IDEXX Laboratories, Inc. (NASDAQ:IDXX) Receives Average Recommendation of “Hold” from Brokerages

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IDEXX Laboratories, Inc. (NASDAQ:IDXX) has received a consensus rating of “Hold” from the nine research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $289.57.

IDXX has been the subject of a number of analyst reports. BidaskClub lowered shares of IDEXX Laboratories from a “hold” rating to a “sell” rating in a report on Friday, December 13th. Guggenheim set a $310.00 price target on IDEXX Laboratories and gave the company a “buy” rating in a report on Friday, November 1st. ValuEngine lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Goldman Sachs Group initiated coverage on IDEXX Laboratories in a report on Monday, September 9th. They issued a “neutral” rating and a $277.00 price objective for the company. Finally, Zacks Investment Research cut IDEXX Laboratories from a “hold” rating to a “sell” rating and set a $267.00 price objective for the company. in a report on Monday, November 11th.

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,283 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $279.37, for a total value of $917,171.71. Following the completion of the sale, the director now directly owns 584 shares in the company, valued at $163,152.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Giovani Twigge sold 14,750 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.51, for a total value of $3,695,022.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,130 shares of company stock worth $31,118,453. Insiders own 2.70% of the company’s stock.

Large investors have recently made changes to their positions in the company. Captrust Financial Advisors grew its position in shares of IDEXX Laboratories by 32.5% in the 2nd quarter. Captrust Financial Advisors now owns 151 shares of the company’s stock worth $42,000 after buying an additional 37 shares during the period. Synovus Financial Corp boosted its stake in IDEXX Laboratories by 2.0% during the third quarter. Synovus Financial Corp now owns 1,895 shares of the company’s stock worth $518,000 after acquiring an additional 37 shares in the last quarter. Western Wealth Management LLC grew its holdings in IDEXX Laboratories by 0.7% in the second quarter. Western Wealth Management LLC now owns 5,669 shares of the company’s stock worth $1,562,000 after purchasing an additional 40 shares during the period. Colony Group LLC grew its holdings in IDEXX Laboratories by 2.3% in the third quarter. Colony Group LLC now owns 1,924 shares of the company’s stock worth $523,000 after purchasing an additional 44 shares during the period. Finally, Permanens Capital L.P. increased its stake in shares of IDEXX Laboratories by 1.5% during the third quarter. Permanens Capital L.P. now owns 3,350 shares of the company’s stock valued at $911,000 after purchasing an additional 50 shares in the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

IDXX traded down $0.72 during trading on Tuesday, hitting $263.26. 191,788 shares of the stock traded hands, compared to its average volume of 454,586. The firm has a market capitalization of $22.58 billion, a P/E ratio of 61.80 and a beta of 0.73. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.12 and a quick ratio of 0.80. The firm has a 50-day moving average of $256.39 and a 200 day moving average of $271.28. IDEXX Laboratories has a 12-month low of $176.11 and a 12-month high of $294.57.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.10. IDEXX Laboratories had a net margin of 17.99% and a return on equity of 405.71%. The business had revenue of $605.30 million for the quarter, compared to analyst estimates of $597.09 million. During the same quarter last year, the firm earned $1.05 EPS. The company’s revenue was up 11.0% on a year-over-year basis. As a group, equities analysts predict that IDEXX Laboratories will post 4.76 EPS for the current fiscal year.

About IDEXX Laboratories

IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

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Analyst Recommendations for IDEXX Laboratories (NASDAQ:IDXX)

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