Stifel Nicolaus Cuts IDEXX Laboratories (NASDAQ:IDXX) Price Target to $510.00

IDEXX Laboratories (NASDAQ:IDXX) had its target price reduced by Stifel Nicolaus from $520.00 to $510.00 in a report published on Monday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other analysts also recently commented on the stock. William Blair reaffirmed an outperform rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. StockNews.com raised shares of IDEXX Laboratories from a hold rating to a buy rating in a report on Friday, June 14th. Barclays reduced their target price on shares of IDEXX Laboratories from $655.00 to $570.00 and set an overweight rating for the company in a report on Thursday, May 2nd. Finally, Morgan Stanley reduced their target price on shares of IDEXX Laboratories from $620.00 to $596.00 and set an overweight rating for the company in a report on Tuesday, May 14th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, IDEXX Laboratories currently has an average rating of Moderate Buy and an average target price of $586.63.

IDEXX Laboratories Stock Down 0.5 %

IDEXX Laboratories stock opened at $488.61 on Monday. The firm has a market capitalization of $40.35 billion, a PE ratio of 47.30, a P/E/G ratio of 4.01 and a beta of 1.33. The company’s 50-day moving average is $500.84 and its 200-day moving average is $527.78. IDEXX Laboratories has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.16.

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, topping the consensus estimate of $2.68 by $0.13. The company 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%. Sell-side analysts anticipate that IDEXX Laboratories will post 11.03 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Bruce L. Claflin sold 200 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were 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 approximately $87,068.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IDEXX Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Patron Partners LLC increased its position in IDEXX Laboratories by 2.7% in the 4th quarter. Patron Partners LLC now owns 765 shares of the company’s stock valued at $425,000 after acquiring an additional 20 shares during the period. NewEdge Wealth LLC increased its position in IDEXX Laboratories by 3.1% in the 4th quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock valued at $366,000 after acquiring an additional 20 shares during the period. Manchester Capital Management LLC increased its position in IDEXX Laboratories by 11.9% in the 4th quarter. Manchester Capital Management LLC now owns 188 shares of the company’s stock valued at $104,000 after acquiring an additional 20 shares during the period. Phoenix Holdings Ltd. increased its position in IDEXX Laboratories by 2.8% in the 3rd quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock valued at $338,000 after acquiring an additional 21 shares during the period. Finally, BluePath Capital Management LLC increased its position in IDEXX Laboratories by 1.8% in the 4th quarter. BluePath Capital Management LLC now owns 1,197 shares of the company’s stock valued at $663,000 after acquiring an additional 21 shares during the period. 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.