IDEXX Laboratories, Inc. (NASDAQ:IDXX) Given Average Rating of "Moderate Buy" by Analysts

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $539.63.

IDXX has been the topic of several recent research reports. Barclays lowered their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. decreased their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating for the company in a research report on Friday, October 11th. Stifel Nicolaus dropped their target price on IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating on the stock in a report on Thursday, October 10th. Leerink Partnrs upgraded shares of IDEXX Laboratories to a "strong-buy" rating in a report on Monday, December 2nd. Finally, Leerink Partners started coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an "outperform" rating and a $500.00 price objective on the stock.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX traded up $0.46 on Tuesday, hitting $413.62. The company's stock had a trading volume of 159,898 shares, compared to its average volume of 514,333. IDEXX Laboratories has a 12 month low of $398.50 and a 12 month high of $583.39. The stock's 50-day moving average is $432.60 and its two-hundred day moving average is $468.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The company has a market capitalization of $33.87 billion, a price-to-earnings ratio of 39.89, a price-to-earnings-growth ratio of 3.99 and a beta of 1.37.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.69 by $0.11. The firm had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. IDEXX Laboratories's revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.53 EPS. On average, equities research analysts forecast that IDEXX Laboratories will post 10.44 EPS for the current year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now directly owns 905 shares in the company, valued at $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.11% of the company's stock.

Hedge Funds Weigh In On IDEXX Laboratories

Large investors have recently made changes to their positions in the business. FSA Wealth Management LLC bought a new position in IDEXX Laboratories during the third quarter valued at about $25,000. Ridgewood Investments LLC acquired a new position in shares of IDEXX Laboratories in the second quarter valued at $27,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of IDEXX Laboratories by 5,700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company's stock valued at $29,000 after purchasing an additional 57 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its position in IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company's stock worth $34,000 after purchasing an additional 60 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in IDEXX Laboratories during the second quarter worth $36,000. Institutional investors and hedge funds 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.