Barclays Forecasts Strong Price Appreciation for IDEXX Laboratories (NASDAQ:IDXX) Stock

IDEXX Laboratories (NASDAQ:IDXX) had its price target lifted by equities research analysts at Barclays from $481.00 to $520.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 10.98% from the stock’s previous close.

IDXX has been the subject of a number of other reports. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Leerink Partners initiated coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Bank of America upped their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Stifel Nicolaus dropped their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $524.38.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $468.55 on Tuesday. The firm’s fifty day simple moving average is $425.88 and its 200-day simple moving average is $453.51. 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 stock has a market cap of $38.37 billion, a PE ratio of 45.18, a price-to-earnings-growth ratio of 3.64 and a beta of 1.37. IDEXX Laboratories has a fifty-two week low of $398.50 and a fifty-two week high of $583.39.

Insider Activity

In other news, Director Sophie V. Vandebroek sold 344 shares of the business’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 transaction, the director now owns 905 shares of the company’s stock, valued at $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.11% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of IDEXX Laboratories by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock worth $1,138,732,000 after purchasing an additional 40,349 shares during the last quarter. Franklin Resources Inc. lifted its position in IDEXX Laboratories by 2.5% during the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after buying an additional 34,305 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in IDEXX Laboratories by 0.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company’s stock worth $379,875,000 after buying an additional 2,463 shares during the last quarter. International Assets Investment Management LLC grew its holdings in IDEXX Laboratories by 52,746.0% in the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock valued at $2,669,890,000 after buying an additional 527,460 shares during the period. Finally, Flossbach Von Storch SE increased its stake in shares of IDEXX Laboratories by 5,439.3% during the 4th quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock valued at $195,696,000 after acquiring an additional 464,791 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

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.