Stifel Nicolaus Lowers IDEXX Laboratories (NASDAQ:IDXX) to Hold

Stifel Nicolaus cut shares of IDEXX Laboratories (NASDAQ:IDXXGet Rating) from a buy rating to a hold rating in a research note issued to investors on Wednesday. The brokerage currently has $415.00 price target on the stock.

IDXX has been the topic of several other reports. Piper Sandler lowered their price target on shares of IDEXX Laboratories from $440.00 to $420.00 and set an overweight rating on the stock in a report on Tuesday, July 26th. Bank of America cut shares of IDEXX Laboratories from a buy rating to a neutral rating and lowered their price target for the company from $550.00 to $470.00 in a report on Thursday, May 5th. Atlantic Securities decreased their target price on shares of IDEXX Laboratories from $500.00 to $490.00 and set an overweight rating on the stock in a research report on Wednesday. StockNews.com lowered shares of IDEXX Laboratories from a buy rating to a hold rating in a research report on Monday, July 25th. Finally, The Goldman Sachs Group upgraded shares of IDEXX Laboratories from a neutral rating to a buy rating and decreased their target price for the stock from $530.00 to $435.00 in a research report on Thursday, July 21st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $519.38.

IDEXX Laboratories Stock Up 0.7 %

Shares of IDXX stock opened at $407.78 on Wednesday. The stock has a market cap of $33.95 billion, a price-to-earnings ratio of 52.62, a PEG ratio of 5.36 and a beta of 1.14. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.81 and a current ratio of 0.89. IDEXX Laboratories has a 52-week low of $318.50 and a 52-week high of $698.90. The firm’s 50-day moving average is $368.91 and its 200-day moving average is $443.56.

IDEXX Laboratories (NASDAQ:IDXXGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.02. The firm had revenue of $836.55 million for the quarter, compared to analysts’ expectations of $836.47 million. IDEXX Laboratories had a net margin of 20.07% and a return on equity of 104.47%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.35 EPS. Sell-side analysts predict that IDEXX Laboratories will post 7.97 EPS for the current year.

Institutional Trading of IDEXX Laboratories

Several large investors have recently made changes to their positions in the company. Heartland Bank & Trust Co boosted its position in shares of IDEXX Laboratories by 2.2% during the 4th quarter. Heartland Bank & Trust Co now owns 938 shares of the company’s stock worth $618,000 after acquiring an additional 20 shares in the last quarter. First National Bank of Hutchinson lifted its stake in IDEXX Laboratories by 1.8% in the 4th quarter. First National Bank of Hutchinson now owns 1,121 shares of the company’s stock valued at $738,000 after purchasing an additional 20 shares during the last quarter. Mission Wealth Management LP lifted its stake in IDEXX Laboratories by 1.7% in the 4th quarter. Mission Wealth Management LP now owns 1,463 shares of the company’s stock valued at $963,000 after purchasing an additional 24 shares during the last quarter. Freestone Capital Holdings LLC lifted its stake in IDEXX Laboratories by 3.7% in the 4th quarter. Freestone Capital Holdings LLC now owns 699 shares of the company’s stock valued at $460,000 after purchasing an additional 25 shares during the last quarter. Finally, American National Bank lifted its stake in IDEXX Laboratories by 18.5% in the 1st quarter. American National Bank now owns 160 shares of the company’s stock valued at $88,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 84.92% of the company’s stock.

About IDEXX Laboratories

(Get Rating)

IDEXX Laboratories, Inc develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through CAG; Water Quality Products; LPD; and Other segments. It provides point-of-care veterinary diagnostic products, including instruments, consumables, and rapid assay test kits; veterinary reference laboratory diagnostic and consulting services; practice management and diagnostic imaging systems and services for veterinarians; and health monitoring, biological materials testing, and laboratory animal diagnostic instruments and services for biomedical research community.

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