IDEXX Laboratories (NASDAQ:IDXX) Upgraded at StockNews.com

StockNews.com upgraded shares of IDEXX Laboratories (NASDAQ:IDXX) from a hold rating to a buy rating in a research note published on Friday morning.

Several other brokerages have also commented on IDXX. Morgan Stanley dropped their price target on shares of IDEXX Laboratories from $620.00 to $596.00 and set an overweight rating on the stock in a research note on Tuesday, May 14th. William Blair restated an outperform rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, Barclays dropped their price target on shares of IDEXX Laboratories from $655.00 to $570.00 and set an overweight rating on the stock in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of Moderate Buy and an average price target of $580.38.

IDEXX Laboratories Stock Down 0.4 %

IDEXX Laboratories stock opened at $504.00 on Friday. The firm has a market cap of $41.63 billion, a PE ratio of 48.79, a P/E/G ratio of 4.11 and a beta of 1.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57. The firm’s 50 day moving average price is $501.53 and its two-hundred day moving average price is $528.30. IDEXX Laboratories has a twelve month low of $372.50 and a twelve month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Wednesday, May 1st. The company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.13. The firm had revenue of $964.10 million for the quarter, compared to analyst estimates of $965.43 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. On average, research analysts predict that IDEXX Laboratories will post 11.03 EPS for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director Bruce L. Claflin sold 200 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $540.80, for a total value of $108,160.00. Following the completion of the sale, the director now directly owns 161 shares of the company’s stock, valued at approximately $87,068.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.11% of the company’s stock.

Hedge Funds Weigh In On IDEXX Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the business. Valley National Advisers Inc. boosted its position in IDEXX Laboratories by 84.6% in 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 in the last quarter. Riverview Trust Co acquired a new position in IDEXX Laboratories in the first quarter valued at about $26,000. Crewe Advisors LLC acquired a new position in IDEXX Laboratories in the first quarter valued at about $26,000. DSM Capital Partners LLC acquired a new position in IDEXX Laboratories in the fourth quarter valued at about $33,000. Finally, Private Wealth Management Group LLC acquired a new position in IDEXX Laboratories in the fourth quarter valued at about $34,000. 87.84% of the stock is owned by institutional investors.

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.