IDEXX Laboratories (NASDAQ:IDXX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of IDEXX Laboratories (NASDAQ:IDXX) from a hold rating to a buy rating in a research note released on Thursday.

A number of other research firms have also weighed in on IDXX. Barclays cut their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Stifel Nicolaus dropped their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $421.75 on Thursday. The business’s 50-day moving average is $451.91 and its 200-day moving average is $477.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The company has a market capitalization of $34.54 billion, a price-to-earnings ratio of 40.67, a P/E/G ratio of 3.68 and a beta of 1.36. IDEXX Laboratories has a fifty-two week low of $398.50 and a fifty-two week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued 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 firm 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 business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.53 earnings per share. Equities research analysts expect that IDEXX Laboratories will post 10.43 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.11% of the stock is owned by company insiders.

Institutional Trading of IDEXX Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in the business. FSA Wealth Management LLC acquired a new position in IDEXX Laboratories in the third quarter valued at about $25,000. Ridgewood Investments LLC bought a new stake in IDEXX Laboratories during the 2nd quarter worth approximately $27,000. Institutional & Family Asset Management LLC acquired a new stake in IDEXX Laboratories during the 2nd quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in IDEXX Laboratories by 5,700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after buying an additional 57 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings 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 buying an additional 60 shares during the period. Institutional investors own 87.84% of the company’s stock.

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.