IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nine research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $586.63.

IDXX has been the topic of several research reports. StockNews.com raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, June 14th. Morgan Stanley reduced their price objective on IDEXX Laboratories from $620.00 to $596.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 14th. Stifel Nicolaus lowered their target price on IDEXX Laboratories from $520.00 to $510.00 and set a "hold" rating for the company in a research note on Monday, June 24th. William Blair restated an "outperform" rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Finally, Barclays lowered their price objective on IDEXX Laboratories from $655.00 to $570.00 and set an "overweight" rating for the company in a research report on Thursday, May 2nd.

Insider Activity

In other IDEXX Laboratories news, Director Bruce L. Claflin sold 200 shares of the company's stock in a transaction on Friday, May 17th. The shares were sold at an average price of $540.80, for a total value of $108,160.00. Following the completion of the transaction, the director now directly owns 161 shares in the company, valued at approximately $87,068.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.18% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in IDEXX Laboratories by 1.2% in the first quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company's stock worth $4,576,476,000 after purchasing an additional 98,387 shares during the period. Franklin Resources Inc. increased its stake in shares of IDEXX Laboratories by 2.1% in the 4th quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company's stock worth $780,303,000 after acquiring an additional 28,475 shares in the last quarter. Morgan Stanley lifted its position in IDEXX Laboratories by 4.7% during the 3rd quarter. Morgan Stanley now owns 1,064,514 shares of the company's stock valued at $465,482,000 after acquiring an additional 48,095 shares during the period. Capital World Investors boosted its stake in IDEXX Laboratories by 1.1% during the fourth quarter. Capital World Investors now owns 1,022,678 shares of the company's stock worth $567,648,000 after acquiring an additional 11,351 shares in the last quarter. Finally, Norges Bank purchased a new stake in IDEXX Laboratories in the fourth quarter worth about $512,190,000. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX traded up $0.83 on Tuesday, hitting $477.23. 414,090 shares of the stock traded hands, compared to its average volume of 474,403. IDEXX Laboratories has a 12 month low of $372.50 and a 12 month high of $583.39. The business's fifty day moving average is $501.52 and its two-hundred day moving average is $526.04. The firm has a market capitalization of $39.41 billion, a price-to-earnings ratio of 46.21, a PEG ratio of 3.97 and a beta of 1.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.13. The firm had revenue of $964.10 million during the quarter, compared to analysts' expectations of $965.43 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. As a group, equities analysts anticipate that IDEXX Laboratories will post 11.03 EPS for the current fiscal year.

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.