IDEXX Laboratories, Inc. (NASDAQ:IDXX) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the ten research firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $558.11.

Several equities analysts have weighed in on IDXX shares. Morgan Stanley lifted their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective on the stock. Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday. Stifel Nicolaus lifted their price objective on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. Finally, Leerink Partners lifted their price objective on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 11th.

Insider Activity

In related news, Director M Anne Szostak sold 1,260 shares of IDEXX Laboratories stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total value of $645,548.40. Following the completion of the sale, the director owned 1,801 shares of the company's stock, valued at approximately $922,724.34. The trade was a 41.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.98% of the company's stock.

Institutional Investors Weigh In On IDEXX Laboratories

Several institutional investors and hedge funds have recently modified their holdings of IDXX. MorganRosel Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories in the 1st quarter valued at $26,000. Hurley Capital LLC bought a new position in IDEXX Laboratories in the 4th quarter worth $29,000. Colonial Trust Co SC raised its holdings in IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after acquiring an additional 39 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings in IDEXX Laboratories by 55.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after acquiring an additional 30 shares during the period. Finally, WPG Advisers LLC bought a new position in shares of IDEXX Laboratories during the 1st quarter worth about $37,000. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Trading Down 1.4%

IDEXX Laboratories stock opened at $533.37 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.81 and a current ratio of 1.16. The firm has a market cap of $42.89 billion, a price-to-earnings ratio of 49.29, a price-to-earnings-growth ratio of 3.95 and a beta of 1.54. IDEXX Laboratories has a 1 year low of $356.14 and a 1 year high of $549.52. The firm's 50 day moving average price is $519.68 and its two-hundred day moving average price is $458.97.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.03. The firm had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.71 earnings per share. On average, research analysts predict that IDEXX Laboratories will post 11.93 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.