BTIG Research Initiates Coverage on IDEXX Laboratories (NASDAQ:IDXX)

Equities researchers at BTIG Research started coverage on shares of IDEXX Laboratories (NASDAQ:IDXX) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $580.00 price target on the stock. BTIG Research’s price target points to a potential upside of 23.48% from the company’s current price.

Several other brokerages have also issued reports on IDXX. Barclays cut their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Morgan Stanley cut their target price on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research note on Tuesday, May 14th. Stifel Nicolaus cut their target price on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Finally, William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average price target of $585.89.

IDEXX Laboratories Stock Down 0.2 %

IDXX stock opened at $469.71 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $493.61 and its 200 day moving average is $517.41. The stock has a market cap of $38.79 billion, a price-to-earnings ratio of 45.47, a price-to-earnings-growth ratio of 3.86 and a beta of 1.32. IDEXX Laboratories has a 1-year low of $372.50 and a 1-year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.13. The company had revenue of $964.10 million for the quarter, compared to analysts’ expectations of $965.43 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. Sell-side analysts predict that IDEXX Laboratories will post 11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Bruce L. Claflin sold 200 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $540.80, for a total transaction of $108,160.00. Following the completion of the transaction, the director now directly owns 161 shares in the company, valued at $87,068.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IDEXX Laboratories

Institutional investors have recently modified their holdings of the business. Valley National Advisers Inc. boosted its position in shares of IDEXX Laboratories by 84.6% during the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after buying an additional 22 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of IDEXX Laboratories during the first quarter valued at $26,000. Crewe Advisors LLC purchased a new stake in shares of IDEXX Laboratories during the first quarter valued at $26,000. Institutional & Family Asset Management LLC purchased a new stake in shares of IDEXX Laboratories during the second quarter valued at $28,000. Finally, DSM Capital Partners LLC purchased a new stake in shares of IDEXX Laboratories during the fourth quarter valued at $33,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

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.