BidaskClub Upgrades IDEXX Laboratories (IDXX) to “Hold”

IDEXX Laboratories (NASDAQ:IDXX) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

IDXX has been the subject of several other reports. Canaccord Genuity restated a “buy” rating and set a $180.00 target price on shares of IDEXX Laboratories in a research note on Friday, October 6th. Aegis restated a “sell” rating on shares of IDEXX Laboratories in a research note on Friday, December 8th. Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research note on Tuesday, October 24th. Finally, Stifel Nicolaus restated a “buy” rating and set a $185.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $173.67.

Shares of IDEXX Laboratories (NASDAQ:IDXX) opened at $166.60 on Friday. The company has a debt-to-equity ratio of -12.48, a quick ratio of 0.77 and a current ratio of 0.95. The firm has a market capitalization of $14,760.00, a PE ratio of 54.09, a PEG ratio of 2.25 and a beta of 0.42. IDEXX Laboratories has a 52 week low of $115.30 and a 52 week high of $173.01.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Tuesday, October 31st. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.05. The company had revenue of $492.00 million during the quarter, compared to the consensus estimate of $492.94 million. IDEXX Laboratories had a negative return on equity of 336.64% and a net margin of 14.55%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. sell-side analysts predict that IDEXX Laboratories will post 3.24 EPS for the current fiscal year.

In related news, insider Giovani Twigge sold 2,000 shares of IDEXX Laboratories stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $156.07, for a total value of $312,140.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan W. Ayers sold 18,000 shares of IDEXX Laboratories stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $153.75, for a total value of $2,767,500.00. Following the completion of the transaction, the chief executive officer now owns 1,064,573 shares of the company’s stock, valued at $163,678,098.75. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock valued at $16,686,200 over the last quarter. Insiders own 2.77% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Atlantic Trust Group LLC acquired a new position in IDEXX Laboratories in the third quarter valued at approximately $65,381,000. GSA Capital Partners LLP boosted its stake in IDEXX Laboratories by 77.6% in the third quarter. GSA Capital Partners LLP now owns 10,727 shares of the company’s stock valued at $1,668,000 after acquiring an additional 4,688 shares during the period. IFM Investors Pty Ltd acquired a new position in IDEXX Laboratories in the third quarter valued at approximately $337,000. California Public Employees Retirement System boosted its stake in IDEXX Laboratories by 1.7% in the third quarter. California Public Employees Retirement System now owns 281,476 shares of the company’s stock valued at $43,767,000 after acquiring an additional 4,776 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in IDEXX Laboratories by 56.3% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,774 shares of the company’s stock valued at $1,053,000 after acquiring an additional 2,441 shares during the period. Institutional investors own 86.61% of the company’s stock.

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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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