Analysts Set IDEXX Laboratories, Inc. (NASDAQ:IDXX) Price Target at $536.00

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) has been given a consensus rating of "Moderate Buy" by the nine analysts that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $536.00.

IDXX has been the topic of several recent research reports. Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Morgan Stanley increased their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Barclays lifted their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Piper Sandler upped their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Finally, Bank of America increased their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total value of $645,548.40. Following the transaction, the director now owns 1,801 shares in the company, valued at approximately $922,724.34. The trade was a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.98% of the stock is currently owned by company insiders.

Institutional Trading of IDEXX Laboratories

Several large investors have recently modified their holdings of the business. Anderson Financial Strategies LLC purchased a new stake in IDEXX Laboratories in the 1st quarter worth approximately $197,000. Strs Ohio bought a new position in shares of IDEXX Laboratories during the first quarter valued at approximately $5,879,000. Carderock Capital Management Inc. lifted its stake in IDEXX Laboratories by 4.8% in the first quarter. Carderock Capital Management Inc. now owns 14,429 shares of the company's stock worth $6,059,000 after acquiring an additional 660 shares during the period. Geneos Wealth Management Inc. boosted its holdings in IDEXX Laboratories by 34.3% in the first quarter. Geneos Wealth Management Inc. now owns 325 shares of the company's stock valued at $136,000 after acquiring an additional 83 shares in the last quarter. Finally, Focus Partners Wealth raised its holdings in IDEXX Laboratories by 15.4% in the 1st quarter. Focus Partners Wealth now owns 46,831 shares of the company's stock worth $19,667,000 after purchasing an additional 6,255 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Price Performance

IDXX stock traded down $2.17 during midday trading on Friday, reaching $514.33. The company had a trading volume of 478,633 shares, compared to its average volume of 651,314. The firm has a 50-day moving average price of $446.06 and a 200-day moving average price of $436.13. The company has a market capitalization of $41.36 billion, a P/E ratio of 48.20, a P/E/G ratio of 3.41 and a beta of 1.52. IDEXX Laboratories has a 1 year low of $356.14 and a 1 year high of $530.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95.

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