IDEXX Laboratories (NASDAQ:IDXX) Price Target Lowered to $582.00 at Barclays

IDEXX Laboratories (NASDAQ:IDXX – Get Rating) had its price target lowered by Barclays from $700.00 to $582.00 in a report issued on Friday, The Fly reports. The firm currently has an overweight rating on the stock.

Other equities analysts also recently issued research reports about the company. Morgan Stanley decreased their target price on IDEXX Laboratories from $603.00 to $573.00 and set an overweight rating on the stock in a research report on Thursday. The Goldman Sachs Group raised IDEXX Laboratories from a neutral rating to a buy rating and cut their price target for the company from $530.00 to $435.00 in a report on Thursday, July 21st. Atlantic Securities cut their price target on IDEXX Laboratories from $500.00 to $490.00 and set an overweight rating for the company in a report on Wednesday. StockNews.com cut IDEXX Laboratories from a buy rating to a hold rating in a report on Monday, July 25th. Finally, Bank of America cut IDEXX Laboratories from a buy rating to a neutral rating and cut their target price for the stock from $550.00 to $470.00 in a research note on Thursday, May 5th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $519.38.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $407.78 on Friday. The company has a market capitalization of $33.95 billion, a P/E ratio of 52.62, a P/E/G ratio of 5.36 and a beta of 1.14. The business’s 50 day moving average is $368.91 and its two-hundred day moving average is $443.56. The company has a current ratio of 0.89, a quick ratio of 0.81 and a debt-to-equity ratio of 1.68. IDEXX Laboratories has a 12-month low of $318.50 and a 12-month high of $698.90.

IDEXX Laboratories (NASDAQ:IDXX – Get Rating) last released its earnings results on Wednesday, May 4th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.02. The business had revenue of $836.55 million for the quarter, compared to the consensus estimate of $836.47 million. IDEXX Laboratories had a return on equity of 104.47% and a net margin of 20.07%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.35 earnings per share. Analysts expect that IDEXX Laboratories will post 7.97 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEXX Laboratories

A number of institutional investors have recently modified their holdings of the company. Heartland Bank & Trust Co grew its stake in shares of IDEXX Laboratories by 2.2% in the fourth quarter. Heartland Bank & Trust Co now owns 938 shares of the company’s stock valued at $618,000 after buying an additional 20 shares in the last quarter. First National Bank of Hutchinson boosted its holdings in IDEXX Laboratories by 1.8% in the fourth quarter. First National Bank of Hutchinson now owns 1,121 shares of the company’s stock valued at $738,000 after purchasing an additional 20 shares during the period. Mission Wealth Management LP boosted its holdings in IDEXX Laboratories by 1.7% in the fourth quarter. Mission Wealth Management LP now owns 1,463 shares of the company’s stock valued at $963,000 after purchasing an additional 24 shares during the period. Freestone Capital Holdings LLC boosted its holdings in IDEXX Laboratories by 3.7% in the fourth quarter. Freestone Capital Holdings LLC now owns 699 shares of the company’s stock valued at $460,000 after purchasing an additional 25 shares during the period. Finally, American National Bank boosted its holdings in IDEXX Laboratories by 18.5% in the first quarter. American National Bank now owns 160 shares of the company’s stock valued at $88,000 after purchasing an additional 25 shares during the period. 84.92% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Company Profile

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IDEXX Laboratories, Inc 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 CAG; Water Quality Products; LPD; and Other segments. It provides point-of-care veterinary diagnostic products, including instruments, consumables, and rapid assay test kits; veterinary reference laboratory diagnostic and consulting services; practice management and diagnostic imaging systems and services for veterinarians; and health monitoring, biological materials testing, and laboratory animal diagnostic instruments and services for biomedical research community.