IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives $552.38 Consensus PT from Brokerages

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have earned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $552.38.

A number of analysts have weighed in on the stock. Barclays decreased their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday. JPMorgan Chase & Co. cut their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Stifel Nicolaus lowered their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.11% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Hedge funds have recently modified their holdings of the stock. Chicago Partners Investment Group LLC increased its stake in IDEXX Laboratories by 16.7% in the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock valued at $340,000 after purchasing an additional 96 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in IDEXX Laboratories in the second quarter worth approximately $20,418,000. Oppenheimer Asset Management Inc. grew its stake in IDEXX Laboratories by 13.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock valued at $5,825,000 after acquiring an additional 1,453 shares during the period. National Pension Service increased its holdings in shares of IDEXX Laboratories by 7.3% during the third quarter. National Pension Service now owns 185,972 shares of the company’s stock valued at $93,957,000 after acquiring an additional 12,647 shares in the last quarter. Finally, EFG Asset Management Americas Corp. raised its position in shares of IDEXX Laboratories by 45.3% during the second quarter. EFG Asset Management Americas Corp. now owns 12,728 shares of the company’s stock worth $6,201,000 after purchasing an additional 3,966 shares during the period. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $421.75 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $34.54 billion, a PE ratio of 40.67, a price-to-earnings-growth ratio of 3.68 and a beta of 1.36. IDEXX Laboratories has a twelve month low of $398.50 and a twelve month high of $583.39. The stock’s 50-day simple moving average is $451.91 and its 200 day simple moving average is $477.31.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The company had revenue of $975.50 million for 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%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $2.53 EPS. On average, analysts anticipate that IDEXX Laboratories will post 10.43 EPS 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.