IDEXX Laboratories (NASDAQ:IDXX) PT Lowered to $500.00

IDEXX Laboratories (NASDAQ:IDXX) had its target price cut by Stifel Nicolaus from $510.00 to $500.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts also recently weighed in on IDXX. BTIG Research began coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a buy rating and a $580.00 target price for the company. StockNews.com downgraded shares of IDEXX Laboratories from a buy rating to a hold rating in a research report on Wednesday, July 10th. Finally, Piper Sandler reduced their price objective on shares of IDEXX Laboratories from $600.00 to $520.00 and set a neutral rating for the company in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $574.13.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $476.27 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average price of $488.00 and a 200 day moving average price of $493.93. The company has a market cap of $39.33 billion, a P/E ratio of 46.11, a PEG ratio of 4.14 and a beta of 1.33. IDEXX Laboratories has a 12 month low of $372.50 and a 12 month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data 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 net margin of 22.34% and a return on equity of 57.03%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the company earned $2.67 EPS. The business’s revenue was up 6.4% on a year-over-year basis. Sell-side analysts predict that IDEXX Laboratories will post 10.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Creative Planning increased its stake in shares of IDEXX Laboratories by 2.6% during the 3rd quarter. Creative Planning now owns 24,436 shares of the company’s stock worth $12,346,000 after purchasing an additional 614 shares in the last quarter. Procyon Advisors LLC boosted its position in IDEXX Laboratories by 2.2% during the third quarter. Procyon Advisors LLC now owns 1,544 shares of the company’s stock worth $780,000 after acquiring an additional 33 shares during the last quarter. Crestmont Private Wealth LLC boosted its position in IDEXX Laboratories by 14.4% during the third quarter. Crestmont Private Wealth LLC now owns 525 shares of the company’s stock worth $265,000 after acquiring an additional 66 shares during the last quarter. CHICAGO TRUST Co NA boosted its position in IDEXX Laboratories by 29.3% during the third quarter. CHICAGO TRUST Co NA now owns 3,990 shares of the company’s stock worth $2,016,000 after acquiring an additional 904 shares during the last quarter. Finally, Carnegie Investment Counsel acquired a new stake in IDEXX Laboratories during the third quarter worth approximately $205,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

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.