IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been assigned an average rating of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $591.50.

IDXX has been the subject of a number of research reports. Barclays lifted their price target on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Piper Sandler downgraded shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a research report on Tuesday, January 30th. JPMorgan Chase & Co. upped their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group upped their target price on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th.

IDEXX Laboratories Price Performance

IDXX stock opened at $494.26 on Thursday. The firm has a 50 day moving average of $533.74 and a 200-day moving average of $510.50. IDEXX Laboratories has a 12-month low of $372.50 and a 12-month high of $583.39. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. The company has a market cap of $41.05 billion, a price-to-earnings ratio of 49.08, a PEG ratio of 3.69 and a beta of 1.26.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The company had revenue of $901.60 million during the quarter, compared to the consensus estimate of $891.88 million. During the same period last year, the firm earned $2.05 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities analysts expect that IDEXX Laboratories will post 11.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the transaction, the chief financial officer now owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the transaction, the chief executive officer now owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total value of $13,296,053.26. Following the sale, the chief financial officer now owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The disclosure for this sale can be found here. Insiders have sold a total of 43,524 shares of company stock valued at $24,871,960 in the last quarter. 2.18% of the stock is currently owned by company insiders.

Institutional Trading of IDEXX Laboratories

Institutional investors and hedge funds have recently made changes to their positions in the company. Valley National Advisers Inc. increased its holdings in shares of IDEXX Laboratories by 84.6% during the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after buying an additional 22 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of IDEXX Laboratories during the 1st quarter worth $26,000. OFI Invest Asset Management acquired a new stake in shares of IDEXX Laboratories during the 3rd quarter worth $25,000. DSM Capital Partners LLC acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth $33,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth $34,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

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.