IDEXX Laboratories (NASDAQ:IDXX) had its price objective raised by Credit Suisse Group from $282.00 to $293.00 in a report issued on Friday, BenzingaRatingsTable reports. The firm currently has an outperform rating on the stock.
A number of other research analysts also recently issued reports on IDXX. Bank of America set a $300.00 price objective on IDEXX Laboratories and gave the company a buy rating in a research note on Friday, June 21st. Stifel Nicolaus upped their price objective on IDEXX Laboratories from $255.00 to $295.00 and gave the company a buy rating in a research note on Monday, July 22nd. Guggenheim initiated coverage on IDEXX Laboratories in a research note on Thursday, May 23rd. They issued a buy rating and a $276.00 price objective for the company. Canaccord Genuity restated a buy rating and issued a $285.00 price objective on shares of IDEXX Laboratories in a research note on Friday, August 2nd. Finally, Zacks Investment Research upgraded IDEXX Laboratories from a hold rating to a buy rating and set a $271.00 price objective for the company in a research note on Friday, May 3rd. Seven equities research analysts have rated the stock with a buy rating, IDEXX Laboratories presently has a consensus rating of Buy and a consensus price target of $286.67.
NASDAQ:IDXX traded up $2.34 during trading on Friday, reaching $275.41. The company’s stock had a trading volume of 375,600 shares, compared to its average volume of 415,724. The firm has a market cap of $23.23 billion, a price-to-earnings ratio of 64.65 and a beta of 0.84. The company has a debt-to-equity ratio of 4.49, a quick ratio of 0.83 and a current ratio of 1.15. The firm has a 50 day moving average of $279.25 and a 200-day moving average of $244.02. IDEXX Laboratories has a 12 month low of $176.11 and a 12 month high of $292.17.
In other news, Chairman Jonathan W. Ayers sold 10,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $272.75, for a total transaction of $2,727,500.00. Following the transaction, the chairman now owns 1,035,942 shares of the company’s stock, valued at approximately $282,553,180.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Giovani Twigge sold 2,600 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $250.14, for a total value of $650,364.00. Following the transaction, the insider now directly owns 12,595 shares in the company, valued at approximately $3,150,513.30. The disclosure for this sale can be found here. Insiders have sold a total of 71,905 shares of company stock worth $18,968,126 in the last ninety days. Insiders own 2.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of IDEXX Laboratories by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 9,247,387 shares of the company’s stock valued at $2,546,084,000 after buying an additional 112,147 shares during the last quarter. Fundsmith LLP lifted its holdings in IDEXX Laboratories by 0.8% during the 1st quarter. Fundsmith LLP now owns 4,467,341 shares of the company’s stock worth $998,897,000 after purchasing an additional 35,049 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in IDEXX Laboratories by 32.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,180,724 shares of the company’s stock worth $875,749,000 after purchasing an additional 787,736 shares in the last quarter. Blair William & Co. IL lifted its holdings in IDEXX Laboratories by 0.7% during the 1st quarter. Blair William & Co. IL now owns 1,582,222 shares of the company’s stock worth $353,785,000 after purchasing an additional 10,586 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in IDEXX Laboratories by 111.2% during the 1st quarter. American Century Companies Inc. now owns 1,483,074 shares of the company’s stock worth $331,615,000 after purchasing an additional 780,846 shares in the last quarter. 87.39% of the stock is currently owned by hedge funds and other institutional investors.
About IDEXX Laboratories
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. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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