IDEXX Laboratories (NASDAQ:IDXX) Sets New 1-Year High - Should You Buy?

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $549.52 and last traded at $546.48, with a volume of 123602 shares trading hands. The stock had previously closed at $547.01.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IDXX shares. Stifel Nicolaus lifted their price target on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the company a "hold" rating in a research report on Wednesday, July 2nd. Wall Street Zen downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Jefferies Financial Group started coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective on the stock. Morgan Stanley raised their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Leerink Partners raised their price objective on IDEXX Laboratories from $515.00 to $580.00 and gave the company an "outperform" rating in a research note on Wednesday, June 11th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $558.11.

IDEXX Laboratories Stock Down 0.3%

The company has a market capitalization of $43.87 billion, a P/E ratio of 50.42, a PEG ratio of 3.99 and a beta of 1.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.81 and a current ratio of 1.16. The stock has a 50 day moving average price of $510.63 and a 200 day moving average price of $455.17.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data 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. IDEXX Laboratories had a return on equity of 57.35% and a net margin of 22.76%. The business had revenue of $998.43 million for the quarter, compared to analysts' expectations of $998.25 million. During the same period in the previous year, the business posted $2.71 EPS. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. Equities research analysts forecast that IDEXX Laboratories, Inc. 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 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 sale, the director directly owned 1,801 shares in the company, valued at approximately $922,724.34. The trade was a 41.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in IDEXX Laboratories by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company's stock valued at $4,139,001,000 after buying an additional 146,427 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of IDEXX Laboratories by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company's stock worth $948,279,000 after purchasing an additional 37,734 shares in the last quarter. Bamco Inc. NY grew its holdings in shares of IDEXX Laboratories by 4.3% during the fourth quarter. Bamco Inc. NY now owns 2,005,522 shares of the company's stock worth $829,163,000 after purchasing an additional 82,264 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of IDEXX Laboratories by 71.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,988,912 shares of the company's stock worth $835,244,000 after purchasing an additional 825,965 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of IDEXX Laboratories by 0.5% during the first quarter. Invesco Ltd. now owns 1,166,406 shares of the company's stock worth $489,832,000 after purchasing an additional 5,418 shares in the last quarter. Hedge funds and other institutional investors 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.