IDEXX Laboratories (IDXX) Upgraded to “Hold” at BidaskClub

IDEXX Laboratories (NASDAQ:IDXX) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.

Other analysts have also recently issued reports about the company. Canaccord Genuity reissued a “buy” rating and issued a $180.00 price target on shares of IDEXX Laboratories in a report on Friday, October 6th. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Tuesday, October 24th. Stifel Nicolaus reissued a “buy” rating and issued a $185.00 price target on shares of IDEXX Laboratories in a report on Tuesday, October 24th. Finally, Aegis reissued a “sell” rating on shares of IDEXX Laboratories in a report on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $173.67.

Shares of IDEXX Laboratories (NASDAQ:IDXX) opened at $163.96 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of -12.48. The company has a market capitalization of $14,133.79, a P/E ratio of 53.06, a PEG ratio of 2.23 and a beta of 0.42. IDEXX Laboratories has a 1-year low of $115.30 and a 1-year high of $173.01.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. The business had revenue of $492.00 million during the quarter, compared to analysts’ expectations of $492.94 million. IDEXX Laboratories had a negative return on equity of 336.64% and a net margin of 14.55%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $0.62 EPS. sell-side analysts anticipate that IDEXX Laboratories will post 3.24 earnings per share for the current fiscal year.

In other news, Chairman Jonathan W. Ayers sold 54,000 shares of IDEXX Laboratories stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $151.32, for a total value of $8,171,280.00. Following the completion of the sale, the chairman now owns 1,064,573 shares of the company’s stock, valued at $161,091,186.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jonathan W. Ayers sold 18,000 shares of IDEXX Laboratories stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $153.75, for a total value of $2,767,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,064,573 shares of the company’s stock, valued at approximately $163,678,098.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,000 shares of company stock valued at $16,686,200. 2.77% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in IDEXX Laboratories by 4.0% during the second quarter. Vanguard Group Inc. now owns 9,264,579 shares of the company’s stock valued at $1,495,488,000 after acquiring an additional 354,024 shares during the period. BlackRock Inc. grew its position in IDEXX Laboratories by 10.5% during the second quarter. BlackRock Inc. now owns 7,100,374 shares of the company’s stock valued at $1,146,142,000 after acquiring an additional 673,347 shares during the period. Koch Industries Inc. grew its position in IDEXX Laboratories by 44,533.1% during the second quarter. Koch Industries Inc. now owns 1,399,248 shares of the company’s stock valued at $1,391,000 after acquiring an additional 1,396,113 shares during the period. Renaissance Technologies LLC grew its position in IDEXX Laboratories by 38.6% during the second quarter. Renaissance Technologies LLC now owns 1,351,900 shares of the company’s stock valued at $218,224,000 after acquiring an additional 376,300 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in IDEXX Laboratories by 42.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,310,660 shares of the company’s stock valued at $211,567,000 after acquiring an additional 392,790 shares during the period. 86.61% of the stock is owned by hedge funds and other institutional investors.

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About IDEXX Laboratories

IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.

Analyst Recommendations for IDEXX Laboratories (NASDAQ:IDXX)

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