Morgan Stanley Increases IDEXX Laboratories (NASDAQ:IDXX) Price Target to $558.00

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) had its target price boosted by stock analysts at Morgan Stanley from $548.00 to $558.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's target price suggests a potential upside of 13.48% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. 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 note on Tuesday, February 4th. StockNews.com lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Stifel Nicolaus dropped their price target on shares of IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Bank of America increased their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Finally, Piper Sandler upped their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $524.75.

IDEXX Laboratories Stock Performance

IDXX traded up $1.72 on Monday, reaching $491.70. The company had a trading volume of 668,502 shares, compared to its average volume of 649,272. The company's fifty day moving average is $423.31 and its 200 day moving average is $429.36. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The stock has a market cap of $39.85 billion, a P/E ratio of 46.08, a P/E/G ratio of 3.41 and a beta of 1.52. IDEXX Laboratories has a fifty-two week low of $356.14 and a fifty-two week high of $548.88.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, topping analysts' consensus estimates of $2.93 by $0.03. The company had revenue of $998.43 million for 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 firm's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.71 earnings per share. As a group, analysts predict that IDEXX Laboratories will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the completion of the transaction, the executive vice president now owns 8,176 shares of the company's stock, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.98% of the stock is owned by corporate insiders.

Institutional Trading of IDEXX Laboratories

A number of hedge funds have recently added to or reduced their stakes in IDXX. MorganRosel Wealth Management LLC acquired a new stake in IDEXX Laboratories during the 1st quarter worth approximately $26,000. Hurley Capital LLC acquired a new position in IDEXX Laboratories during the 4th quarter worth about $29,000. Rialto Wealth Management LLC bought a new stake in shares of IDEXX Laboratories in the 4th quarter valued at about $30,000. Retirement Wealth Solutions LLC bought a new stake in shares of IDEXX Laboratories in the 4th quarter valued at about $31,000. Finally, Colonial Trust Co SC increased its stake in shares of IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after buying an additional 39 shares during the period. Institutional investors and hedge funds 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.