Jefferies Financial Group initiated coverage on shares of IDEXX Laboratories (NASDAQ:IDXX - Free Report) in a report released on Tuesday morning, MarketBeat reports. The firm issued a buy rating and a $625.00 price target on the stock.
Other equities research analysts also recently issued research reports about the company. Leerink Partners raised their price target on IDEXX Laboratories from $515.00 to $580.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Wall Street Zen lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Stifel Nicolaus lifted their target price on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a report on Monday, May 19th. Finally, Morgan Stanley increased their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, IDEXX Laboratories has a consensus rating of "Moderate Buy" and an average target price of $554.78.
Read Our Latest Stock Report on IDXX
IDEXX Laboratories Stock Up 1.2%
IDXX traded up $6.31 on Tuesday, hitting $542.65. 631,445 shares of the company were exchanged, compared to its average volume of 645,012. The stock's fifty day moving average is $501.61 and its 200-day moving average is $451.67. IDEXX Laboratories has a 12 month low of $356.14 and a 12 month high of $546.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.81 and a current ratio of 1.16. The company has a market cap of $43.64 billion, a PE ratio of 50.15, a PEG ratio of 3.88 and a beta of 1.55.
IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. The business had revenue of $998.43 million during the quarter, compared to analysts' expectations of $998.25 million. During the same period last year, the business earned $2.71 earnings per share. The firm's revenue was up 3.6% on a year-over-year basis. Equities research analysts predict that IDEXX Laboratories will post 11.93 EPS for the current fiscal year.
Insider Activity
In related news, Director M Anne Szostak sold 1,260 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total value of $645,548.40. Following the completion of the transaction, the director owned 1,801 shares of the company's stock, valued at $922,724.34. The trade was a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.98% of the company's stock.
Hedge Funds Weigh In On IDEXX Laboratories
Several hedge funds and other institutional investors have recently made changes to their positions in the company. SVB Wealth LLC acquired a new stake in shares of IDEXX Laboratories in the 4th quarter valued at $999,000. Smartleaf Asset Management LLC lifted its position in shares of IDEXX Laboratories by 10.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 635 shares of the company's stock worth $262,000 after buying an additional 58 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in IDEXX Laboratories by 363.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 366 shares of the company's stock valued at $151,000 after buying an additional 287 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in IDEXX Laboratories in the fourth quarter valued at about $97,000. Finally, Plato Investment Management Ltd raised its stake in IDEXX Laboratories by 57.2% during the fourth quarter. Plato Investment Management Ltd now owns 2,252 shares of the company's stock worth $934,000 after acquiring an additional 819 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.
About IDEXX Laboratories
(
Get Free Report)
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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