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

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has been assigned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $591.50.

Several analysts have recently issued reports on the company. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. JPMorgan Chase & Co. increased their price objective on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Barclays boosted their target price on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target on the stock. in a research report on Tuesday, January 30th. Finally, The Goldman Sachs Group lifted their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $479.57 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $39.83 billion, a P/E ratio of 47.62, a P/E/G ratio of 3.67 and a beta of 1.26. IDEXX Laboratories has a 12 month low of $372.50 and a 12 month high of $583.39. The stock has a 50 day moving average of $536.30 and a 200-day moving average of $510.27.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Monday, February 5th. The company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. The business had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. IDEXX Laboratories’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 EPS. As a group, equities research analysts predict that IDEXX Laboratories will post 11.15 EPS for the current year.

Insider Transactions at IDEXX Laboratories

In related news, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the sale, the senior vice president now owns 6,712 shares in the company, valued at approximately $3,851,815.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the completion of the sale, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP George Fennell sold 8,198 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the sale, the senior vice president now owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,524 shares of company stock valued at $24,871,960. Corporate insiders own 2.18% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in IDEXX Laboratories by 2.1% in the 4th quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock valued at $780,303,000 after buying an additional 28,475 shares in the last quarter. Blair William & Co. IL raised its position in shares of IDEXX Laboratories by 0.7% in the third quarter. Blair William & Co. IL now owns 1,199,945 shares of the company’s stock worth $524,700,000 after buying an additional 7,812 shares in the last quarter. Brown Advisory Inc. boosted its stake in IDEXX Laboratories by 2.2% during the third quarter. Brown Advisory Inc. now owns 1,161,124 shares of the company’s stock valued at $507,725,000 after buying an additional 24,741 shares during the period. Morgan Stanley raised its stake in IDEXX Laboratories by 4.7% in the third quarter. Morgan Stanley now owns 1,064,514 shares of the company’s stock valued at $465,482,000 after purchasing an additional 48,095 shares in the last quarter. Finally, Capital World Investors grew its position in IDEXX Laboratories by 1.1% in the fourth quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock worth $567,648,000 after acquiring an additional 11,351 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Company Profile

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.