Stifel Nicolaus Lowers IDEXX Laboratories (NASDAQ:IDXX) Price Target to $500.00

IDEXX Laboratories (NASDAQ:IDXX) had its price objective lowered by equities research analysts at Stifel Nicolaus from $510.00 to $500.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 4.98% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. BTIG Research assumed coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Finally, Piper Sandler lowered their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $574.13.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $476.27 on Thursday. The company has a market capitalization of $39.33 billion, a price-to-earnings ratio of 46.11, a PEG ratio of 4.14 and a beta of 1.33. The business has a 50 day moving average of $487.85 and a 200 day moving average of $494.56. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. 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 data on Tuesday, August 6th. The company reported $2.44 earnings per share 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 during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm posted $2.67 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts predict that IDEXX Laboratories will post 10.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEXX Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Riverview Trust Co bought a new position in IDEXX Laboratories in the 1st quarter worth $26,000. Crewe Advisors LLC purchased a new position in shares of IDEXX Laboratories during the first quarter valued at about $26,000. Ridgewood Investments LLC bought a new position in IDEXX Laboratories in the second quarter worth about $27,000. Institutional & Family Asset Management LLC purchased a new stake in IDEXX Laboratories in the second quarter worth about $28,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in IDEXX Laboratories during the 2nd quarter valued at approximately $36,000. Institutional investors 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.