Stifel Nicolaus Boosts IDEXX Laboratories (NASDAQ:IDXX) Price Target to $375.00

IDEXX Laboratories (NASDAQ:IDXX) had its price objective lifted by Stifel Nicolaus from $280.00 to $375.00 in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on IDXX. TheStreet raised shares of IDEXX Laboratories from a c+ rating to a b- rating in a research note on Thursday, April 30th. Bank of America lifted their price target on shares of IDEXX Laboratories from $300.00 to $390.00 and gave the company a buy rating in a research note on Monday, July 20th. Finally, BidaskClub downgraded shares of IDEXX Laboratories from a strong-buy rating to a buy rating in a research note on Saturday, June 6th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. IDEXX Laboratories has a consensus rating of Buy and a consensus price target of $317.14.

Shares of NASDAQ:IDXX traded up $23.65 during trading hours on Thursday, hitting $397.75. 783,280 shares of the company’s stock traded hands, compared to its average volume of 327,199. IDEXX Laboratories has a 1 year low of $168.65 and a 1 year high of $407.86. The business has a fifty day moving average price of $335.38 and a 200-day moving average price of $286.60. The firm has a market capitalization of $33.78 billion, a P/E ratio of 79.55, a price-to-earnings-growth ratio of 6.12 and a beta of 0.81. The company has a debt-to-equity ratio of 7.06, a current ratio of 0.85 and a quick ratio of 0.60.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Friday, July 31st. The company reported $1.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.55. IDEXX Laboratories had a return on equity of 264.71% and a net margin of 17.78%. The business had revenue of $637.20 million during the quarter, compared to analyst estimates of $589.98 million. During the same quarter in the previous year, the business earned $1.43 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, equities analysts predict that IDEXX Laboratories will post 5.09 earnings per share for the current year.

In other news, VP Giovani Twigge sold 14,070 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $307.73, for a total transaction of $4,329,761.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jonathan W. Ayers sold 13,600 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $286.07, for a total value of $3,890,552.00. Following the transaction, the director now directly owns 810,467 shares in the company, valued at $231,850,294.69. The disclosure for this sale can be found here. Insiders sold 106,182 shares of company stock valued at $31,409,008 in the last three months. 2.53% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. National Asset Management Inc. purchased a new stake in shares of IDEXX Laboratories during the second quarter valued at $232,000. Comerica Bank boosted its holdings in IDEXX Laboratories by 31.4% in the second quarter. Comerica Bank now owns 27,220 shares of the company’s stock valued at $9,941,000 after purchasing an additional 6,509 shares during the last quarter. Ingalls & Snyder LLC purchased a new stake in IDEXX Laboratories in the second quarter valued at $266,000. Sigma Planning Corp purchased a new stake in IDEXX Laboratories in the second quarter valued at $580,000. Finally, UBS Group AG boosted its holdings in IDEXX Laboratories by 4.4% in the second quarter. UBS Group AG now owns 127,621 shares of the company’s stock valued at $42,136,000 after purchasing an additional 5,410 shares during the last quarter. 88.58% of the stock is currently 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.

See Also: Return on Equity (ROE)

Analyst Recommendations for IDEXX Laboratories (NASDAQ:IDXX)

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