IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives Average Rating of “Moderate Buy” from Brokerages

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has received an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $591.50.

A number of equities research analysts have weighed in on the company. Piper Sandler lowered IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective for the company. in a research note on Tuesday, January 30th. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, December 20th. Barclays boosted their price target on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. The Goldman Sachs Group increased 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. Finally, JPMorgan Chase & Co. boosted their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th.

Insider Transactions at IDEXX Laboratories

In other news, SVP George Fennell sold 8,198 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 6,712 shares in the company, valued at $3,851,815.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP George Fennell sold 8,198 shares of the stock in a transaction on Thursday, February 8th. The stock was 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 owns 6,712 shares in the company, valued at $3,851,815.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories 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 owns 79,247 shares in the company, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. Insiders have sold 43,524 shares of company stock valued at $24,871,960 over the last three months. Company insiders own 2.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Moneta Group Investment Advisors LLC boosted its stake in shares of IDEXX Laboratories by 121,647.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,447,279 shares of the company’s stock worth $3,038,192,000 after acquiring an additional 7,441,162 shares in the last quarter. Norges Bank bought a new stake in shares of IDEXX Laboratories during the 4th quarter worth $512,190,000. International Assets Investment Management LLC grew its stake in IDEXX Laboratories by 51,631.3% in the 4th quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock valued at $304,075,000 after buying an additional 546,775 shares during the last quarter. Morgan Stanley lifted its position in IDEXX Laboratories by 36.0% during the 4th quarter. Morgan Stanley now owns 986,232 shares of the company’s stock worth $402,344,000 after acquiring an additional 260,926 shares during the last quarter. Finally, Capital Research Global Investors acquired a new position in shares of IDEXX Laboratories during the 4th quarter worth about $135,910,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 2.3 %

Shares of NASDAQ:IDXX opened at $478.24 on Thursday. The company has a 50 day moving average of $541.86 and a two-hundred day moving average of $508.71. IDEXX Laboratories has a 52-week low of $372.50 and a 52-week high of $583.39. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $39.72 billion, a price-to-earnings ratio of 47.49, a price-to-earnings-growth ratio of 3.78 and a beta of 1.26.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results 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 firm had revenue of $901.60 million for 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 quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 EPS. As a group, analysts forecast that IDEXX Laboratories will post 11.15 earnings per share 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.