Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have received an average rating of “Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have covered the stock in the last year is $286.67.
Several analysts have recently issued reports on the stock. Credit Suisse Group upped their target price on shares of IDEXX Laboratories from $282.00 to $293.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America set a $300.00 price objective on shares of IDEXX Laboratories and gave the stock a “buy” rating in a research report on Friday, June 21st. Canaccord Genuity reissued a “buy” rating and issued a $285.00 price objective on shares of IDEXX Laboratories in a research report on Friday, August 2nd. Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $271.00 price objective on the stock in a research report on Friday, May 3rd. Finally, Guggenheim initiated coverage on shares of IDEXX Laboratories in a research report on Thursday, May 23rd. They issued a “buy” rating and a $276.00 price objective on the stock.
NASDAQ:IDXX traded up $4.36 during trading hours on Wednesday, reaching $279.77. The company had a trading volume of 12,131 shares, compared to its average volume of 413,783. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 4.49. IDEXX Laboratories has a 52 week low of $176.11 and a 52 week high of $292.17. The firm has a market cap of $23.51 billion, a price-to-earnings ratio of 65.77 and a beta of 0.84. The firm’s 50 day moving average price is $279.25 and its 200-day moving average price is $244.02.
IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, August 1st. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.06. The company had revenue of $620.10 million during the quarter, compared to the consensus estimate of $627.10 million. IDEXX Laboratories had a net margin of 17.78% and a return on equity of 765.45%. IDEXX Laboratories’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 EPS. On average, analysts forecast that IDEXX Laboratories will post 4.86 earnings per share for the current fiscal year.
In other IDEXX Laboratories news, VP Michael Lane sold 17,961 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $264.10, for a total value of $4,743,500.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sophie V. Vandebroek sold 9,044 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $263.86, for a total transaction of $2,386,349.84. Following the completion of the sale, the director now owns 12,116 shares of the company’s stock, valued at $3,196,927.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,905 shares of company stock worth $18,968,126. Insiders own 2.70% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd purchased a new position in shares of IDEXX Laboratories in the second quarter worth $28,000. Cornerstone Advisors Inc. grew its position in IDEXX Laboratories by 100.0% during the second quarter. Cornerstone Advisors Inc. now owns 140 shares of the company’s stock valued at $39,000 after buying an additional 70 shares during the period. Captrust Financial Advisors grew its position in IDEXX Laboratories by 32.5% during the second quarter. Captrust Financial Advisors now owns 151 shares of the company’s stock valued at $42,000 after buying an additional 37 shares during the period. Personal Wealth Partners acquired a new stake in IDEXX Laboratories during the second quarter valued at $52,000. Finally, Next Capital Management LLC grew its position in IDEXX Laboratories by 81.9% during the second quarter. Next Capital Management LLC now owns 191 shares of the company’s stock valued at $53,000 after buying an additional 86 shares during the period. Institutional investors own 87.10% of the company’s stock.
About IDEXX Laboratories
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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