BidaskClub Downgrades IDEXX Laboratories (IDXX) to Buy

IDEXX Laboratories (NASDAQ:IDXX) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

IDXX has been the subject of several other reports. Piper Jaffray Companies initiated coverage on shares of IDEXX Laboratories in a research note on Tuesday, January 16th. They set an “overweight” rating and a $200.00 price objective for the company. Aegis reissued a “sell” rating on shares of IDEXX Laboratories in a report on Friday, December 8th. Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Tuesday, October 24th. Bank of America upped their target price on shares of IDEXX Laboratories from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $185.00 price target on shares of IDEXX Laboratories in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. IDEXX Laboratories presently has a consensus rating of “Buy” and an average target price of $194.00.

IDEXX Laboratories (IDXX) opened at $172.95 on Friday. The company has a market cap of $15,084.53, a PE ratio of 54.73, a P/E/G ratio of 2.13 and a beta of 0.58. IDEXX Laboratories has a 12 month low of $140.63 and a 12 month high of $198.73. The company has a quick ratio of 0.80, a current ratio of 0.97 and a debt-to-equity ratio of -11.26.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, February 1st. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. IDEXX Laboratories had a net margin of 13.36% and a negative return on equity of 432.19%. The business had revenue of $506.00 million for the quarter, compared to the consensus estimate of $490.51 million. During the same quarter last year, the firm posted $0.58 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. analysts forecast that IDEXX Laboratories will post 4.09 earnings per share for the current fiscal year.

In other news, Director Bruce L. Claflin purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was acquired at an average price of $179.58 per share, for a total transaction of $179,580.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $179,580. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Brian P. Mckeon sold 6,602 shares of IDEXX Laboratories stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $181.36, for a total value of $1,197,338.72. Following the sale, the vice president now owns 47,040 shares of the company’s stock, valued at approximately $8,531,174.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 122,762 shares of company stock valued at $20,637,764. Corporate insiders own 2.77% of the company’s stock.

A number of large investors have recently modified their holdings of the business. D.A. Davidson & CO. lifted its stake in shares of IDEXX Laboratories by 160.4% in the 2nd quarter. D.A. Davidson & CO. now owns 625 shares of the company’s stock valued at $100,000 after purchasing an additional 385 shares in the last quarter. BB&T Investment Services Inc. purchased a new stake in IDEXX Laboratories during the 2nd quarter worth approximately $104,000. Zions Bancorporation purchased a new stake in IDEXX Laboratories during the 3rd quarter worth approximately $162,000. Benjamin F. Edwards & Company Inc. increased its holdings in IDEXX Laboratories by 1,000.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,100 shares of the company’s stock worth $172,000 after purchasing an additional 1,000 shares during the last quarter. Finally, SignalPoint Asset Management LLC purchased a new stake in IDEXX Laboratories during the 4th quarter worth approximately $200,000. 86.72% of the stock is currently owned by hedge funds and other institutional investors.

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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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