IDEXX Laboratories, Inc. (NASDAQ:IDXX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $552.38.

Several research analysts have weighed in on IDXX shares. Stifel Nicolaus lowered their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Piper Sandler reissued a “neutral” rating and issued a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. BTIG Research started coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. 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 note on Monday, November 4th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in IDEXX Laboratories in the first quarter worth approximately $26,000. Ridgewood Investments LLC purchased a new position in IDEXX Laboratories in the second quarter worth approximately $27,000. Institutional & Family Asset Management LLC purchased a new position in IDEXX Laboratories in the second quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in 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 worth $29,000 after acquiring an additional 57 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in IDEXX Laboratories by 750.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 0.1 %

Shares of IDXX stock opened at $433.28 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The firm has a market cap of $35.48 billion, a PE ratio of 41.78, a price-to-earnings-growth ratio of 3.78 and a beta of 1.36. The company has a 50-day moving average of $472.83 and a two-hundred day moving average of $485.13. IDEXX Laboratories has a 1-year low of $404.74 and a 1-year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.11. The company had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. IDEXX Laboratories’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.53 earnings per share. On average, analysts predict that IDEXX Laboratories will post 10.43 EPS for the current year.

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.