IDEXX Laboratories, Inc. (NASDAQ:IDXX) has received an average recommendation of “Buy” from the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $291.14.
A number of analysts have commented on IDXX shares. Guggenheim set a $310.00 price target on IDEXX Laboratories and gave the stock a “buy” rating in a research report on Friday, November 1st. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $278.00 price target for the company in a research report on Friday, January 3rd. ValuEngine cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, BidaskClub raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, January 11th.
In other news, VP Giovani Twigge sold 14,750 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $250.51, for a total value of $3,695,022.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan W. Ayers sold 62,097 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $279.57, for a total value of $17,360,458.29. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,130 shares of company stock valued at $31,118,453. 2.70% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. ARP Americas LP lifted its holdings in shares of IDEXX Laboratories by 5.0% in the 3rd quarter. ARP Americas LP now owns 2,100 shares of the company’s stock valued at $571,000 after buying an additional 100 shares during the period. National Pension Service increased its stake in shares of IDEXX Laboratories by 5.5% in the 3rd quarter. National Pension Service now owns 111,022 shares of the company’s stock valued at $30,190,000 after purchasing an additional 5,794 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of IDEXX Laboratories by 6.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 66,896 shares of the company’s stock valued at $18,191,000 after purchasing an additional 4,274 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of IDEXX Laboratories by 219.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 9,597 shares of the company’s stock valued at $2,642,000 after purchasing an additional 6,589 shares in the last quarter. Finally, Brasada Capital Management LP increased its stake in shares of IDEXX Laboratories by 1.6% in the 3rd quarter. Brasada Capital Management LP now owns 18,546 shares of the company’s stock valued at $5,043,000 after purchasing an additional 287 shares in the last quarter. 86.41% of the stock is owned by institutional investors and hedge funds.
IDXX stock traded up $1.44 on Friday, hitting $289.94. 193,550 shares of the company’s stock were exchanged, compared to its average volume of 428,202. IDEXX Laboratories has a 12-month low of $195.07 and a 12-month high of $294.57. The firm has a 50 day moving average price of $261.04 and a two-hundred day moving average price of $271.40. The company has a debt-to-equity ratio of 3.76, a quick ratio of 0.80 and a current ratio of 1.12. The stock has a market cap of $24.96 billion, a P/E ratio of 68.06 and a beta of 0.72.
IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, October 31st. The company reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.10. IDEXX Laboratories had a return on equity of 405.71% and a net margin of 17.99%. The firm had revenue of $605.30 million for the quarter, compared to the consensus estimate of $597.09 million. During the same period in the previous year, the business earned $1.05 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Sell-side analysts expect that IDEXX Laboratories will post 4.76 earnings per share for the current fiscal year.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc, together with its subsidiaries, 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 Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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