Leerink Partners Forecasts Strong Price Appreciation for IDEXX Laboratories (NASDAQ:IDXX) Stock

IDEXX Laboratories (NASDAQ:IDXX - Free Report) had its target price boosted by Leerink Partners from $515.00 to $580.00 in a report published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued research reports about the stock. Morgan Stanley raised their target price on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Wall Street Zen downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Stifel Nicolaus raised their target price on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the company a "hold" rating in a report on Monday, May 19th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $546.00.

IDEXX Laboratories Trading Down 0.8%

NASDAQ:IDXX traded down $4.22 on Wednesday, hitting $522.70. The stock had a trading volume of 411,464 shares, compared to its average volume of 649,556. The company has a fifty day moving average price of $473.11 and a two-hundred day moving average price of $444.30. The stock has a market cap of $42.04 billion, a price-to-earnings ratio of 48.99, a PEG ratio of 3.41 and a beta of 1.55. IDEXX Laboratories has a 1-year low of $356.14 and a 1-year high of $530.73. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results 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. The company had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The firm's quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.71 EPS. Equities research analysts expect that IDEXX Laboratories will post 11.93 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In related news, Director M Anne Szostak sold 1,260 shares of the business's stock in a transaction that occurred 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 now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fiera Capital Corp lifted its position in IDEXX Laboratories by 12.3% during the fourth quarter. Fiera Capital Corp now owns 141,198 shares of the company's stock valued at $58,377,000 after buying an additional 15,463 shares in the last quarter. Blue Zone Wealth Advisors LLC acquired a new position in IDEXX Laboratories during the fourth quarter valued at approximately $3,958,000. Villere ST Denis J & Co. LLC lifted its position in shares of IDEXX Laboratories by 2.6% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 62,442 shares of the company's stock worth $25,816,000 after purchasing an additional 1,556 shares in the last quarter. Marks Group Wealth Management Inc lifted its position in shares of IDEXX Laboratories by 8.6% during the fourth quarter. Marks Group Wealth Management Inc now owns 11,009 shares of the company's stock worth $4,552,000 after purchasing an additional 869 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its position in shares of IDEXX Laboratories by 25.3% during the fourth quarter. Alberta Investment Management Corp now owns 10,900 shares of the company's stock worth $4,506,000 after purchasing an additional 2,200 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

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.