IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives $591.50 Average PT from Brokerages

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXXGet Free Report) have been given an average rating of “Moderate Buy” by the nine ratings firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $591.50.

IDXX has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Barclays upped their price target on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Piper Sandler cut shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price for the company. in a report on Tuesday, January 30th. Finally, The Goldman Sachs Group raised their target price 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.

Get Our Latest Research Report on IDXX

Insider Transactions at IDEXX Laboratories

In related news, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $573.87, for a total value of $4,704,586.26. Following the completion of the sale, the senior vice president now directly owns 6,712 shares in the company, valued at approximately $3,851,815.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 79,247 shares in the company, valued at $45,377,624.67. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP George Fennell sold 8,198 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the transaction, the senior vice president now directly owns 6,712 shares in the company, valued at $3,851,815.44. The disclosure for this sale can be found here. Insiders have sold 43,524 shares of company stock worth $24,871,960 in the last ninety days. Insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Gotham Asset Management LLC grew its position in shares of IDEXX Laboratories by 79.9% in the third quarter. Gotham Asset Management LLC now owns 17,427 shares of the company’s stock valued at $7,620,000 after purchasing an additional 7,741 shares during the last quarter. NewEdge Wealth LLC increased its position in IDEXX Laboratories by 30.4% during the 3rd quarter. NewEdge Wealth LLC now owns 639 shares of the company’s stock worth $279,000 after buying an additional 149 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of IDEXX Laboratories by 25.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 43,593 shares of the company’s stock worth $24,196,000 after buying an additional 8,831 shares in the last quarter. Carderock Capital Management Inc. boosted its position in shares of IDEXX Laboratories by 35.7% in the fourth quarter. Carderock Capital Management Inc. now owns 16,416 shares of the company’s stock valued at $9,112,000 after acquiring an additional 4,315 shares during the period. Finally, Mitchell Capital Management Co. grew its stake in shares of IDEXX Laboratories by 1.3% in the third quarter. Mitchell Capital Management Co. now owns 6,372 shares of the company’s stock valued at $2,786,000 after acquiring an additional 79 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $476.35 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. The stock has a market cap of $39.56 billion, a price-to-earnings ratio of 47.30, a PEG ratio of 3.68 and a beta of 1.26. The business has a 50 day simple moving average of $538.02 and a 200 day simple moving average of $509.39. IDEXX Laboratories has a 52-week low of $372.50 and a 52-week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXXGet Free Report) last issued its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.20. The company had revenue of $901.60 million during the quarter, compared to the consensus estimate of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 earnings per share. Analysts anticipate that IDEXX Laboratories will post 11.15 earnings per share for the current fiscal year.

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 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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Analyst Recommendations for IDEXX Laboratories (NASDAQ:IDXX)

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