IDEXX Laboratories, Inc. (NASDAQ:IDXX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXXGet Rating) have earned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $580.25.

Several research firms have recently issued reports on IDXX. The Goldman Sachs Group raised shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $530.00 to $435.00 in a research report on Thursday, July 21st. Stifel Nicolaus lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating and set a $415.00 price target on the stock. in a research note on Monday, July 25th. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. Piper Sandler lowered their price target on shares of IDEXX Laboratories from $440.00 to $420.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 26th. Finally, Bank of America downgraded shares of IDEXX Laboratories from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $550.00 to $470.00 in a research note on Thursday, May 5th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter worth $207,000. Commonwealth Equity Services LLC grew its holdings in shares of IDEXX Laboratories by 5.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 24,579 shares of the company’s stock worth $16,184,000 after purchasing an additional 1,218 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its position in IDEXX Laboratories by 4.8% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 2,246 shares of the company’s stock worth $1,479,000 after buying an additional 102 shares in the last quarter. CWM LLC acquired a new position in IDEXX Laboratories during the 4th quarter worth about $1,802,000. Finally, Xponance Inc. lifted its position in IDEXX Laboratories by 7.7% during the 4th quarter. Xponance Inc. now owns 16,478 shares of the company’s stock worth $10,850,000 after buying an additional 1,171 shares in the last quarter. 84.92% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Down 0.3 %

IDXX stock opened at $398.13 on Tuesday. The firm has a market cap of $33.45 billion, a PE ratio of 46.67, a PEG ratio of 2.56 and a beta of 1.14. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.81 and a current ratio of 1.12. The firm’s 50 day moving average price is $366.81 and its 200-day moving average price is $445.79. IDEXX Laboratories has a one year low of $318.50 and a one year high of $706.51.

IDEXX Laboratories (NASDAQ:IDXXGet Rating) last posted its earnings results on Wednesday, May 4th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.02. The firm had revenue of $836.55 million during the quarter, compared to the consensus estimate of $836.47 million. IDEXX Laboratories had a net margin of 22.43% and a return on equity of 103.70%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.35 EPS. On average, equities research analysts anticipate that IDEXX Laboratories will post 8.2 EPS for the current year.

About IDEXX Laboratories

(Get Rating)

IDEXX Laboratories, Inc develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through CAG; Water Quality Products; LPD; and Other segments. It provides point-of-care veterinary diagnostic products, including instruments, consumables, and rapid assay test kits; veterinary reference laboratory diagnostic and consulting services; practice management and diagnostic imaging systems and services for veterinarians; and health monitoring, biological materials testing, and laboratory animal diagnostic instruments and services for biomedical research community.

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