Brokerages Set IDEXX Laboratories, Inc. (NASDAQ:IDXX) Target Price at $582.25

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has been assigned an average rating of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $582.25.

IDXX has been the subject of several recent research reports. BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target for the company. Piper Sandler reduced their target price on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus cut their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th.

IDEXX Laboratories Trading Down 2.0 %

NASDAQ IDXX opened at $506.74 on Friday. The firm’s fifty day moving average is $483.85 and its two-hundred day moving average is $499.16. IDEXX Laboratories has a one year low of $372.50 and a one year high of $583.39. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. The firm has a market cap of $41.85 billion, a PE ratio of 49.06, a P/E/G ratio of 4.17 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company earned $2.67 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. Analysts expect that IDEXX Laboratories will post 10.45 earnings per share for the current year.

Hedge Funds Weigh In On IDEXX Laboratories

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in IDEXX Laboratories by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after acquiring an additional 98,387 shares during the period. Franklin Resources Inc. grew its position in shares of IDEXX Laboratories by 2.1% in the fourth quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock valued at $780,303,000 after purchasing an additional 28,475 shares during the period. Capital World Investors increased its stake in IDEXX Laboratories by 1.1% in the fourth quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock valued at $567,648,000 after purchasing an additional 11,351 shares during the last quarter. Norges Bank purchased a new position in IDEXX Laboratories during the fourth quarter worth about $512,190,000. Finally, American Century Companies Inc. boosted its stake 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 last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

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.