IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives $539.63 Average Target Price from Brokerages

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $539.63.

A number of analysts recently issued reports on IDXX shares. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. reduced their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Leerink Partners began coverage on IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective on the stock. Stifel Nicolaus reduced their target price on shares of 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, Barclays dropped their price target 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.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $417.11 on Tuesday. The business’s 50-day moving average is $429.53 and its 200-day moving average is $466.75. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The company has a market capitalization of $34.16 billion, a price-to-earnings ratio of 40.22, a P/E/G ratio of 3.99 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.

IDEXX Laboratories (NASDAQ:IDXX) last released 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. The firm had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.53 EPS. Equities research analysts expect that IDEXX Laboratories will post 10.44 EPS for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $380,498.20. The trade was a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.11% of the company’s stock.

Hedge Funds Weigh In On IDEXX Laboratories

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