JPMorgan Chase & Co. Trims IDEXX Laboratories (NASDAQ:IDXX) Target Price to $575.00

IDEXX Laboratories (NASDAQ:IDXX) had its price objective lowered by JPMorgan Chase & Co. from $630.00 to $575.00 in a report released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. StockNews.com lowered IDEXX Laboratories from a buy rating to a hold rating in a research note on Wednesday, July 10th. Stifel Nicolaus cut their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a hold rating on the stock in a report on Thursday. BTIG Research started coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a buy rating and a $580.00 price objective for the company. Finally, Piper Sandler cut their target price on shares of IDEXX Laboratories from $600.00 to $520.00 and set a neutral rating on the stock in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $574.13.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $476.27 on Friday. The firm has a market cap of $39.33 billion, a price-to-earnings ratio of 46.11, a price-to-earnings-growth ratio of 4.14 and a beta of 1.33. 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’s 50-day moving average is $488.00 and its two-hundred day moving average is $493.61.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the company posted $2.67 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Research analysts expect that IDEXX Laboratories will post 10.44 EPS for the current year.

Hedge Funds Weigh In On IDEXX Laboratories

A number of institutional investors have recently made changes to their positions in IDXX. Riverview Trust Co bought a new stake in shares of IDEXX Laboratories in the first quarter worth $26,000. Crewe Advisors LLC bought a new stake in shares of IDEXX Laboratories in the 1st quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at about $27,000. Institutional & Family Asset Management LLC bought a new position in shares of IDEXX Laboratories during the second quarter worth about $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in IDEXX Laboratories in the second quarter worth about $36,000. 87.84% of the stock is owned by institutional investors and hedge funds.

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.