IDEXX Laboratories (NASDAQ:IDXX) Now Covered by Analysts at Leerink Partners

Investment analysts at Leerink Partners assumed coverage on shares of IDEXX Laboratories (NASDAQ:IDXX) in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $500.00 price target on the stock. Leerink Partners’ price target indicates a potential upside of 18.55% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Stifel Nicolaus decreased their target price 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. JPMorgan Chase & Co. decreased their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Barclays dropped their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report 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. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $546.56.

IDEXX Laboratories Stock Performance

IDXX stock opened at $421.75 on Monday. IDEXX Laboratories has a twelve month low of $398.50 and a twelve month high of $583.39. The firm has a market cap of $34.54 billion, a price-to-earnings ratio of 40.67, a PEG ratio of 3.68 and a beta of 1.36. The business’s fifty day simple moving average is $451.91 and its two-hundred day simple moving average is $477.31. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32.

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

Insider Transactions at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.11% of the company’s stock.

Institutional Trading of IDEXX Laboratories

A number of hedge funds have recently modified their holdings of IDXX. Cetera Investment Advisers grew its position in IDEXX Laboratories by 294.8% during the first quarter. Cetera Investment Advisers now owns 20,129 shares of the company’s stock valued at $10,868,000 after buying an additional 15,030 shares during the period. Mather Group LLC. grew its position in shares of IDEXX Laboratories by 4.2% during the 2nd quarter. Mather Group LLC. now owns 594 shares of the company’s stock valued at $321,000 after acquiring an additional 24 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of IDEXX Laboratories by 11.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 917 shares of the company’s stock valued at $447,000 after purchasing an additional 92 shares in the last quarter. CWM LLC increased its stake in shares of IDEXX Laboratories by 0.8% in the 2nd quarter. CWM LLC now owns 3,724 shares of the company’s stock valued at $1,814,000 after purchasing an additional 28 shares in the last quarter. Finally, RDA Financial Network raised its holdings in IDEXX Laboratories by 26.1% in the 2nd quarter. RDA Financial Network now owns 1,414 shares of the company’s stock worth $689,000 after purchasing an additional 293 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

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.