IDEXX Laboratories (NASDAQ:IDXX) Shares Gap Down to $492.76

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $492.76, but opened at $473.00. IDEXX Laboratories shares last traded at $482.48, with a volume of 110,131 shares trading hands.

Analyst Ratings Changes

IDXX has been the topic of several research analyst reports. Piper Sandler lowered IDEXX Laboratories from an "overweight" rating to a "neutral" rating and set a $525.00 price objective on the stock. in a research note on Tuesday, January 30th. William Blair reaffirmed an "outperform" rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Barclays increased their target price on IDEXX Laboratories from $605.00 to $655.00 and gave the company an "overweight" rating in a research report on Tuesday, February 6th. The Goldman Sachs Group increased their target price 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, JPMorgan Chase & Co. increased their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the company an "overweight" rating in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $591.50.

IDEXX Laboratories Stock Down 5.0 %

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17. The company has a market capitalization of $38.87 billion, a P/E ratio of 48.93, a P/E/G ratio of 3.90 and a beta of 1.26. The stock has a 50-day moving average price of $528.85 and a 200-day moving average price of $512.64.

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 (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The firm had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. During the same period in the previous year, the firm earned $2.05 earnings per share. The company's revenue was up 8.8% compared to the same quarter last year. On average, research analysts predict that IDEXX Laboratories, Inc. will post 11.13 EPS for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the business's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total value of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares of the company's stock, valued at $16,939,557.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the completion of the sale, the chief executive officer now owns 79,247 shares in the company, valued at $45,377,624.67. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brian P. Mckeon sold 23,326 shares of the business's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total value of $13,296,053.26. Following the sale, the chief financial officer now owns 29,718 shares of the company's stock, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,524 shares of company stock valued at $24,871,960. 2.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On IDEXX Laboratories

Several hedge funds and other institutional investors have recently modified their holdings of IDXX. OFI Invest Asset Management bought a new stake in shares of IDEXX Laboratories during the third quarter valued at approximately $25,000. Valley National Advisers Inc. grew its stake in IDEXX Laboratories by 84.6% in the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company's stock valued at $26,000 after purchasing an additional 22 shares during the period. Riverview Trust Co bought a new position in IDEXX Laboratories in the 1st quarter valued at $26,000. Geo Capital Gestora de Recursos Ltd bought a new position in IDEXX Laboratories in the 3rd quarter valued at $28,000. Finally, Covestor Ltd grew its stake in IDEXX Laboratories by 71.8% in the 3rd quarter. Covestor Ltd now owns 67 shares of the company's stock valued at $29,000 after purchasing an additional 28 shares during the period. Institutional investors 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.