IDEXX Laboratories (NASDAQ:IDXX) Hits New 12-Month Low – Here’s What Happened

IDEXX Laboratories, Inc. (NASDAQ:IDXX) shares hit a new 52-week low on Thursday . The company traded as low as $401.64 and last traded at $410.98, with a volume of 75450 shares changing hands. The stock had previously closed at $418.61.

Analyst Ratings Changes

IDXX has been the subject of several research reports. Piper Sandler restated a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Barclays decreased their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. dropped their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Finally, Stifel Nicolaus reduced their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $552.38.

IDEXX Laboratories Trading Down 0.3 %

The business has a 50-day moving average price of $460.86 and a 200-day moving average price of $480.70. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $34.17 billion, a P/E ratio of 40.24, a PEG ratio of 3.63 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same quarter in the prior year, the company posted $2.53 EPS. The business’s revenue was up 6.6% on a year-over-year basis. Analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Institutional Trading of IDEXX Laboratories

A number of large investors have recently bought and sold shares of IDXX. FSA Wealth Management LLC bought a new stake in shares of IDEXX Laboratories in the 3rd quarter worth about $25,000. Ridgewood Investments LLC bought a new stake in IDEXX Laboratories during the second quarter worth about $27,000. Institutional & Family Asset Management LLC acquired a new stake in shares of IDEXX Laboratories during the second quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of IDEXX Laboratories by 5,700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after acquiring an additional 57 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after acquiring an additional 60 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Company Profile

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.