IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $546.56.

A number of analysts have commented on the stock. Stifel Nicolaus reduced their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Leerink Partners started coverage on IDEXX Laboratories in a research report on Monday. They set an “outperform” rating and a $500.00 target price on the stock. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research report on Monday. Finally, Barclays lowered their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now directly owns 905 shares of the company’s stock, valued at $380,498.20. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IDEXX Laboratories

A number of large investors have recently made changes to their positions in the company. FSA Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories in the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC purchased a new position in shares of IDEXX Laboratories in the 2nd quarter valued at about $27,000. Institutional & Family Asset Management LLC purchased a new position in shares of IDEXX Laboratories during the 2nd quarter valued at approximately $28,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in IDEXX Laboratories by 5,700.0% in the 3rd 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 holdings in IDEXX Laboratories by 750.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after purchasing an additional 60 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

IDXX stock opened at $432.11 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. IDEXX Laboratories has a 1 year low of $398.50 and a 1 year high of $583.39. The company has a market cap of $35.39 billion, a P/E ratio of 41.67, a price-to-earnings-growth ratio of 3.76 and a beta of 1.37. The stock’s fifty day moving average price is $448.89 and its 200-day moving average price is $475.75.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business had revenue of $975.50 million for the quarter, compared to analysts’ expectations of $980.32 million. During the same period last year, the firm posted $2.53 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities analysts forecast that IDEXX Laboratories will post 10.43 earnings per share for the current year.

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.