IDEXX Laboratories (NASDAQ:IDXX) Upgraded at Leerink Partnrs

IDEXX Laboratories (NASDAQ:IDXX) was upgraded by Leerink Partnrs to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on IDXX. Leerink Partners started coverage on shares of IDEXX Laboratories in a report on Monday. They set an “outperform” rating and a $500.00 price objective for the company. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Barclays reduced their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Finally, Stifel Nicolaus reduced their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $546.56.

IDEXX Laboratories Trading Up 2.1 %

Shares of IDEXX Laboratories stock opened at $430.77 on Monday. The company’s 50-day moving average price is $451.91 and its 200-day moving average price is $477.31. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. IDEXX Laboratories has a 12-month low of $398.50 and a 12-month high of $583.39. The company has a market cap of $35.27 billion, a price-to-earnings ratio of 41.54, a PEG ratio of 3.68 and a beta of 1.37.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business had revenue of $975.50 million for the quarter, compared to analysts’ expectations of $980.32 million. During the same period in the prior year, the company posted $2.53 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts expect that IDEXX Laboratories will post 10.43 earnings per share for the current fiscal year.

Insider Activity

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the transaction, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.11% of the company’s stock.

Institutional Trading of IDEXX Laboratories

A number of hedge funds have recently modified their holdings of the business. Eads & Heald Wealth Management boosted its holdings in shares of IDEXX Laboratories by 0.8% during the 2nd quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock valued at $1,309,000 after buying an additional 22 shares in the last quarter. LRI Investments LLC boosted its stake in IDEXX Laboratories by 21.7% in the 2nd quarter. LRI Investments LLC now owns 129 shares of the company’s stock worth $63,000 after purchasing an additional 23 shares in the last quarter. Sovereign Financial Group Inc. boosted its stake in IDEXX Laboratories by 5.1% in the 3rd quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock worth $237,000 after purchasing an additional 23 shares in the last quarter. Mather Group LLC. boosted its stake in IDEXX Laboratories by 3.9% in the 3rd quarter. Mather Group LLC. now owns 617 shares of the company’s stock worth $312,000 after purchasing an additional 23 shares in the last quarter. Finally, Angeles Wealth Management LLC boosted its stake in IDEXX Laboratories by 2.4% in the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock worth $545,000 after purchasing an additional 25 shares in the last quarter. 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.