IDEXX Laboratories (NASDAQ:IDXX) Downgraded by Piper Sandler to Neutral

Piper Sandler cut shares of IDEXX Laboratories (NASDAQ:IDXXFree Report) from an overweight rating to a neutral rating in a research report report published on Tuesday morning, Marketbeat Ratings reports. Piper Sandler currently has $525.00 price objective on the stock.

A number of other brokerages also recently commented on IDXX. William Blair restated an outperform rating on shares of IDEXX Laboratories in a research note on Friday, January 5th. Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $500.00 to $460.00 and set a hold rating on the stock in a report on Monday, October 30th. StockNews.com raised shares of IDEXX Laboratories from a hold rating to a buy rating in a research report on Wednesday, December 20th. BNP Paribas assumed coverage on shares of IDEXX Laboratories in a research report on Thursday, December 7th. They set an outperform rating and a $602.00 target price for the company. Finally, The Goldman Sachs Group upped their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a buy rating in a research report on Wednesday, January 17th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $573.63.

Read Our Latest Analysis on IDEXX Laboratories

IDEXX Laboratories Trading Down 2.1 %

NASDAQ:IDXX opened at $521.03 on Tuesday. The business’s 50-day moving average is $528.40 and its two-hundred day moving average is $490.81. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.43 and a quick ratio of 1.02. IDEXX Laboratories has a 12 month low of $372.50 and a 12 month high of $568.30. The firm has a market capitalization of $43.27 billion, a PE ratio of 53.17, a price-to-earnings-growth ratio of 2.66 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXXGet Free Report) last announced its earnings results on Wednesday, November 1st. The company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.16. The company had revenue of $915.53 million during the quarter, compared to the consensus estimate of $926.88 million. IDEXX Laboratories had a return on equity of 85.68% and a net margin of 22.93%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $2.15 earnings per share. Research analysts predict that IDEXX Laboratories will post 9.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jonathan Jay Mazelsky sold 7,128 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $513.05, for a total transaction of $3,657,020.40. Following the sale, the chief executive officer now directly owns 79,233 shares of the company’s stock, valued at $40,650,490.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jonathan Jay Mazelsky sold 7,128 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $513.05, for a total transaction of $3,657,020.40. Following the sale, the chief executive officer now directly owns 79,233 shares of the company’s stock, valued at $40,650,490.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James F. Polewaczyk sold 11,636 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $521.79, for a total transaction of $6,071,548.44. Following the sale, the executive vice president now directly owns 10,050 shares in the company, valued at $5,243,989.50. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

Hedge funds have recently bought and sold shares of the company. Valley National Advisers Inc. grew its position in IDEXX Laboratories by 84.6% in the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after purchasing an additional 22 shares in the last quarter. Arlington Partners LLC grew its position in IDEXX Laboratories by 233.3% in the second quarter. Arlington Partners LLC now owns 50 shares of the company’s stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in IDEXX Laboratories in the third quarter valued at $26,000. OFI Invest Asset Management bought a new position in IDEXX Laboratories in the third quarter valued at $25,000. Finally, Venturi Wealth Management LLC grew its position in IDEXX Laboratories by 226.3% in the fourth quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock valued at $34,000 after purchasing an additional 43 shares in the last quarter. 86.85% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Company Profile

(Get Free Report)

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.

Further Reading

Analyst Recommendations for IDEXX Laboratories (NASDAQ:IDXX)

Receive News & Ratings for IDEXX Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEXX Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.