IDEXX Laboratories, Inc. (NASDAQ:IDXX) Given Consensus Recommendation of "Moderate Buy" by Brokerages

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the nine analysts that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $591.50.

A number of analysts recently weighed in on IDXX shares. JPMorgan Chase & Co. raised their target price on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an "overweight" rating in a report on Tuesday, February 6th. Barclays lifted their target price on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an "overweight" rating in a report on Tuesday, February 6th. William Blair reaffirmed an "outperform" rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. The Goldman Sachs Group increased their price target on IDEXX Laboratories from $500.00 to $650.00 and gave the company a "buy" rating in a research report on Wednesday, January 17th. Finally, StockNews.com upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Wednesday, December 20th.

IDEXX Laboratories Price Performance

IDXX stock traded down $0.45 during trading hours on Thursday, hitting $477.79. 399,635 shares of the stock traded hands, compared to its average volume of 427,362. The stock has a 50-day simple moving average of $541.86 and a 200 day simple moving average of $508.71. The company has a market cap of $39.68 billion, a P/E ratio of 47.49, a P/E/G ratio of 3.77 and a beta of 1.26. IDEXX Laboratories has a one year low of $372.50 and a one year high of $583.39. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The company had revenue of $901.60 million during the quarter, compared to the consensus estimate of $891.88 million. IDEXX Laboratories's revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.05 EPS. Equities analysts forecast that IDEXX Laboratories will post 11.15 earnings per share for the current year.

Insider Buying and Selling

In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of IDEXX Laboratories stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the transaction, the senior vice president now owns 6,712 shares of the company's stock, valued at approximately $3,851,815.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the transaction, the chief executive officer now directly owns 79,247 shares in the company, valued at approximately $45,377,624.67. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP George Fennell sold 8,198 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total value of $4,704,586.26. Following the sale, the senior vice president now owns 6,712 shares of the company's stock, valued at $3,851,815.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,524 shares of company stock valued at $24,871,960. Corporate insiders own 2.11% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Gotham Asset Management LLC increased its holdings in IDEXX Laboratories by 79.9% in the third quarter. Gotham Asset Management LLC now owns 17,427 shares of the company's stock worth $7,620,000 after buying an additional 7,741 shares during the last quarter. NewEdge Wealth LLC increased its stake in shares of IDEXX Laboratories by 30.4% during the 3rd quarter. NewEdge Wealth LLC now owns 639 shares of the company's stock worth $279,000 after purchasing an additional 149 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of IDEXX Laboratories by 25.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,593 shares of the company's stock valued at $24,196,000 after purchasing an additional 8,831 shares in the last quarter. Carderock Capital Management Inc. raised its holdings in shares of IDEXX Laboratories by 35.7% during the 4th quarter. Carderock Capital Management Inc. now owns 16,416 shares of the company's stock valued at $9,112,000 after purchasing an additional 4,315 shares in the last quarter. Finally, Mitchell Capital Management Co. lifted its stake in shares of IDEXX Laboratories by 1.3% in the 3rd quarter. Mitchell Capital Management Co. now owns 6,372 shares of the company's stock valued at $2,786,000 after purchasing an additional 79 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

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.