StockNews.com Upgrades IDEXX Laboratories (NASDAQ:IDXX) to Buy

StockNews.com upgraded shares of IDEXX Laboratories (NASDAQ:IDXX) from a hold rating to a buy rating in a research note published on Thursday.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus cut their price target 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. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Barclays cut their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories Stock Down 0.0 %

IDXX stock opened at $421.75 on Thursday. The company has a market cap of $34.54 billion, a price-to-earnings ratio of 40.67, a P/E/G ratio of 3.68 and a beta of 1.36. IDEXX Laboratories has a twelve month low of $398.50 and a twelve month high of $583.39. The business has a 50 day moving average price of $451.91 and a two-hundred day moving average price of $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 EPS for the quarter, beating the consensus estimate of $2.69 by $0.11. The firm had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company’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 earnings per share. Analysts anticipate that IDEXX Laboratories will post 10.43 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories 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 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 this link. 2.11% of the stock is currently owned by company insiders.

Institutional Trading of IDEXX Laboratories

Hedge funds have recently made changes to their positions in the company. American Trust purchased a new stake in IDEXX Laboratories in the 3rd quarter worth about $757,000. Franklin Resources Inc. boosted its position in IDEXX Laboratories by 2.5% during the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after purchasing an additional 34,305 shares during the period. Tidal Investments LLC increased its stake in shares of IDEXX Laboratories by 7.6% in the third quarter. Tidal Investments LLC now owns 6,310 shares of the company’s stock worth $3,188,000 after purchasing an additional 444 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of IDEXX Laboratories by 20.4% in the third quarter. Sanctuary Advisors LLC now owns 3,288 shares of the company’s stock valued at $1,661,000 after purchasing an additional 558 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of IDEXX Laboratories by 1.9% during the 3rd quarter. Toronto Dominion Bank now owns 42,283 shares of the company’s stock valued at $21,362,000 after buying an additional 808 shares in 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.