IDEXX Laboratories, Inc. (NASDAQ:IDXX) Given Average Recommendation of “Hold” by Brokerages
IDEXX Laboratories, Inc. (NASDAQ:IDXX) has earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $167.25.
Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $186.00 target price for the company in a research note on Wednesday, July 19th. Stifel Nicolaus reissued a “buy” rating and issued a $185.00 target price on shares of IDEXX Laboratories in a research note on Friday, July 14th. BidaskClub cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Canaccord Genuity reissued a “buy” rating and issued a $180.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, June 13th. Finally, Aegis assumed coverage on shares of IDEXX Laboratories in a research note on Wednesday, May 31st. They issued a “sell” rating and a $118.00 target price for the company. They noted that the move was a valuation call.
Shares of IDEXX Laboratories (NASDAQ:IDXX) traded down 2.26% during mid-day trading on Tuesday, hitting $166.33. 338,173 shares of the stock were exchanged. The firm has a 50-day moving average price of $164.54 and a 200 day moving average price of $152.49. The company has a market capitalization of $14.66 billion, a PE ratio of 61.63 and a beta of 0.48. IDEXX Laboratories has a 12-month low of $92.52 and a 12-month high of $173.01.
IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Friday, April 28th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.16. IDEXX Laboratories had a net margin of 13.47% and a negative return on equity of 706.91%. The business had revenue of $462 million during the quarter, compared to analysts’ expectations of $455.10 million. During the same period last year, the business earned $0.51 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. On average, equities research analysts expect that IDEXX Laboratories will post $3.05 earnings per share for the current year.
IDEXX Laboratories announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 3rd that allows the company to buyback 3,000,000 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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In other IDEXX Laboratories news, Director Rebecca M. Henderson sold 1,700 shares of the firm’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $159.95, for a total transaction of $271,915.00. Following the completion of the sale, the director now owns 21,552 shares of the company’s stock, valued at approximately $3,447,242.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Giovani Twigge sold 2,572 shares of the firm’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $166.90, for a total value of $429,266.80. The disclosure for this sale can be found here. Insiders have sold a total of 75,272 shares of company stock valued at $12,264,082 in the last ninety days. Insiders own 2.77% of the company’s stock.
A number of large investors have recently made changes to their positions in IDXX. Cutler Group LP acquired a new stake in shares of IDEXX Laboratories during the first quarter valued at about $355,000. National Pension Service increased its stake in shares of IDEXX Laboratories by 50,651.0% in the first quarter. National Pension Service now owns 79,679 shares of the company’s stock valued at $12,312,000 after buying an additional 79,522 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in shares of IDEXX Laboratories by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 27,750 shares of the company’s stock valued at $4,290,000 after buying an additional 400 shares in the last quarter. Exxonmobil Investment Management Inc. TX acquired a new stake in shares of IDEXX Laboratories during the first quarter valued at about $3,022,000. Finally, Creative Planning increased its stake in shares of IDEXX Laboratories by 27.9% in the first quarter. Creative Planning now owns 20,180 shares of the company’s stock valued at $3,120,000 after buying an additional 4,402 shares in the last quarter. 89.04% of the stock is owned by institutional investors and hedge funds.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.
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