IDEXX Laboratories (NASDAQ:IDXX) Receives Neutral Rating from Piper Sandler

Piper Sandler restated their neutral rating on shares of IDEXX Laboratories (NASDAQ:IDXX) in a research note released on Monday,Benzinga reports. Piper Sandler currently has a $435.00 price target on the stock, down from their previous price target of $520.00.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reduced their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Barclays reduced their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday. Stifel Nicolaus reduced their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $552.38.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $433.00 on Monday. The company has a market capitalization of $35.46 billion, a price-to-earnings ratio of 41.76, a PEG ratio of 3.61 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. IDEXX Laboratories has a fifty-two week low of $404.74 and a fifty-two week high of $583.39. The stock has a fifty day moving average of $474.87 and a two-hundred day moving average of $485.88.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.53 earnings per share. On average, analysts anticipate that IDEXX Laboratories will post 10.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Crewe Advisors LLC acquired a new position in shares of IDEXX Laboratories in the first quarter worth about $26,000. Ridgewood Investments LLC acquired a new position in shares of IDEXX Laboratories in the second quarter worth about $27,000. Institutional & Family Asset Management LLC acquired a new position in shares of IDEXX Laboratories in the second quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of IDEXX Laboratories by 5,700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after acquiring an additional 57 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

About IDEXX Laboratories

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.