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

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has received an average recommendation of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $582.25.

Several brokerages have recently issued reports on IDXX. Morgan Stanley decreased their target price on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research report on Tuesday, May 14th. Barclays cut their price target on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. BTIG Research started coverage on IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target on the stock. Finally, Stifel Nicolaus cut their price target on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research note on Monday, June 24th.

IDEXX Laboratories Stock Down 0.3 %

Shares of NASDAQ:IDXX opened at $482.56 on Wednesday. IDEXX Laboratories has a 52-week low of $372.50 and a 52-week high of $583.39. The firm has a market capitalization of $39.85 billion, a P/E ratio of 46.71, a P/E/G ratio of 3.91 and a beta of 1.32. The stock has a 50 day moving average price of $482.90 and a 200-day moving average price of $508.78. 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) last announced its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company posted $2.67 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts anticipate that IDEXX Laboratories will post 11 EPS for the current fiscal year.

Institutional Trading of IDEXX Laboratories

Several institutional investors have recently added to or reduced their stakes in IDXX. Lindbrook Capital LLC boosted its stake in IDEXX Laboratories by 22.2% during the 4th quarter. Lindbrook Capital LLC now owns 303 shares of the company’s stock valued at $168,000 after purchasing an additional 55 shares during the last quarter. Signaturefd LLC boosted its stake in shares of IDEXX Laboratories by 4.2% in the 4th quarter. Signaturefd LLC now owns 1,248 shares of the company’s stock worth $693,000 after buying an additional 50 shares during the last quarter. CWM LLC boosted its stake in shares of IDEXX Laboratories by 8.3% in the 4th quarter. CWM LLC now owns 3,490 shares of the company’s stock worth $1,937,000 after buying an additional 266 shares during the last quarter. North Star Asset Management Inc. purchased a new position in shares of IDEXX Laboratories in the 4th quarter worth $233,000. Finally, Stock Yards Bank & Trust Co. boosted its stake in shares of IDEXX Laboratories by 123.4% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 3,253 shares of the company’s stock worth $1,806,000 after buying an additional 1,797 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

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.