IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives $523.86 Consensus Price Target from Brokerages

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $523.86.

A number of equities analysts have commented on IDXX shares. Barclays cut their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. decreased their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Stifel Nicolaus dropped their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Leerink Partners assumed coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective on the stock. Finally, Piper Sandler reissued a “neutral” rating and issued a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the transaction, the director now owns 905 shares of the company’s stock, valued at $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in IDEXX Laboratories by 52,746.0% during the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock worth $2,669,890,000 after purchasing an additional 527,460 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of IDEXX Laboratories by 265.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock worth $179,867,000 after acquiring an additional 316,048 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of IDEXX Laboratories by 696.0% in the 2nd 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 period. Seilern Investment Management Ltd acquired a new position in shares of IDEXX Laboratories during the 4th quarter valued at $113,104,000. Finally, Vontobel Holding Ltd. boosted its position 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 purchasing an additional 213,731 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Up 0.7 %

IDXX opened at $435.33 on Friday. IDEXX Laboratories has a one year low of $398.50 and a one year 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 market capitalization of $35.65 billion, a P/E ratio of 41.98, a price-to-earnings-growth ratio of 3.63 and a beta of 1.36. The business’s 50-day simple moving average is $423.45 and its 200-day simple moving average is $456.68.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.11. The company 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%. IDEXX Laboratories’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm posted $2.53 EPS. Analysts anticipate that IDEXX Laboratories will post 10.44 EPS for the current year.

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.