BidaskClub Upgrades IDEXX Laboratories (IDXX) to “Buy”

IDEXX Laboratories (NASDAQ:IDXX) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Other analysts also recently issued research reports about the stock. Piper Jaffray Companies began coverage on shares of IDEXX Laboratories in a research report on Tuesday. They issued an “overweight” rating and a $200.00 price target for the company. Stifel Nicolaus reissued a “buy” rating and issued a $185.00 price target on shares of IDEXX Laboratories in a research report on Tuesday, October 24th. Zacks Investment Research downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Aegis reissued a “sell” rating on shares of IDEXX Laboratories in a research report on Friday, December 8th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $180.00 price target on shares of IDEXX Laboratories in a research report on Friday, October 6th. Two analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $177.43.

Shares of IDEXX Laboratories (IDXX) opened at $176.10 on Tuesday. The firm has a market cap of $15,360.00, a price-to-earnings ratio of 57.18, a PEG ratio of 2.34 and a beta of 0.42. The company has a debt-to-equity ratio of -12.48, a current ratio of 0.95 and a quick ratio of 0.77. IDEXX Laboratories has a one year low of $116.54 and a one year high of $177.25.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Tuesday, October 31st. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.05. The company had revenue of $492.00 million during the quarter, compared to analyst estimates of $492.94 million. IDEXX Laboratories had a net margin of 14.55% and a negative return on equity of 336.64%. IDEXX Laboratories’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 EPS. analysts expect that IDEXX Laboratories will post 3.24 earnings per share for the current fiscal year.

In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 54,000 shares of IDEXX Laboratories stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $151.32, for a total transaction of $8,171,280.00. Following the transaction, the chairman now directly owns 1,064,573 shares of the company’s stock, valued at approximately $161,091,186.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan W. Ayers sold 18,000 shares of IDEXX Laboratories stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $153.75, for a total transaction of $2,767,500.00. Following the transaction, the chief executive officer now directly owns 1,064,573 shares in the company, valued at $163,678,098.75. The disclosure for this sale can be found here. In the last three months, insiders sold 130,160 shares of company stock valued at $20,019,685. 2.77% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of IDXX. D.A. Davidson & CO. boosted its holdings in IDEXX Laboratories by 160.4% during the 2nd quarter. D.A. Davidson & CO. now owns 625 shares of the company’s stock worth $100,000 after acquiring an additional 385 shares during the last quarter. Sun Life Financial INC boosted its holdings in IDEXX Laboratories by 9,085.7% during the 2nd quarter. Sun Life Financial INC now owns 643 shares of the company’s stock worth $104,000 after acquiring an additional 636 shares during the last quarter. BB&T Investment Services Inc. purchased a new position in IDEXX Laboratories during the 2nd quarter worth $104,000. Zions Bancorporation purchased a new position in IDEXX Laboratories during the 3rd quarter worth $162,000. Finally, BB&T Securities LLC purchased a new position in IDEXX Laboratories during the 3rd quarter worth $213,000. 86.66% of the stock is currently owned by hedge funds and other institutional investors.

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IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.

Analyst Recommendations for IDEXX Laboratories (NASDAQ:IDXX)

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