IDEXX Laboratories, Inc. (IDXX) Receives Average Rating of “Buy” from Analysts

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has earned a consensus recommendation of “Buy” from the eight ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $246.00.

IDXX has been the subject of a number of research analyst reports. Canaccord Genuity lowered their target price on IDEXX Laboratories from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, November 5th. BidaskClub upgraded IDEXX Laboratories from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Bank of America lowered their price objective on IDEXX Laboratories from $275.00 to $235.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Finally, Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “strong-buy” rating and set a $236.00 price objective for the company in a research note on Monday, February 4th.

In other IDEXX Laboratories news, Director M Anne Szostak sold 5,906 shares of IDEXX Laboratories stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $208.96, for a total value of $1,234,117.76. Following the completion of the sale, the director now owns 6,490 shares of the company’s stock, valued at approximately $1,356,150.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Lane sold 971 shares of IDEXX Laboratories stock in a transaction on Friday, February 15th. The stock was sold at an average price of $208.00, for a total value of $201,968.00. The disclosure for this sale can be found here. In the last three months, insiders sold 27,283 shares of company stock valued at $5,637,846. Corporate insiders own 2.56% of the company’s stock.

Several institutional investors have recently bought and sold shares of IDXX. APG Asset Management N.V. grew its holdings in shares of IDEXX Laboratories by 34.4% in the fourth quarter. APG Asset Management N.V. now owns 29,300 shares of the company’s stock worth $4,768,000 after acquiring an additional 7,500 shares during the period. PFG Advisors bought a new stake in shares of IDEXX Laboratories in the fourth quarter worth $1,743,000. Public Employees Retirement System of Ohio grew its holdings in shares of IDEXX Laboratories by 2.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 67,849 shares of the company’s stock worth $12,621,000 after acquiring an additional 1,545 shares during the period. Western Wealth Management LLC bought a new stake in shares of IDEXX Laboratories in the fourth quarter worth $1,045,000. Finally, National Pension Service grew its holdings in shares of IDEXX Laboratories by 3.9% in the fourth quarter. National Pension Service now owns 112,394 shares of the company’s stock worth $23,259,000 after acquiring an additional 4,248 shares during the period. 85.96% of the stock is owned by institutional investors and hedge funds.

Shares of IDXX traded down $0.05 on Wednesday, reaching $211.27. The stock had a trading volume of 3,812 shares, compared to its average volume of 498,753. The stock has a market cap of $18.18 billion, a PE ratio of 49.80 and a beta of 1.02. IDEXX Laboratories has a 12-month low of $176.11 and a 12-month high of $256.22.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Friday, February 1st. The company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.08. The company had revenue of $549.39 million during the quarter, compared to analysts’ expectations of $546.04 million. IDEXX Laboratories had a negative return on equity of 1,501.97% and a net margin of 17.03%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 EPS. Sell-side analysts predict that IDEXX Laboratories will post 4.69 EPS for the current fiscal year.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

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Analyst Recommendations for IDEXX Laboratories (NASDAQ:IDXX)

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