IDEXX Laboratories, Inc. (NASDAQ:IDXX) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• IDEXX Laboratories, Inc. has received a consensus rating of “Moderate Buy” from analysts, with a target price averaging $594.22.
• The company reported $3.63 earnings per share for the most recent quarter, exceeding estimates and showing a 10.6% year-over-year revenue increase.
• Institutional investors hold 87.84% of IDEXX Laboratories' stock, indicating strong confidence in the company's prospects.

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the ten analysts that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $594.2222.

A number of research analysts have recently commented on the company. BTIG Research increased their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research report on Tuesday. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price on the stock. JPMorgan Chase & Co. increased their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research note on Monday. Stifel Nicolaus increased their target price on IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a research note on Wednesday, July 2nd. Finally, Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th.

IDEXX Laboratories Trading Down 6.0%

IDXX stock opened at $641.94 on Wednesday. IDEXX Laboratories has a 1-year low of $356.14 and a 1-year high of $688.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.81. The company has a market capitalization of $51.62 billion, a price-to-earnings ratio of 53.45, a PEG ratio of 4.71 and a beta of 1.49. The business has a 50 day simple moving average of $537.43 and a two-hundred day simple moving average of $475.11.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company posted $2.44 EPS. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. Research analysts anticipate that IDEXX Laboratories will post 11.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was 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. This trade represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.98% of the company's stock.

Institutional Investors Weigh In On IDEXX Laboratories

Institutional investors have recently added to or reduced their stakes in the business. MorganRosel Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories during the first quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new position in IDEXX Laboratories during the second quarter valued at approximately $29,000. Colonial Trust Co SC raised its position in IDEXX Laboratories by 84.8% during the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after acquiring an additional 39 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after acquiring an additional 30 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in IDEXX Laboratories during the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 87.84% of the company's stock.

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.

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