporate insiders.

Institutional Trading of IDEXX Laboratories

Institutional investors have recently added to or reduced their stakes in the stock. FSA Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories during the third quarter worth $25,000. Ridgewood Investments LLC acquired a new stake in shares of IDEXX Laboratories during the second quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of IDEXX Laboratories by 5,700.0% during the third 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. Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of IDEXX Laboratories by 750.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of IDEXX Laboratories during the second quarter worth $36,000. 87.84% of the stock is owned by institutional investors and hedge funds.

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.