IDEXX Laboratories (NASDAQ:IDXX) Given "Neutral" Rating at Piper Sandler

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report)'s stock had its "neutral" rating restated by investment analysts at Piper Sandler in a research report issued on Monday, Benzinga reports. They presently have a $435.00 price target on the stock, down from their prior price target of $520.00. Piper Sandler's price objective would suggest a potential upside of 4.94% from the stock's current price.

Several other analysts have also issued reports on the company. JPMorgan Chase & Co. dropped their target price on IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating on the stock in a report on Friday, October 11th. BTIG Research began coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a "buy" rating and a $580.00 price target for the company. Stifel Nicolaus lowered their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Thursday, October 10th. Barclays cut their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating for the company in a research note on Monday. Finally, StockNews.com downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $552.38.

IDEXX Laboratories Stock Down 0.7 %

Shares of IDXX traded down $2.76 during mid-day trading on Monday, hitting $414.52. 919,710 shares of the company's stock were exchanged, compared to its average volume of 492,788. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. IDEXX Laboratories has a 52 week low of $404.74 and a 52 week high of $583.39. The company has a market cap of $34.12 billion, a PE ratio of 39.97, a P/E/G ratio of 3.55 and a beta of 1.36. The company has a 50-day simple moving average of $478.76 and a 200 day simple moving average of $487.19.

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

Institutional Trading of IDEXX Laboratories

Several hedge funds have recently added to or reduced their stakes in IDXX. Crewe Advisors LLC bought a new stake in shares of IDEXX Laboratories in the first quarter valued at about $26,000. Ridgewood Investments LLC acquired a new position in shares of IDEXX Laboratories during the 2nd quarter worth approximately $27,000. Institutional & Family Asset Management LLC bought a new position in shares of IDEXX Laboratories during the second quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. raised its position 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 buying an additional 57 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company's stock valued at $34,000 after buying an additional 60 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

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.