Brokerages Set IDEXX Laboratories, Inc. (NASDAQ:IDXX) PT at $539.63

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been given a consensus rating of “Moderate Buy” by the ten analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $539.63.

Several research firms recently issued reports on IDXX. Piper Sandler reissued a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Stifel Nicolaus lowered their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Barclays lowered their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. This represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. FSA Wealth Management LLC bought a new position in shares of IDEXX Laboratories in the third quarter valued at $25,000. Ridgewood Investments LLC purchased a new position in IDEXX Laboratories in the 2nd quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. increased its stake in IDEXX Laboratories by 5,700.0% in 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 in the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its position in shares of IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after acquiring an additional 60 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $417.11 on Tuesday. The firm has a fifty day moving average of $429.53 and a two-hundred day moving average of $466.75. The firm has a market cap of $34.16 billion, a P/E ratio of 40.22, a P/E/G ratio of 3.99 and a beta of 1.37. IDEXX Laboratories has a 1-year low of $398.50 and a 1-year 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.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same period last year, the firm earned $2.53 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, research analysts anticipate that IDEXX Laboratories will post 10.44 earnings per share for the current fiscal 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.