IDEXX Laboratories (NASDAQ:IDXX) Hits New 1-Year High - Time to Buy?

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $530.73 and last traded at $528.56, with a volume of 167100 shares changing hands. The stock had previously closed at $525.83.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IDXX. Stifel Nicolaus raised their price objective on IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a research note on Monday, May 19th. Wall Street Zen cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Morgan Stanley lifted their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Piper Sandler lifted their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, IDEXX Laboratories presently has an average rating of "Moderate Buy" and a consensus price target of $536.00.

IDEXX Laboratories Trading Down 0.5%

The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The stock has a 50-day simple moving average of $455.99 and a two-hundred day simple moving average of $439.27. The firm has a market capitalization of $42.00 billion, a P/E ratio of 48.94, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.93 by $0.03. The firm had revenue of $998.43 million during the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.71 EPS. On average, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current 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 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 transaction, the director now directly owns 1,801 shares in the company, valued at $922,724.34. The trade was a 41.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake 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 purchasing an additional 146,427 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of IDEXX Laboratories by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company's stock valued at $948,279,000 after buying an additional 37,734 shares during the period. Bamco Inc. NY raised its holdings in IDEXX Laboratories by 4.3% in the 4th 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 raised its holdings in IDEXX Laboratories by 71.0% in the 1st 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 during the period. Finally, Invesco Ltd. raised its holdings 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 purchasing an additional 5,418 shares during the period. 87.84% of the stock is currently owned by hedge funds and other 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.