Leerink Partners Begins Coverage on IDEXX Laboratories (NASDAQ:IDXX)

Investment analysts at Leerink Partners started coverage on shares of IDEXX Laboratories (NASDAQ:IDXX) in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $500.00 price target on the stock. Leerink Partners’ price objective points to a potential upside of 15.71% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus dropped their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Barclays dropped their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. reduced their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Piper Sandler reiterated a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $546.56.

IDEXX Laboratories Trading Up 0.3 %

Shares of IDXX stock opened at $432.11 on Monday. IDEXX Laboratories has a 1-year low of $398.50 and a 1-year high of $583.39. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The stock has a market cap of $35.39 billion, a price-to-earnings ratio of 41.67, a PEG ratio of 3.76 and a beta of 1.37. The stock has a 50-day moving average of $448.89 and a 200-day moving average of $475.75.

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

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the transaction, the director now owns 905 shares in the company, valued at $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.18% of the company’s stock.

Hedge Funds Weigh In On IDEXX Laboratories

A number of large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its holdings in IDEXX Laboratories by 52,746.0% during the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock worth $2,669,890,000 after purchasing an additional 527,460 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of IDEXX Laboratories by 696.0% in the second quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock valued at $171,891,000 after acquiring an additional 308,493 shares during the period. Vontobel Holding Ltd. grew its stake in IDEXX Laboratories by 3,325.0% during the third quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company’s stock valued at $111,229,000 after acquiring an additional 213,731 shares in the last quarter. American Century Companies Inc. increased its holdings in IDEXX Laboratories by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after acquiring an additional 177,226 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in IDEXX Laboratories by 4,193.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company’s stock worth $62,601,000 after purchasing an additional 125,498 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

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.