Zacks Investment Research cut shares of IDEXX Laboratories (NASDAQ:IDXX) from a hold rating to a sell rating in a research note published on Monday.
According to Zacks, “Over the past year, IDEXX has been outperforming its industry. However, its high dependence on third-party distributors and intense competition continue to pose threats. The stock’s overvaluation is also a concern. On a positive note, the company continues to demonstrate solid growth globally on consistent consumable revenue gains. Management’s innovation-based global strategy is leading to CAG Diagnostics growth. Notably, IDEXX recently commercially launched Catalyst SDMA Test in North America. Solid organic revenue growth along with a raised guidance for 2018 buoys optimism.”
Other research analysts have also issued reports about the stock. BidaskClub lowered shares of IDEXX Laboratories from a strong-buy rating to a buy rating in a research note on Friday, February 9th. Bank of America lifted their price objective on shares of IDEXX Laboratories from $200.00 to $220.00 and gave the company a buy rating in a research note on Friday, February 2nd. Canaccord Genuity restated a buy rating and issued a $210.00 price objective on shares of IDEXX Laboratories in a research note on Monday, January 29th. Finally, Piper Jaffray lifted their price objective on shares of IDEXX Laboratories to $211.00 and gave the company an overweight rating in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $194.00.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. The company had revenue of $506.00 million for the quarter, compared to analyst estimates of $490.51 million. IDEXX Laboratories had a net margin of 13.36% and a negative return on equity of 432.19%. IDEXX Laboratories’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.58 earnings per share. equities analysts anticipate that IDEXX Laboratories will post 4.11 earnings per share for the current year.
In other news, Director William T. End sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $184.48, for a total transaction of $737,920.00. Following the transaction, the director now directly owns 41,256 shares in the company, valued at $7,610,906.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brian P. Mckeon sold 6,602 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $181.36, for a total transaction of $1,197,338.72. Following the transaction, the vice president now owns 47,040 shares in the company, valued at $8,531,174.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,576 shares of company stock worth $12,860,017. Company insiders own 2.56% of the company’s stock.
Several institutional investors have recently modified their holdings of IDXX. William Blair Investment Management LLC increased its stake in shares of IDEXX Laboratories by 219.1% during the fourth quarter. William Blair Investment Management LLC now owns 728,725 shares of the company’s stock worth $113,958,000 after acquiring an additional 500,359 shares during the period. Atlantic Trust Group LLC acquired a new position in shares of IDEXX Laboratories during the third quarter worth about $65,381,000. Renaissance Technologies LLC increased its stake in shares of IDEXX Laboratories by 18.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,879,804 shares of the company’s stock worth $293,964,000 after acquiring an additional 290,004 shares during the period. Carillon Tower Advisers Inc. acquired a new position in shares of IDEXX Laboratories during the fourth quarter worth about $38,842,000. Finally, American Century Companies Inc. boosted its holdings in IDEXX Laboratories by 32.3% during the fourth quarter. American Century Companies Inc. now owns 946,391 shares of the company’s stock worth $147,997,000 after buying an additional 231,216 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.
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About IDEXX Laboratories
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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