IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives $552.38 Average Target Price from Brokerages

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $552.38.

Several brokerages have recently commented on IDXX. Stifel Nicolaus lowered their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Barclays decreased their price objective 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. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday. Piper Sandler reaffirmed a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th.

Insiders Place Their Bets

In other news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the transaction, the director now owns 905 shares in the company, valued at approximately $380,498.20. This represents a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of IDEXX Laboratories by 52,746.0% during the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock worth $2,669,890,000 after acquiring an additional 527,460 shares in the last quarter. Clearbridge Investments LLC grew its holdings in IDEXX Laboratories by 696.0% during the 2nd quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock valued at $171,891,000 after buying an additional 308,493 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of IDEXX Laboratories by 3,325.0% during the third quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company’s stock valued at $111,229,000 after buying an additional 213,731 shares during the period. American Century Companies Inc. increased its position in shares of IDEXX Laboratories by 46.0% during the second quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock valued at $274,179,000 after buying an additional 177,226 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in shares of IDEXX Laboratories by 4,193.1% in the second quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company’s stock worth $62,601,000 after buying an additional 125,498 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Price Performance

IDXX stock opened at $421.75 on Friday. The company has a market capitalization of $34.54 billion, a P/E ratio of 40.67, a price-to-earnings-growth ratio of 3.68 and a beta of 1.36. IDEXX Laboratories has a 52-week low of $398.50 and a 52-week high of $583.39. The business has a 50-day simple moving average of $451.91 and a two-hundred day simple moving average of $477.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42.

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