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

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $546.56.

Several equities research analysts have weighed in on the stock. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday. Stifel Nicolaus reduced their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Piper Sandler restated a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. JPMorgan Chase & Co. cut their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Finally, Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research note on Monday. They issued an “outperform” rating and a $500.00 price target for the company.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction dated 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 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 is accessible through this link. Corporate insiders own 2.18% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

Institutional investors have recently made changes to their positions in the company. Chicago Partners Investment Group LLC increased its holdings in shares of IDEXX Laboratories by 16.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock worth $340,000 after purchasing an additional 96 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in IDEXX Laboratories in the 2nd quarter worth about $20,418,000. Oppenheimer Asset Management Inc. raised its position in IDEXX Laboratories by 13.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock worth $5,825,000 after buying an additional 1,453 shares during the last quarter. National Pension Service lifted its stake in IDEXX Laboratories by 7.3% during the 3rd 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 during the period. Finally, EFG Asset Management Americas Corp. boosted its holdings in shares of IDEXX Laboratories by 45.3% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 12,728 shares of the company’s stock valued at $6,201,000 after acquiring an additional 3,966 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 0.3 %

NASDAQ IDXX opened at $432.11 on Friday. The firm has a market cap of $35.39 billion, a PE ratio of 41.67, a price-to-earnings-growth ratio of 3.76 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 stock has a 50-day moving average of $448.89 and a 200-day moving average of $475.75. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating 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 the consensus estimate of $980.32 million. During the same quarter in the previous year, the company posted $2.53 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts forecast that IDEXX Laboratories will post 10.43 EPS for the current 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.