IDEXX Laboratories (NASDAQ:IDXX) Stock Rating Upgraded by Leerink Partnrs

Leerink Partnrs upgraded shares of IDEXX Laboratories (NASDAQ:IDXX) to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Several other research analysts also recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Leerink Partners began coverage on IDEXX Laboratories in a report on Monday. They issued an “outperform” rating and a $500.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Finally, Stifel Nicolaus cut their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $546.56.

IDEXX Laboratories Price Performance

IDXX stock traded down $2.46 during mid-day trading on Monday, hitting $428.31. The company had a trading volume of 67,726 shares, compared to its average volume of 504,752. The company has a market capitalization of $35.07 billion, a price-to-earnings ratio of 41.54, a P/E/G ratio of 3.68 and a beta of 1.37. The company has a 50-day moving average price of $451.91 and a 200 day moving average price of $477.31. 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 12-month low of $398.50 and a 12-month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.69 by $0.11. The company had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. IDEXX Laboratories’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.53 earnings per share. On average, research analysts anticipate that IDEXX Laboratories will post 10.43 earnings per share for the current year.

Insider Activity at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the company’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 owns 905 shares in the company, valued at $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IDXX. FSA Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the third quarter worth about $25,000. Ridgewood Investments LLC purchased a new position in IDEXX Laboratories in the 2nd quarter worth approximately $27,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of IDEXX Laboratories by 5,700.0% during the 3rd 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. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of IDEXX Laboratories by 750.0% in 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. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $36,000. 87.84% of the stock is owned by hedge funds and other 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.