IDEXX Laboratories Target of Unusually Large Options Trading (NASDAQ:IDXX)

IDEXX Laboratories, Inc. (NASDAQ:IDXX) was the recipient of some unusual options trading activity on Friday. Stock investors purchased 2,600 put options on the company. This is an increase of 581% compared to the average daily volume of 382 put options.

IDEXX Laboratories Price Performance

IDXX traded down $8.80 during trading on Friday, reaching $414.85. The company’s stock had a trading volume of 234,845 shares, compared to its average volume of 499,673. The firm has a fifty day simple moving average of $469.35 and a two-hundred day simple moving average of $483.39. The company has a market cap of $33.97 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 3.75 and a beta of 1.36. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. IDEXX Laboratories has a 1 year low of $404.74 and a 1 year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The company had revenue of $975.50 million for 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 in the previous year, the business earned $2.53 earnings per share. As a group, analysts anticipate that IDEXX Laboratories will post 10.43 EPS for the current year.

Institutional Trading of IDEXX Laboratories

Hedge funds have recently modified their holdings of the stock. FSA Wealth Management LLC purchased a new position in IDEXX Laboratories in the third quarter valued at $25,000. Crewe Advisors LLC purchased a new position in shares of IDEXX Laboratories in the 1st quarter valued at about $26,000. Ridgewood Investments LLC acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter worth about $27,000. Institutional & Family Asset Management LLC acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter worth about $28,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in IDEXX Laboratories by 5,700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after purchasing an additional 57 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Piper Sandler restated a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Stifel Nicolaus reduced 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. Barclays dropped their price target 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. BTIG Research began coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $552.38.

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.