IDEXX Laboratories (NASDAQ:IDXX) Upgraded at StockNews.com

IDEXX Laboratories (NASDAQ:IDXX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other equities analysts have also issued reports on the company. Morgan Stanley decreased their price objective on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a report on Tuesday, May 14th. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Barclays decreased their price target on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Piper Sandler lowered IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a research note on Tuesday, January 30th. Finally, JPMorgan Chase & Co. increased their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research note 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $580.38.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock traded down $0.50 on Wednesday, reaching $517.94. 494,511 shares of the company were exchanged, compared to its average volume of 453,342. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57. The company’s 50-day moving average is $510.61 and its two-hundred day moving average is $522.08. The firm has a market cap of $42.78 billion, a price-to-earnings ratio of 50.14, a P/E/G ratio of 4.17 and a beta of 1.27. IDEXX Laboratories has a 1-year low of $372.50 and a 1-year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The business had revenue of $964.10 million for the quarter, compared to analysts’ expectations of $965.43 million. As a group, research analysts expect that IDEXX Laboratories will post 11.03 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other news, Director Bruce L. Claflin sold 200 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $540.80, for a total transaction of $108,160.00. Following the completion of the sale, the director now directly owns 161 shares of the company’s stock, valued at approximately $87,068.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.18% of the company’s stock.

Institutional Trading of IDEXX Laboratories

A number of hedge funds have recently modified their holdings of IDXX. Valley National Advisers Inc. lifted its holdings in shares of IDEXX Laboratories by 84.6% in the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after purchasing an additional 22 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of IDEXX Laboratories during the first quarter worth $26,000. Crewe Advisors LLC purchased a new stake in shares of IDEXX Laboratories during the first quarter worth $26,000. Geo Capital Gestora de Recursos Ltd purchased a new stake in shares of IDEXX Laboratories during the third quarter worth $28,000. Finally, Covestor Ltd raised its holdings in shares of IDEXX Laboratories by 71.8% during the third quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other 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.