Idexx Laboratories Inc. (IDXX) Reaches New 1-Year High at $93.70
Idexx Laboratories Inc. (NASDAQ:IDXX) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $93.70 and last traded at $93.57, with a volume of 618,595 shares changing hands. The stock had previously closed at $93.38.
A number of research analysts recently issued reports on the company. Zacks Investment Research cut Idexx Laboratories from a “buy” rating to a “hold” rating in a report on Monday. TheStreet raised Idexx Laboratories from a “hold” rating to a “buy” rating in a report on Friday, April 29th. Canaccord Genuity reissued a “buy” rating and set a $85.00 price objective (up from $80.00) on shares of Idexx Laboratories in a report on Tuesday, April 19th. Credit Suisse Group AG boosted their price objective on Idexx Laboratories from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, April 13th. Finally, CL King started coverage on Idexx Laboratories in a report on Friday, April 1st. They set a “neutral” rating for the company. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $81.25.
The company has a market capitalization of $8.38 billion and a P/E ratio of 45.18. The stock has a 50-day moving average of $89.50 and a 200-day moving average of $79.06.
Idexx Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Friday, April 29th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. The company had revenue of $417.55 million for the quarter, compared to the consensus estimate of $403.48 million. During the same quarter last year, the business earned $0.49 earnings per share. Idexx Laboratories’s revenue was up 9.3% compared to the same quarter last year. Equities research analysts predict that Idexx Laboratories Inc. will post $2.21 earnings per share for the current fiscal year.
In other news, Director William T. End sold 4,924 shares of the firm’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $85.87, for a total transaction of $422,823.88. Following the completion of the transaction, the director now directly owns 63,578 shares in the company, valued at $5,459,442.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several institutional investors recently modified their holdings of IDXX. California State Teachers Retirement System increased its position in shares of Idexx Laboratories by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 173,448 shares of the company’s stock worth $12,648,000 after buying an additional 2,714 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Idexx Laboratories by 6.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 37,539 shares of the company’s stock worth $2,738,000 after buying an additional 2,109 shares during the period. West Coast Financial LLC increased its position in shares of Idexx Laboratories by 2.4% in the fourth quarter. West Coast Financial LLC now owns 82,564 shares of the company’s stock worth $6,021,000 after buying an additional 1,904 shares during the period. Columbus Circle Investors increased its position in shares of Idexx Laboratories by 33.5% in the fourth quarter. Columbus Circle Investors now owns 731,103 shares of the company’s stock worth $53,312,000 after buying an additional 183,585 shares during the period. Finally, Profund Advisors LLC increased its position in shares of Idexx Laboratories by 31.9% in the fourth quarter. Profund Advisors LLC now owns 16,100 shares of the company’s stock worth $1,174,000 after buying an additional 3,893 shares during the period.
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