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

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have earned an average rating of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $539.63.

A number of equities analysts have recently commented on IDXX shares. Piper Sandler reissued a “neutral” rating and issued a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Stifel Nicolaus decreased their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Finally, Barclays cut their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th.

Insider Buying and Selling

In related news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.11% of the stock is owned by insiders.

Institutional Investors Weigh In On IDEXX Laboratories

Several institutional investors and hedge funds have recently bought and sold shares of the business. Atomi Financial Group Inc. increased its position in IDEXX Laboratories by 6.0% during the 2nd quarter. Atomi Financial Group Inc. now owns 675 shares of the company’s stock valued at $329,000 after purchasing an additional 38 shares during the period. Checchi Capital Advisers LLC increased its position in shares of IDEXX Laboratories by 4.4% during the second quarter. Checchi Capital Advisers LLC now owns 684 shares of the company’s stock valued at $333,000 after buying an additional 29 shares during the period. Kintegral Advisory LLC raised its stake in IDEXX Laboratories by 17.8% in the second quarter. Kintegral Advisory LLC now owns 5,842 shares of the company’s stock worth $2,846,000 after buying an additional 882 shares in the last quarter. Financial Advocates Investment Management lifted its holdings in IDEXX Laboratories by 50.5% in the second quarter. Financial Advocates Investment Management now owns 730 shares of the company’s stock worth $356,000 after buying an additional 245 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in IDEXX Laboratories by 3.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 761 shares of the company’s stock valued at $371,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $414.93 on Tuesday. IDEXX Laboratories has a 52-week low of $398.50 and a 52-week high of $583.39. The stock has a fifty day moving average of $428.68 and a 200 day moving average of $465.82. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The firm has a market capitalization of $33.98 billion, a price-to-earnings ratio of 40.01, a P/E/G ratio of 3.99 and a beta of 1.37.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The firm 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 company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the company posted $2.53 EPS. On average, research analysts expect that IDEXX Laboratories will post 10.44 EPS for the current fiscal 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.