IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives $591.50 Consensus PT from Analysts

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have earned an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $591.50.

Several research analysts have recently commented on IDXX shares. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. The Goldman Sachs Group boosted their target price on IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Barclays boosted their target price on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. boosted their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Finally, Piper Sandler downgraded IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price on the stock. in a research note on Tuesday, January 30th.

IDEXX Laboratories Trading Up 0.1 %

Shares of NASDAQ IDXX opened at $494.26 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.42. The business has a fifty day simple moving average of $533.74 and a two-hundred day simple moving average of $510.50. The firm has a market cap of $41.05 billion, a PE ratio of 49.08, a price-to-earnings-growth ratio of 3.69 and a beta of 1.26. IDEXX Laboratories has a twelve month low of $372.50 and a twelve month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, February 5th. The company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.12 by $0.20. The firm had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 EPS. Analysts expect that IDEXX Laboratories will post 11.15 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the sale, the chief executive officer now owns 79,247 shares in the company, valued at approximately $45,377,624.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total value of $13,296,053.26. Following the completion of the transaction, the chief financial officer now owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the transaction, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,524 shares of company stock worth $24,871,960. 2.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IDEXX Laboratories

Institutional investors and hedge funds have recently modified their holdings of the stock. Portside Wealth Group LLC acquired a new position in IDEXX Laboratories in the 2nd quarter worth about $206,000. National Bank of Canada FI raised its holdings in IDEXX Laboratories by 13.4% in the 3rd quarter. National Bank of Canada FI now owns 30,209 shares of the company’s stock worth $13,018,000 after purchasing an additional 3,568 shares during the period. International Assets Investment Management LLC raised its holdings in IDEXX Laboratories by 115.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,059 shares of the company’s stock worth $463,000 after purchasing an additional 568 shares during the period. Vontobel Holding Ltd. raised its holdings in IDEXX Laboratories by 8.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 7,342 shares of the company’s stock worth $3,210,000 after purchasing an additional 579 shares during the period. Finally, Dynamic Advisor Solutions LLC raised its holdings in IDEXX Laboratories by 2.4% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 1,100 shares of the company’s stock worth $481,000 after purchasing an additional 26 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

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.