Idexx Laboratories Inc. (NASDAQ:IDXX) has earned an average rating of “Buy” from the ten analysts that are currently covering the stock. Five research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $101.25.
Several research analysts have weighed in on the company. Zacks Investment Research downgraded Idexx Laboratories from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 4th. Bank of America Corp. reiterated a “neutral” rating on shares of Idexx Laboratories in a report on Thursday, September 29th. Canaccord Genuity reiterated a “buy” rating and issued a $120.00 price target on shares of Idexx Laboratories in a report on Monday, August 22nd. Stifel Nicolaus boosted their price target on Idexx Laboratories from $120.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, August 16th. Finally, Northcoast Research upgraded Idexx Laboratories from a “sell” rating to a “neutral” rating in a report on Wednesday, August 3rd.
In related news, Director Barry C. Johnson sold 9,924 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $111.37, for a total transaction of $1,105,235.88. Following the completion of the sale, the director now directly owns 13,484 shares of the company’s stock, valued at approximately $1,501,713.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Phd Williams sold 49,560 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $108.94, for a total transaction of $5,399,066.40. The disclosure for this sale can be found here. Corporate insiders own 2.79% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. First Manhattan Co. boosted its stake in shares of Idexx Laboratories by 2,786.9% in the first quarter. First Manhattan Co. now owns 3,522 shares of the company’s stock worth $275,000 after buying an additional 3,400 shares during the period. Aperio Group LLC boosted its stake in shares of Idexx Laboratories by 13.0% in the first quarter. Aperio Group LLC now owns 19,738 shares of the company’s stock worth $1,546,000 after buying an additional 2,265 shares during the period. Virginia Retirement System acquired a new stake in shares of Idexx Laboratories during the first quarter worth $877,000. Ngam Advisors L.P. boosted its stake in shares of Idexx Laboratories by 12.1% in the first quarter. Ngam Advisors L.P. now owns 24,338 shares of the company’s stock worth $1,906,000 after buying an additional 2,635 shares during the period. Finally, Teachers Advisors Inc. boosted its stake in shares of Idexx Laboratories by 6.6% in the first quarter. Teachers Advisors Inc. now owns 102,455 shares of the company’s stock worth $8,024,000 after buying an additional 6,313 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.
Shares of Idexx Laboratories (NASDAQ:IDXX) opened at 115.32 on Thursday. The firm has a market capitalization of $10.33 billion, a PE ratio of 52.28 and a beta of 0.41. Idexx Laboratories has a 52 week low of $63.48 and a 52 week high of $115.52. The stock has a 50 day moving average price of $111.89 and a 200 day moving average price of $95.33.
Idexx Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.12. The company earned $467 million during the quarter, compared to the consensus estimate of $444.83 million. Idexx Laboratories had a negative return on equity of 414.67% and a net margin of 11.94%. Idexx Laboratories’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 EPS. Equities analysts forecast that Idexx Laboratories will post $2.36 earnings per share for the current fiscal year.
About Idexx Laboratories
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