Analysts Set IDEXX Laboratories, Inc. (NASDAQ:IDXX) Target Price at $591.50

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $591.50.

IDXX has been the topic of several recent analyst reports. Piper Sandler lowered IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target on the stock. in a research report on Tuesday, January 30th. BNP Paribas initiated coverage on IDEXX Laboratories in a research report on Thursday, December 7th. They set an “outperform” rating and a $602.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research report on Friday, January 5th. JPMorgan Chase & Co. boosted their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Finally, Barclays boosted their price target on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th.

Insider Transactions at IDEXX Laboratories

In related news, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 29,718 shares in the company, valued at approximately $16,939,557.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 29,718 shares in the company, valued at approximately $16,939,557.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP George Fennell sold 8,198 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total value of $4,704,586.26. Following the completion of 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 three months, insiders sold 43,524 shares of company stock worth $24,871,960. 2.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On IDEXX Laboratories

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IDXX. Moneta Group Investment Advisors LLC raised its holdings in IDEXX Laboratories by 121,647.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,447,279 shares of the company’s stock valued at $3,038,192,000 after acquiring an additional 7,441,162 shares in the last quarter. Norges Bank acquired a new position in shares of IDEXX Laboratories during the 4th quarter worth $512,190,000. International Assets Investment Management LLC raised its holdings in shares of IDEXX Laboratories by 51,631.3% during the 4th quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock worth $304,075,000 after buying an additional 546,775 shares in the last quarter. Morgan Stanley raised its holdings in shares of IDEXX Laboratories by 36.0% during the 4th quarter. Morgan Stanley now owns 986,232 shares of the company’s stock worth $402,344,000 after buying an additional 260,926 shares in the last quarter. Finally, Capital Research Global Investors acquired a new position in shares of IDEXX Laboratories during the 4th quarter worth $135,910,000. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Up 0.1 %

NASDAQ IDXX opened at $539.93 on Friday. The stock’s 50-day moving average is $548.25 and its 200-day moving average is $501.97. IDEXX Laboratories has a one year low of $372.50 and a one year high of $583.39. The firm has a market cap of $44.86 billion, a P/E ratio of 53.62, a P/E/G ratio of 2.91 and a beta of 1.27. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The business had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. During the same quarter last year, the firm earned $2.05 EPS. IDEXX Laboratories’s revenue for the quarter was up 8.8% compared to the same quarter last year. Sell-side analysts anticipate that IDEXX Laboratories will post 11.15 earnings per share for the current fiscal year.

IDEXX Laboratories Company Profile

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.