Leerink Partners Increases IDEXX Laboratories (NASDAQ:IDXX) Price Target to $580.00

IDEXX Laboratories (NASDAQ:IDXX) had its price objective upped by Leerink Partners from $515.00 to $580.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ target price points to a potential upside of 10.07% from the company’s previous close.

A number of other equities analysts have also weighed in on IDXX. Morgan Stanley boosted their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Stifel Nicolaus boosted their price objective on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the stock a “hold” rating in a report on Monday, May 19th. Finally, Wall Street Zen lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $546.00.

IDEXX Laboratories Stock Up 0.5%

NASDAQ IDXX opened at $526.92 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The stock has a market capitalization of $42.38 billion, a PE ratio of 49.38, a PEG ratio of 3.41 and a beta of 1.55. IDEXX Laboratories has a 1 year low of $356.14 and a 1 year high of $530.73. The business’s 50-day moving average is $469.88 and its 200 day moving average is $443.57.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The company had revenue of $998.43 million for the quarter, compared to analysts’ expectations of $998.25 million. During the same period last year, the firm earned $2.71 earnings per share. IDEXX Laboratories’s quarterly revenue was up 3.6% on a year-over-year basis. Sell-side analysts forecast that IDEXX Laboratories will post 11.93 earnings per share for the current year.

Insider Buying and Selling

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total transaction of $645,548.40. Following the completion of the transaction, the director now owns 1,801 shares of the company’s stock, valued at $922,724.34. This represents a 41.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. MorganRosel Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $26,000. Hurley Capital LLC purchased a new stake in IDEXX Laboratories in the 4th quarter worth about $29,000. Rialto Wealth Management LLC purchased a new stake in IDEXX Laboratories in the 4th quarter worth about $30,000. Migdal Insurance & Financial Holdings Ltd. raised its position in IDEXX Laboratories by 55.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock worth $35,000 after purchasing an additional 30 shares during the period. Finally, Colonial Trust Co SC raised its position in IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock worth $35,000 after purchasing an additional 39 shares during the period. Institutional investors 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.