IDEXX Laboratories (NASDAQ:IDXX) Price Target Raised to $558.00

IDEXX Laboratories (NASDAQ:IDXX) had its price target upped by Morgan Stanley from $548.00 to $558.00 in a report issued on Monday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other brokerages have also commented on IDXX. Bank of America upped their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Piper Sandler increased their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, April 12th. Stifel Nicolaus reduced their price objective on IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Finally, Barclays boosted their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus target price of $524.75.

IDEXX Laboratories Stock Up 2.7 %

Shares of NASDAQ IDXX opened at $486.61 on Monday. The firm’s 50 day moving average price is $421.25 and its 200 day moving average price is $428.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The firm has a market cap of $39.43 billion, a P/E ratio of 45.61, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52. IDEXX Laboratories has a 1 year low of $356.14 and a 1 year high of $548.88.

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

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $465.94, for a total value of $1,397,820.00. Following the transaction, the director now owns 3,061 shares in the company, valued at $1,426,242.34. The trade was a 49.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $462.53, for a total value of $4,618,824.58. Following the sale, the executive vice president now owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

Institutional Trading of IDEXX Laboratories

A number of hedge funds have recently made changes to their positions in the stock. MorganRosel Wealth Management LLC acquired a new position in IDEXX Laboratories during the 1st quarter worth $26,000. Hurley Capital LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter worth about $29,000. Rialto Wealth Management LLC bought a new stake in IDEXX Laboratories in the fourth quarter valued at about $30,000. Retirement Wealth Solutions LLC acquired a new stake in IDEXX Laboratories during the fourth quarter valued at approximately $31,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock worth $35,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

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.