IDEXX Laboratories, Inc. (NASDAQ:IDXX) Given Average Recommendation of “Moderate Buy” by Brokerages

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $591.50.

IDXX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. BNP Paribas started coverage on shares of IDEXX Laboratories in a report on Thursday, December 7th. They issued an “outperform” rating and a $602.00 target price on the stock. Piper Sandler cut shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price on the stock. in a report on Tuesday, January 30th. The Goldman Sachs Group raised their target price on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Barclays raised their target price on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th.

Insider Activity

In other news, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the sale, the senior vice president now directly owns 6,712 shares in the company, valued at approximately $3,851,815.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories stock in a transaction on Wednesday, February 7th. The shares were 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 directly owns 29,718 shares in the company, valued at approximately $16,939,557.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP George Fennell sold 8,198 shares of IDEXX Laboratories stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the sale, the senior vice president now owns 6,712 shares in the company, valued at $3,851,815.44. The disclosure for this sale can be found here. Insiders have sold 43,524 shares of company stock worth $24,871,960 in the last three months. Company insiders own 2.11% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Institutional investors and hedge funds have recently bought and sold shares of the stock. Valley National Advisers Inc. increased its holdings in IDEXX Laboratories by 84.6% in the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after acquiring an additional 22 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in IDEXX Laboratories in the 3rd quarter valued at $26,000. OFI Invest Asset Management purchased a new position in shares of IDEXX Laboratories in the 3rd quarter worth $25,000. DSM Capital Partners LLC purchased a new position in shares of IDEXX Laboratories in the 4th quarter worth $33,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of IDEXX Laboratories in the 4th quarter worth $34,000. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $539.93 on Friday. IDEXX Laboratories has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The company has a 50 day simple moving average of $548.25 and a two-hundred day simple moving average of $501.97. The company has a market capitalization of $44.86 billion, a price-to-earnings ratio of 53.62, a P/E/G ratio of 2.91 and a beta of 1.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, February 5th. The company reported $2.32 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 firm had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $891.88 million. During the same quarter in the prior year, the company posted $2.05 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts expect that IDEXX Laboratories will post 11.15 EPS for the current fiscal year.

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.