Analysts Set IDEXX Laboratories, Inc. (NASDAQ:IDXX) PT at $586.63

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $586.63.

Several analysts have issued reports on the company. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Stifel Nicolaus dropped their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Morgan Stanley dropped their price objective on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 14th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Finally, Barclays dropped their price target on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd.

IDEXX Laboratories Stock Performance

IDXX opened at $477.49 on Tuesday. IDEXX Laboratories has a 52-week low of $372.50 and a 52-week high of $583.39. The firm has a market capitalization of $39.44 billion, a PE ratio of 46.22, a PEG ratio of 3.89 and a beta of 1.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57. The business’s 50-day simple moving average is $500.85 and its 200 day simple moving average is $525.26.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.13. The business had revenue of $964.10 million for the quarter, compared to analyst estimates of $965.43 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. As a group, sell-side analysts expect that IDEXX Laboratories will post 11.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IDEXX Laboratories news, Director Bruce L. Claflin sold 200 shares of IDEXX Laboratories stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $540.80, for a total transaction of $108,160.00. Following the transaction, the director now directly owns 161 shares of the company’s stock, valued at approximately $87,068.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Patron Partners LLC lifted its holdings in IDEXX Laboratories by 2.7% during the 4th quarter. Patron Partners LLC now owns 765 shares of the company’s stock worth $425,000 after buying an additional 20 shares during the period. NewEdge Wealth LLC lifted its holdings in IDEXX Laboratories by 3.1% during the 4th quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock worth $366,000 after buying an additional 20 shares during the period. Manchester Capital Management LLC lifted its holdings in IDEXX Laboratories by 11.9% during the 4th quarter. Manchester Capital Management LLC now owns 188 shares of the company’s stock worth $104,000 after buying an additional 20 shares during the period. Phoenix Holdings Ltd. lifted its holdings in IDEXX Laboratories by 2.8% during the 3rd quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock worth $338,000 after buying an additional 21 shares during the period. Finally, BluePath Capital Management LLC lifted its holdings in IDEXX Laboratories by 1.8% during the 4th quarter. BluePath Capital Management LLC now owns 1,197 shares of the company’s stock worth $663,000 after buying an additional 21 shares during the period. 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.