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

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has earned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $591.50.

Several analysts have issued reports on IDXX shares. The Goldman Sachs Group boosted their price target on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Barclays increased their price target on IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. upped their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a report on Tuesday, January 30th. Finally, William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th.

IDEXX Laboratories Stock Up 0.7 %

NASDAQ:IDXX opened at $479.57 on Thursday. The company has a market capitalization of $39.83 billion, a PE ratio of 47.62, a P/E/G ratio of 3.67 and a beta of 1.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17. IDEXX Laboratories has a 1-year low of $372.50 and a 1-year high of $583.39. The firm’s 50-day moving average price is $536.30 and its 200-day moving average price is $510.27.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The business had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $891.88 million. During the same period in the prior year, the firm posted $2.05 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities analysts predict that IDEXX Laboratories will post 11.15 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the completion of the transaction, the chief executive officer now owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the transaction, the chief financial officer now owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the completion of the sale, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. Insiders sold 43,524 shares of company stock valued at $24,871,960 over the last 90 days. Corporate insiders own 2.18% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Several institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its holdings in IDEXX Laboratories by 2.1% in the fourth quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock valued at $780,303,000 after purchasing an additional 28,475 shares during the period. Blair William & Co. IL boosted its stake in shares of IDEXX Laboratories by 0.7% in the 3rd quarter. Blair William & Co. IL now owns 1,199,945 shares of the company’s stock valued at $524,700,000 after buying an additional 7,812 shares during the period. Brown Advisory Inc. grew its position in shares of IDEXX Laboratories by 2.2% during the third quarter. Brown Advisory Inc. now owns 1,161,124 shares of the company’s stock worth $507,725,000 after buying an additional 24,741 shares in the last quarter. Morgan Stanley increased its stake in shares of IDEXX Laboratories by 4.7% during the third quarter. Morgan Stanley now owns 1,064,514 shares of the company’s stock worth $465,482,000 after buying an additional 48,095 shares during the period. Finally, Capital World Investors increased its stake in shares of IDEXX Laboratories by 1.1% during the fourth quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock worth $567,648,000 after buying an additional 11,351 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

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.