Atlantic Securities Cuts IDEXX Laboratories (NASDAQ:IDXX) Price Target to $490.00

IDEXX Laboratories (NASDAQ:IDXX – Get Rating) had its price target lowered by Atlantic Securities from $500.00 to $490.00 in a research note issued to investors on Wednesday morning, MarketBeat.com reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also commented on IDXX. Bank of America lowered shares of IDEXX Laboratories from a buy rating to a neutral rating and dropped their price target for the stock from $550.00 to $470.00 in a research note on Thursday, May 5th. Stifel Nicolaus lowered shares of IDEXX Laboratories from a buy rating to a hold rating and set a $415.00 price target on the stock. in a research note on Monday, July 25th. StockNews.com lowered shares of IDEXX Laboratories from a buy rating to a hold rating in a research note on Monday, July 25th. Piper Sandler dropped their price target on shares of IDEXX Laboratories from $440.00 to $420.00 and set an overweight rating on the stock in a research note on Tuesday, July 26th. Finally, The Goldman Sachs Group upgraded shares of IDEXX Laboratories from a neutral rating to a buy rating and lowered their target price for the company from $530.00 to $435.00 in a research note on Thursday, July 21st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $519.38.

IDEXX Laboratories Stock Up 0.7 %

IDXX stock opened at $407.78 on Wednesday. IDEXX Laboratories has a 12-month low of $318.50 and a 12-month high of $698.90. The company has a quick ratio of 0.81, a current ratio of 0.89 and a debt-to-equity ratio of 1.68. The company has a market cap of $33.95 billion, a price-to-earnings ratio of 52.62, a PEG ratio of 5.36 and a beta of 1.14. The company has a 50 day moving average of $368.91 and a two-hundred day moving average of $443.56.

IDEXX Laboratories (NASDAQ:IDXX – Get Rating) last released its earnings results on Wednesday, May 4th. The company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.02. IDEXX Laboratories had a net margin of 20.07% and a return on equity of 104.47%. The company had revenue of $836.55 million during the quarter, compared to the consensus estimate of $836.47 million. During the same quarter in the prior year, the firm earned $2.35 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. On average, equities analysts anticipate that IDEXX Laboratories will post 7.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEXX Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the business. Riverview Trust Co bought a new position in shares of IDEXX Laboratories during the 1st quarter worth about $27,000. Sageworth Trust Co of South Dakota bought a new position in shares of IDEXX Laboratories during the 4th quarter worth about $47,000. Carolinas Wealth Consulting LLC bought a new position in shares of IDEXX Laboratories during the 1st quarter worth about $39,000. City State Bank bought a new position in shares of IDEXX Laboratories during the 4th quarter worth about $42,000. Finally, Confluence Wealth Services Inc. bought a new position in IDEXX Laboratories during the 4th quarter valued at about $61,000. 84.92% of the stock is owned by institutional investors.

IDEXX Laboratories Company Profile

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IDEXX Laboratories, Inc develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through CAG; Water Quality Products; LPD; and Other segments. It provides point-of-care veterinary diagnostic products, including instruments, consumables, and rapid assay test kits; veterinary reference laboratory diagnostic and consulting services; practice management and diagnostic imaging systems and services for veterinarians; and health monitoring, biological materials testing, and laboratory animal diagnostic instruments and services for biomedical research community.