Analysts Set IDEXX Laboratories, Inc. (NASDAQ:IDXX) Price Target at $523.86

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $523.86.

Several research firms have recently issued reports on IDXX. Leerink Partnrs raised shares of IDEXX Laboratories to a "strong-buy" rating in a research report on Monday, December 2nd. StockNews.com raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, November 28th. Leerink Partners began coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an "outperform" rating and a $500.00 price target on the stock. Stifel Nicolaus cut their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. reduced their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating on the stock in a research note on Friday, October 11th.

IDEXX Laboratories Stock Down 2.2 %

IDXX stock opened at $419.26 on Friday. IDEXX Laboratories has a one year low of $398.50 and a one year high of $583.39. The stock has a market capitalization of $34.33 billion, a P/E ratio of 40.43, a PEG ratio of 3.52 and a beta of 1.36. The company has a 50 day moving average price of $423.88 and a two-hundred day moving average price of $458.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.69 by $0.11. The company had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company's quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $2.53 EPS. As a group, sell-side analysts expect that IDEXX Laboratories will post 10.44 EPS for the current year.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now owns 905 shares in the company, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.18% of the company's stock.

Institutional Investors Weigh In On IDEXX Laboratories

Several hedge funds have recently modified their holdings of IDXX. Sovereign Financial Group Inc. lifted its stake in IDEXX Laboratories by 5.1% during the third quarter. Sovereign Financial Group Inc. now owns 470 shares of the company's stock valued at $237,000 after buying an additional 23 shares in the last quarter. Mather Group LLC. raised its position in shares of IDEXX Laboratories by 3.9% in the third quarter. Mather Group LLC. now owns 617 shares of the company's stock valued at $312,000 after purchasing an additional 23 shares during the period. Angeles Wealth Management LLC lifted its position in IDEXX Laboratories by 2.4% during the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company's stock worth $545,000 after acquiring an additional 25 shares during the last quarter. Cranbrook Wealth Management LLC grew its holdings in IDEXX Laboratories by 7.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company's stock valued at $158,000 after buying an additional 25 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in IDEXX Laboratories by 4.0% during the third quarter. First Horizon Advisors Inc. now owns 704 shares of the company's stock worth $356,000 after acquiring an additional 27 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

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.