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

by · The Markets Daily

IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Free Report) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $582.25.

Several equities research analysts have recently commented on the company. BTIG Research assumed coverage on IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Stifel Nicolaus cut their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, Piper Sandler cut their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th.

Get Our Latest Stock Report on IDEXX Laboratories

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IDXX. Avantax Advisory Services Inc. raised its holdings in IDEXX Laboratories by 21.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 632 shares of the company’s stock valued at $351,000 after acquiring an additional 110 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of IDEXX Laboratories by 14.5% during the 4th quarter. Quadrant Capital Group LLC now owns 662 shares of the company’s stock valued at $367,000 after buying an additional 84 shares during the period. Haverford Trust Co purchased a new stake in shares of IDEXX Laboratories during the 4th quarter valued at $213,000. Panagora Asset Management Inc. grew its stake in shares of IDEXX Laboratories by 2.8% during the 4th quarter. Panagora Asset Management Inc. now owns 1,523 shares of the company’s stock valued at $845,000 after buying an additional 41 shares during the period. Finally, Navellier & Associates Inc. purchased a new stake in shares of IDEXX Laboratories during the 4th quarter valued at $207,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $517.06 on Friday. The business’s 50 day simple moving average is $483.57 and its 200-day simple moving average is $500.01. The firm has a market capitalization of $42.70 billion, a price-to-earnings ratio of 50.05, a price-to-earnings-growth ratio of 4.17 and a beta of 1.33. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. IDEXX Laboratories has a 12 month low of $372.50 and a 12 month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. IDEXX Laboratories’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $2.67 EPS. As a group, equities analysts forecast that IDEXX Laboratories will post 10.45 earnings per share for the current fiscal year.

About IDEXX Laboratories

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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.

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