IDEXX Laboratories, Inc. (NASDAQ:IDXX) Given Average Recommendation of “Moderate Buy” by Brokerages

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has earned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $546.00.

Several research firms have recently commented on IDXX. Stifel Nicolaus upped their price objective on IDEXX Laboratories from $460.00 to $510.00 and gave the stock a “hold” rating in a research note on Monday, May 19th. Morgan Stanley increased their price target on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Leerink Partners increased their price objective on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, June 11th. Finally, Wall Street Zen downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Friday, May 30th.

Insider Activity at IDEXX Laboratories

In related news, Director M Anne Szostak sold 1,046 shares of IDEXX Laboratories stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $513.74, for a total value of $537,372.04. Following the sale, the director now directly owns 262 shares in the company, valued at approximately $134,599.88. The trade was a 79.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC lifted its stake in IDEXX Laboratories by 10.2% during the fourth quarter. Empowered Funds LLC now owns 1,443 shares of the company’s stock worth $597,000 after purchasing an additional 133 shares in the last quarter. Allworth Financial LP increased its position in shares of IDEXX Laboratories by 61.2% during the fourth quarter. Allworth Financial LP now owns 1,507 shares of the company’s stock worth $649,000 after acquiring an additional 572 shares during the period. J.W. Cole Advisors Inc. increased its position in shares of IDEXX Laboratories by 4.5% during the fourth quarter. J.W. Cole Advisors Inc. now owns 2,760 shares of the company’s stock worth $1,141,000 after acquiring an additional 118 shares during the period. CIBC Asset Management Inc increased its position in shares of IDEXX Laboratories by 3.1% during the fourth quarter. CIBC Asset Management Inc now owns 26,366 shares of the company’s stock worth $10,901,000 after acquiring an additional 788 shares during the period. Finally, Truist Financial Corp increased its position in shares of IDEXX Laboratories by 13.9% during the fourth quarter. Truist Financial Corp now owns 27,784 shares of the company’s stock worth $11,487,000 after acquiring an additional 3,382 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Up 1.2%

NASDAQ IDXX opened at $528.77 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The stock has a market capitalization of $42.52 billion, a PE ratio of 49.56, a PEG ratio of 3.41 and a beta of 1.55. IDEXX Laboratories has a 1 year low of $356.14 and a 1 year high of $530.73. The business’s 50-day moving average is $476.46 and its 200 day moving average is $445.36.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The firm had revenue of $998.43 million for the quarter, compared to analysts’ expectations of $998.25 million. During the same period in the previous year, the firm posted $2.71 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts forecast that IDEXX Laboratories will post 11.93 earnings per share for the current year.

About IDEXX Laboratories

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.