IDEXX Laboratories, Inc. (NASDAQ:IDXX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $539.63.

A number of research analysts recently issued reports on the stock. Leerink Partners began coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective on the stock. Barclays lowered their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. reduced their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Finally, Piper Sandler reiterated a “neutral” rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th.

Insider Activity

In related news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction that occurred on 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 $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

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

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $412.75 on Tuesday. The company has a market cap of $33.80 billion, a price-to-earnings ratio of 39.80, a PEG ratio of 3.94 and a beta of 1.37. IDEXX Laboratories has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The stock has a fifty day moving average price of $427.86 and a 200-day moving average price of $464.82.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same quarter in the prior year, the business posted $2.53 earnings per share. IDEXX Laboratories’s revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts anticipate that IDEXX Laboratories will post 10.44 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.