IDEXX Laboratories (NASDAQ:IDXX) PT Lowered to $570.00 at Barclays

IDEXX Laboratories (NASDAQ:IDXX) had its target price cut by research analysts at Barclays from $655.00 to $570.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 20.10% from the stock’s previous close.

A number of other research firms have also recently commented on IDXX. The Goldman Sachs Group increased their price target on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Piper Sandler cut IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price on the stock. in a research report on Tuesday, January 30th. Finally, JPMorgan Chase & Co. boosted their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $580.88.

IDEXX Laboratories Trading Up 1.4 %

NASDAQ:IDXX traded up $6.56 during midday trading on Thursday, hitting $474.60. 269,354 shares of the company traded hands, compared to its average volume of 440,308. The firm’s fifty day moving average is $527.12 and its 200-day moving average is $512.32. IDEXX Laboratories has a 12-month low of $372.50 and a 12-month high of $583.39. The firm has a market capitalization of $39.42 billion, a P/E ratio of 47.06, a P/E/G ratio of 3.85 and a beta of 1.27. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $891.88 million. During the same quarter last year, the firm posted $2.05 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts predict that IDEXX Laboratories will post 11.13 EPS for the current year.

Insider Activity

In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories 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 sale, the chief executive officer now owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s 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 transaction, the chief executive officer now owns 79,247 shares in the company, valued at $45,377,624.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,524 shares of company stock valued at $24,871,960. Insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IDXX. OFI Invest Asset Management acquired a new position in shares of IDEXX Laboratories during the third quarter valued at approximately $25,000. Valley National Advisers Inc. grew its position in IDEXX Laboratories by 84.6% in the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after buying an additional 22 shares during the last quarter. Riverview Trust Co acquired a new position in IDEXX Laboratories in the first quarter worth approximately $26,000. Geo Capital Gestora de Recursos Ltd acquired a new position in IDEXX Laboratories in the third quarter worth approximately $28,000. Finally, Covestor Ltd grew its position in IDEXX Laboratories by 71.8% in the third quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after buying an additional 28 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

About IDEXX Laboratories

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.