IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives $582.25 Consensus PT from Analysts

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been given an average recommendation of “Moderate Buy” by the nine analysts that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $582.25.

IDXX has been the subject of several recent research reports. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Stifel Nicolaus decreased their target price on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. Piper Sandler cut their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Finally, BTIG Research began coverage on IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company.

IDEXX Laboratories Price Performance

IDXX stock opened at $506.74 on Friday. The business’s fifty day moving average price is $483.85 and its 200 day moving average price is $499.16. IDEXX Laboratories has a 12-month low of $372.50 and a 12-month high of $583.39. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $41.85 billion, a PE ratio of 49.06, a P/E/G ratio of 4.17 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company earned $2.67 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, sell-side analysts anticipate that IDEXX Laboratories will post 10.45 EPS for the current year.

Institutional Trading of IDEXX Laboratories

Several institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC raised its stake in IDEXX Laboratories by 11.9% during the 4th quarter. Manchester Capital Management LLC now owns 188 shares of the company’s stock worth $104,000 after acquiring an additional 20 shares in the last quarter. Atomi Financial Group Inc. grew its holdings in shares of IDEXX Laboratories by 3.4% during the first quarter. Atomi Financial Group Inc. now owns 637 shares of the company’s stock worth $344,000 after purchasing an additional 21 shares during the last quarter. Ballentine Partners LLC increased its position in shares of IDEXX Laboratories by 1.9% during the first quarter. Ballentine Partners LLC now owns 1,188 shares of the company’s stock worth $641,000 after purchasing an additional 22 shares in the last quarter. Eads & Heald Wealth Management lifted its holdings in shares of IDEXX Laboratories by 0.8% in the 2nd quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock valued at $1,309,000 after purchasing an additional 22 shares during the last quarter. Finally, LRI Investments LLC boosted its position in shares of IDEXX Laboratories by 21.7% in the 2nd quarter. LRI Investments LLC now owns 129 shares of the company’s stock valued at $63,000 after purchasing an additional 23 shares during the period. 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.