IDEXX Laboratories (NASDAQ:IDXX) Price Target Raised to $600.00

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) had its price target lifted by investment analysts at Leerink Partners from $580.00 to $600.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Leerink Partners' price objective suggests a potential upside of 15.69% from the stock's current price.

A number of other analysts have also commented on IDXX. Stifel Nicolaus boosted their price objective on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Jefferies Financial Group began coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $560.33.

IDEXX Laboratories Price Performance

NASDAQ:IDXX traded down $1.95 during mid-day trading on Thursday, reaching $518.62. 205,688 shares of the company were exchanged, compared to its average volume of 644,305. The stock has a market cap of $41.71 billion, a PE ratio of 47.98, a PEG ratio of 3.84 and a beta of 1.54. IDEXX Laboratories has a 12 month low of $356.14 and a 12 month high of $549.52. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $522.55 and a 200 day moving average of $461.26.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.96 EPS for the quarter, beating analysts' consensus estimates of $2.93 by $0.03. The business had revenue of $998.43 million during the quarter, compared to the consensus estimate of $998.25 million. IDEXX Laboratories had a return on equity of 57.35% and a net margin of 22.76%. The firm's revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.71 earnings per share. On average, research analysts anticipate that IDEXX Laboratories will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total transaction of $645,548.40. Following the completion of the sale, the director directly owned 1,801 shares of the company's stock, valued at approximately $922,724.34. The trade was a 41.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.98% of the company's stock.

Hedge Funds Weigh In On IDEXX Laboratories

Several institutional investors have recently modified their holdings of IDXX. Vanguard Group Inc. boosted its holdings in shares of IDEXX Laboratories by 1.5% in the first quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company's stock worth $4,139,001,000 after acquiring an additional 146,427 shares during the period. Geode Capital Management LLC boosted its stake in shares of IDEXX Laboratories by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company's stock valued at $948,279,000 after purchasing an additional 37,734 shares in the last quarter. Bamco Inc. NY grew its stake in IDEXX Laboratories by 4.3% in 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 during the period. Price T Rowe Associates Inc. MD increased its stake 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 valued at $835,244,000 after purchasing an additional 825,965 shares in the last quarter. Finally, Invesco Ltd. raised its position in IDEXX Laboratories by 0.5% in the 1st quarter. Invesco Ltd. now owns 1,166,406 shares of the company's stock worth $489,832,000 after buying an additional 5,418 shares during the last quarter. 87.84% of the stock is 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.

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