Analysts Set IDEXX Laboratories, Inc. (NASDAQ:IDXX) Price Target at $539.63

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has received a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $539.63.

Several equities analysts recently weighed in on IDXX shares. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Piper Sandler restated a “neutral” rating and issued a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Leerink Partners began coverage on IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target for the company. Barclays dropped their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the transaction, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IDXX. Geode Capital Management LLC lifted its holdings in IDEXX Laboratories by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock valued at $1,138,732,000 after purchasing an additional 40,349 shares during the last quarter. Franklin Resources Inc. raised its position in shares of IDEXX Laboratories by 2.5% in the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock valued at $675,259,000 after purchasing an additional 34,305 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of IDEXX Laboratories by 0.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company’s stock valued at $379,875,000 after buying an additional 2,463 shares in the last quarter. American Century Companies Inc. boosted its holdings in IDEXX Laboratories by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after buying an additional 177,226 shares during the period. Finally, International Assets Investment Management LLC grew its stake in IDEXX Laboratories by 52,746.0% in the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock valued at $2,669,890,000 after buying an additional 527,460 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 0.5 %

Shares of NASDAQ:IDXX opened at $414.93 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. IDEXX Laboratories has a 52-week low of $398.50 and a 52-week high of $583.39. The business’s 50 day simple moving average is $428.68 and its two-hundred day simple moving average is $465.82. The firm has a market cap of $33.98 billion, a P/E ratio of 40.01, a PEG ratio of 3.99 and a beta of 1.37.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same quarter last year, the firm posted $2.53 EPS. IDEXX Laboratories’s revenue was up 6.6% compared to the same quarter last year. As a group, research analysts forecast that IDEXX Laboratories will post 10.44 EPS for the current fiscal year.

IDEXX Laboratories Company Profile

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.