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

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) have received a consensus rating of "Moderate Buy" from the nine ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $552.38.

A number of brokerages have issued reports on IDXX. JPMorgan Chase & Co. reduced their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating on the stock in a report on Friday, October 11th. Piper Sandler reiterated a "neutral" rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday. Stifel Nicolaus reduced 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. StockNews.com lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Wednesday, July 10th. Finally, Barclays lowered their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating for the company in a research report on Monday.

IDEXX Laboratories Price Performance

IDXX stock traded down $2.76 during trading on Monday, reaching $414.52. The company's stock had a trading volume of 920,150 shares, compared to its average volume of 492,806. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The company's fifty day moving average is $477.37 and its 200-day moving average is $486.74. The company has a market capitalization of $34.12 billion, a P/E ratio of 39.97, a price-to-earnings-growth ratio of 3.55 and a beta of 1.36. IDEXX Laboratories has a 1 year low of $404.74 and a 1 year high of $583.39.

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

Institutional Trading of IDEXX Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC lifted its holdings in IDEXX Laboratories by 3.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 34,419 shares of the company's stock valued at $18,584,000 after buying an additional 1,078 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of IDEXX Laboratories by 15.5% in the first quarter. Nordea Investment Management AB now owns 13,719 shares of the company's stock valued at $7,447,000 after purchasing an additional 1,839 shares during the period. Daiwa Securities Group Inc. grew its stake in IDEXX Laboratories by 9.0% in the first quarter. Daiwa Securities Group Inc. now owns 12,711 shares of the company's stock worth $6,863,000 after purchasing an additional 1,045 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in IDEXX Laboratories by 906.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 735 shares of the company's stock worth $397,000 after purchasing an additional 662 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in IDEXX Laboratories during the 1st quarter worth $1,472,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

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.