IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been given an average recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $574.13.

Several research firms have recently commented on IDXX. JPMorgan Chase & Co. lowered their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday. BTIG Research began coverage on IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price for the company. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Stifel Nicolaus lowered their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Finally, Piper Sandler decreased their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th.

Hedge Funds Weigh In On IDEXX Laboratories

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IDXX. Clearbridge Investments LLC boosted its stake in IDEXX Laboratories by 696.0% during the 2nd quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock valued at $171,891,000 after purchasing an additional 308,493 shares in the last quarter. American Century Companies Inc. boosted its stake in IDEXX Laboratories by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock valued at $274,179,000 after purchasing an additional 177,226 shares in the last quarter. Point72 Asset Management L.P. bought a new position in IDEXX Laboratories during the 4th quarter valued at $78,001,000. 1832 Asset Management L.P. boosted its stake in IDEXX Laboratories by 4,193.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company’s stock valued at $62,601,000 after purchasing an additional 125,498 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in IDEXX Laboratories during the 1st quarter valued at $55,425,000. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Trading Up 0.4 %

Shares of NASDAQ IDXX opened at $478.00 on Thursday. The stock’s 50 day moving average price is $488.46 and its two-hundred day moving average price is $493.17. IDEXX Laboratories has a 52-week low of $372.50 and a 52-week high of $583.39. The stock has a market capitalization of $39.48 billion, a P/E ratio of 46.27, a PEG ratio of 4.14 and a beta of 1.33. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 earnings per share (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 firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the company earned $2.67 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts anticipate that IDEXX Laboratories will post 10.44 earnings per share for the current fiscal year.

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.