IDEXX Laboratories (NASDAQ:IDXX) Receives Neutral Rating from Piper Sandler

Piper Sandler restated their neutral rating on shares of IDEXX Laboratories (NASDAQ:IDXX) in a research note published on Monday, Benzinga reports. Piper Sandler currently has a $435.00 price objective on the stock, down from their previous price objective of $520.00.

Several other research firms also recently issued reports on IDXX. BTIG Research started coverage on IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target on the stock. Barclays dropped their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday. Stifel Nicolaus decreased their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $552.38.

IDEXX Laboratories Stock Performance

IDXX opened at $423.42 on Monday. The business’s 50-day moving average price is $474.87 and its two-hundred day moving average price is $485.88. IDEXX Laboratories has a 1 year low of $404.74 and a 1 year high of $583.39. The company has a market capitalization of $34.67 billion, a price-to-earnings ratio of 40.83, a P/E/G ratio of 3.61 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03.

IDEXX Laboratories (NASDAQ:IDXX) last released 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 return on equity of 55.42% and a net margin of 22.53%. The firm had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. During the same quarter last year, the business posted $2.53 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts expect that IDEXX Laboratories will post 10.45 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEXX Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the business. Crewe Advisors LLC acquired a new stake in shares of IDEXX Laboratories in the first quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new stake in shares of IDEXX Laboratories during the second quarter worth $27,000. Institutional & Family Asset Management LLC bought a new stake in shares of IDEXX Laboratories during the second quarter worth $28,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of IDEXX Laboratories by 5,700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after buying an additional 57 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of IDEXX Laboratories by 750.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after buying an additional 60 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

About IDEXX Laboratories

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.