IDEXX Laboratories (NASDAQ:IDXX) Sets New 52-Week High - Still a Buy?

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $530.74 and last traded at $530.50, with a volume of 386993 shares changing hands. The stock had previously closed at $524.65.

Analysts Set New Price Targets

Several equities analysts have recently commented on IDXX shares. Wall Street Zen cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Stifel Nicolaus increased their target price on IDEXX Laboratories from $460.00 to $510.00 and gave the company a "hold" rating in a research note on Monday, May 19th. Leerink Partners upped their price target on IDEXX Laboratories from $515.00 to $580.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. Finally, Morgan Stanley raised their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, IDEXX Laboratories has a consensus rating of "Moderate Buy" and an average price target of $546.00.

IDEXX Laboratories Price Performance

The company has a 50 day moving average of $499.01 and a 200-day moving average of $450.85. The stock has a market capitalization of $42.73 billion, a P/E ratio of 49.11, a PEG ratio of 3.88 and a beta of 1.55. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.31.

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

Insider Buying and Selling at IDEXX Laboratories

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

Institutional Investors Weigh In On IDEXX Laboratories

A number of hedge funds have recently added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC bought a new stake in shares of IDEXX Laboratories during the first quarter valued at about $26,000. Hurley Capital LLC bought a new stake in shares of IDEXX Laboratories during the fourth quarter valued at about $29,000. Rialto Wealth Management LLC bought a new stake in shares of IDEXX Laboratories during the fourth quarter valued at about $30,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of 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 purchasing an additional 30 shares in the last quarter. Finally, Colonial Trust Co SC raised its stake in shares of 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 purchasing an additional 39 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

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.