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

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $536.00.

Several equities research analysts have weighed in on IDXX shares. Bank of America increased their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Barclays increased their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Stifel Nicolaus increased their target price on IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a research report on Monday. Piper Sandler increased their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Finally, Morgan Stanley increased their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC bought a new position in IDEXX Laboratories during the 1st quarter valued at approximately $26,000. Hurley Capital LLC bought a new position in IDEXX Laboratories during the 4th quarter valued at approximately $29,000. Rialto Wealth Management LLC bought a new position in IDEXX Laboratories during the 4th quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. increased its position in IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after buying an additional 30 shares in the last quarter. Finally, Colonial Trust Co SC increased its position in IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after buying an additional 39 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Trading Up 0.8%

NASDAQ IDXX opened at $504.83 on Friday. IDEXX Laboratories has a fifty-two week low of $356.14 and a fifty-two week high of $530.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The stock has a 50 day simple moving average of $439.05 and a two-hundred day simple moving average of $433.87. The stock has a market cap of $40.60 billion, a P/E ratio of 47.31, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The business had revenue of $998.43 million during the quarter, compared to analysts' expectations of $998.25 million. During the same quarter last year, the business posted $2.71 EPS. The business's revenue was up 3.6% on a year-over-year basis. On average, analysts forecast that IDEXX Laboratories will post 11.93 earnings per share for the current year.

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.

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