IDEXX Laboratories (NASDAQ:IDXX) Raised to Buy at Wall Street Zen

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Thursday.

A number of other equities analysts also recently issued reports on the company. Piper Sandler raised their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Morgan Stanley increased their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Stifel Nicolaus boosted their price target on IDEXX Laboratories from $460.00 to $510.00 and gave the company a "hold" rating in a research note on Monday. Barclays upped their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Finally, Bank of America increased their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $536.00.

IDEXX Laboratories Stock Up 0.3%

NASDAQ:IDXX traded up $1.57 on Thursday, reaching $502.44. 137,896 shares of the stock traded hands, compared to its average volume of 647,965. The company's fifty day simple moving average is $437.40 and its 200 day simple moving average is $433.24. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. IDEXX Laboratories has a 12 month low of $356.14 and a 12 month high of $530.60. The company has a market capitalization of $40.41 billion, a price-to-earnings ratio of 47.24, a PEG ratio of 3.41 and a beta of 1.52.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $998.25 million. During the same quarter in the prior year, the firm earned $2.71 earnings per share. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts predict that IDEXX Laboratories will post 11.93 EPS for the current fiscal year.

Institutional Trading of IDEXX Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of IDXX. Hantz Financial Services Inc. grew its stake in shares of IDEXX Laboratories by 11.5% during the 4th quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company's stock valued at $3,199,000 after acquiring an additional 800 shares during the period. Paragon Capital Management Inc. raised its stake in IDEXX Laboratories by 25.7% during the 4th quarter. Paragon Capital Management Inc. now owns 3,820 shares of the company's stock worth $1,579,000 after acquiring an additional 782 shares during the period. Manitou Investment Management Ltd. lifted its holdings in IDEXX Laboratories by 491.0% during the fourth quarter. Manitou Investment Management Ltd. now owns 52,202 shares of the company's stock valued at $21,582,000 after purchasing an additional 43,369 shares in the last quarter. Fiera Capital Corp boosted its position in shares of IDEXX Laboratories by 12.3% in the fourth quarter. Fiera Capital Corp now owns 141,198 shares of the company's stock worth $58,377,000 after purchasing an additional 15,463 shares during the period. Finally, Lecap Asset Management Ltd. boosted its position in shares of IDEXX Laboratories by 587.7% in the fourth quarter. Lecap Asset Management Ltd. now owns 5,701 shares of the company's stock worth $2,357,000 after purchasing an additional 4,872 shares during the period. Hedge funds and other institutional investors own 87.84% of the company's stock.

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.

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