IDEXX Laboratories (NASDAQ:IDXX) Stock Price Expected to Rise, Morgan Stanley Analyst Says

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) had its price objective upped by research analysts at Morgan Stanley from $548.00 to $558.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's target price points to a potential upside of 18.64% from the stock's current price.

Several other analysts also recently weighed in on IDXX. Barclays boosted their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Piper Sandler lifted their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. StockNews.com cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Bank of America raised their price target 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. Finally, Stifel Nicolaus dropped their target price on IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating for the company in a report on Monday, April 14th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $524.75.

IDEXX Laboratories Stock Down 0.3 %

Shares of NASDAQ IDXX traded down $1.58 during midday trading on Monday, reaching $470.32. 86,383 shares of the company's stock traded hands, compared to its average volume of 639,766. The company has a market cap of $38.11 billion, a price-to-earnings ratio of 44.07, a P/E/G ratio of 3.41 and a beta of 1.50. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. IDEXX Laboratories has a one year low of $356.14 and a one year high of $548.88. The stock's 50 day simple moving average is $419.26 and its 200-day simple moving average is $428.06.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The business had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. During the same period in the previous year, the company earned $2.71 earnings per share. The business's revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts predict that IDEXX Laboratories will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $462.53, for a total value of $4,618,824.58. Following the completion of the transaction, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $465.94, for a total value of $1,397,820.00. Following the completion of the sale, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position 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 buying an additional 37,734 shares in the last quarter. Bamco Inc. NY grew its holdings in IDEXX Laboratories by 4.3% during the 4th quarter. Bamco Inc. NY now owns 2,005,522 shares of the company's stock worth $829,163,000 after acquiring an additional 82,264 shares in the last quarter. Invesco Ltd. grew its holdings in IDEXX Laboratories by 6.8% during the 4th quarter. Invesco Ltd. now owns 1,160,988 shares of the company's stock worth $479,999,000 after acquiring an additional 74,324 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of IDEXX Laboratories by 58.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after purchasing an additional 414,802 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of IDEXX Laboratories in the 4th quarter valued at $412,258,000. 87.84% of the stock is owned by institutional investors and hedge funds.

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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