Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been assigned an average recommendation of “Hold” from the eight research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $173.67.

A number of analysts have recently commented on the company. Stifel Nicolaus restated a “buy” rating and issued a $185.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, October 24th. BidaskClub downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Bank of America Corporation upgraded IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a research note on Wednesday, August 23rd. CL King upgraded IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a research note on Friday, July 28th. Finally, Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $186.00 target price on the stock in a research note on Wednesday, July 19th.

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IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Tuesday, October 31st. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. IDEXX Laboratories had a negative return on equity of 336.64% and a net margin of 14.55%. The firm had revenue of $492.00 million for the quarter, compared to the consensus estimate of $492.94 million. During the same quarter in the prior year, the business earned $0.62 earnings per share. The company’s revenue was up 9.7% compared to the same quarter last year.

In related news, Chairman Jonathan W. Ayers sold 13,000 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $150.79, for a total value of $1,960,270.00. Following the completion of the transaction, the chairman now owns 1,044,034 shares of the company’s stock, valued at approximately $157,429,886.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rebecca M. Henderson sold 5,156 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $153.29, for a total value of $790,363.24. Following the completion of the transaction, the director now directly owns 17,274 shares of the company’s stock, valued at approximately $2,647,931.46. The disclosure for this sale can be found here. Insiders sold a total of 151,734 shares of company stock valued at $23,436,626 in the last ninety days. 2.77% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund raised its holdings in IDEXX Laboratories by 1.6% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 36,482 shares of the company’s stock worth $5,673,000 after purchasing an additional 580 shares during the period. American Century Companies Inc. raised its holdings in IDEXX Laboratories by 48.7% in the 3rd quarter. American Century Companies Inc. now owns 715,175 shares of the company’s stock worth $111,203,000 after purchasing an additional 234,197 shares during the period. State of Wisconsin Investment Board raised its holdings in IDEXX Laboratories by 5.7% in the 3rd quarter. State of Wisconsin Investment Board now owns 115,281 shares of the company’s stock worth $17,925,000 after purchasing an additional 6,178 shares during the period. Old Mutual Global Investors UK Ltd. raised its holdings in IDEXX Laboratories by 60.1% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 830,379 shares of the company’s stock worth $129,115,000 after purchasing an additional 311,712 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in IDEXX Laboratories by 5.5% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,406 shares of the company’s stock worth $2,084,000 after purchasing an additional 696 shares during the period. 87.63% of the stock is owned by institutional investors.

About IDEXX Laboratories

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.

Analyst Recommendations for IDEXX Laboratories (NASDAQ:IDXX)

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