Morgan Stanley Cuts IDEXX Laboratories (NASDAQ:IDXX) Price Target to $550.00

IDEXX Laboratories (NASDAQ:IDXX) had its target price lowered by Morgan Stanley from $559.00 to $550.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on the company. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. cut 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. Barclays decreased their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Stifel Nicolaus cut their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Finally, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $517.29.

IDEXX Laboratories Trading Down 0.5 %

Shares of IDEXX Laboratories stock opened at $422.05 on Wednesday. IDEXX Laboratories has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The company has a market capitalization of $34.56 billion, a P/E ratio of 40.70, a P/E/G ratio of 3.60 and a beta of 1.36. The company has a fifty day moving average of $424.02 and a 200 day moving average of $454.59.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The firm had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.53 earnings per share. On average, sell-side analysts anticipate that IDEXX Laboratories will post 10.44 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now owns 905 shares of the company’s stock, valued at $380,498.20. This represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Algert Global LLC increased its position in shares of IDEXX Laboratories by 70.0% during the second quarter. Algert Global LLC now owns 709 shares of the company’s stock worth $345,000 after acquiring an additional 292 shares during the period. NewEdge Advisors LLC increased its holdings in IDEXX Laboratories by 36.4% during the 2nd quarter. NewEdge Advisors LLC now owns 9,400 shares of the company’s stock worth $4,580,000 after purchasing an additional 2,506 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in IDEXX Laboratories by 14.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,118 shares of the company’s stock valued at $1,031,000 after purchasing an additional 260 shares in the last quarter. Quarry LP lifted its holdings in shares of IDEXX Laboratories by 170.8% in the 2nd quarter. Quarry LP now owns 176 shares of the company’s stock worth $86,000 after buying an additional 111 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of IDEXX Laboratories by 0.8% during the 2nd quarter. Cetera Investment Advisers now owns 20,290 shares of the company’s stock worth $9,885,000 after buying an additional 161 shares in the last quarter. 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.