IDEXX Laboratories (NASDAQ:IDXX) PT Raised to $293.00

IDEXX Laboratories (NASDAQ:IDXX) had its target price raised by Credit Suisse Group from $282.00 to $293.00 in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity restated a buy rating and set a $285.00 price objective on shares of IDEXX Laboratories in a report on Friday, August 2nd. BidaskClub cut IDEXX Laboratories from a strong-buy rating to a buy rating in a report on Friday, July 26th. Zacks Investment Research upgraded IDEXX Laboratories from a hold rating to a buy rating and set a $271.00 price objective for the company in a report on Friday, May 3rd. Guggenheim assumed coverage on IDEXX Laboratories in a report on Thursday, May 23rd. They set a buy rating and a $276.00 price objective for the company. Finally, Stifel Nicolaus boosted their price objective on IDEXX Laboratories from $255.00 to $295.00 and gave the company a buy rating in a report on Monday, July 22nd. Seven research analysts have rated the stock with a buy rating, IDEXX Laboratories has a consensus rating of Buy and an average price target of $286.67.

Shares of IDEXX Laboratories stock opened at $279.53 on Friday. The stock has a market cap of $24.06 billion, a price-to-earnings ratio of 65.62 and a beta of 0.84. The company has a debt-to-equity ratio of 4.49, a quick ratio of 0.83 and a current ratio of 1.15. The stock has a 50 day moving average price of $279.38 and a 200-day moving average price of $244.51. IDEXX Laboratories has a one year low of $176.11 and a one year high of $292.17.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, August 1st. The company reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.06. IDEXX Laboratories had a return on equity of 765.45% and a net margin of 17.78%. The firm had revenue of $620.10 million during the quarter, compared to analysts’ expectations of $627.10 million. During the same quarter in the previous year, the business earned $1.23 EPS. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Sell-side analysts predict that IDEXX Laboratories will post 4.86 earnings per share for the current fiscal year.

In related news, insider Giovani Twigge sold 2,300 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $274.44, for a total transaction of $631,212.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael Lane sold 17,961 shares of IDEXX Laboratories stock in a transaction on Monday, August 5th. The shares were sold at an average price of $264.10, for a total value of $4,743,500.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,905 shares of company stock valued at $18,968,126. 2.70% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in IDEXX Laboratories by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 9,247,387 shares of the company’s stock valued at $2,546,084,000 after purchasing an additional 112,147 shares in the last quarter. Fundsmith LLP raised its position in IDEXX Laboratories by 0.8% during the 1st quarter. Fundsmith LLP now owns 4,467,341 shares of the company’s stock valued at $998,897,000 after purchasing an additional 35,049 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in IDEXX Laboratories by 32.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,180,724 shares of the company’s stock valued at $875,749,000 after purchasing an additional 787,736 shares in the last quarter. Blair William & Co. IL raised its position in IDEXX Laboratories by 0.7% during the 1st quarter. Blair William & Co. IL now owns 1,582,222 shares of the company’s stock valued at $353,785,000 after purchasing an additional 10,586 shares in the last quarter. Finally, American Century Companies Inc. raised its position in IDEXX Laboratories by 111.2% during the 1st quarter. American Century Companies Inc. now owns 1,483,074 shares of the company’s stock valued at $331,615,000 after purchasing an additional 780,846 shares in the last quarter. 87.10% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

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Analyst Recommendations for IDEXX Laboratories (NASDAQ:IDXX)

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