Idexx Laboratories Inc. (NASDAQ:IDXX) Receives Average Recommendation of “Buy” from Brokerages
Idexx Laboratories Inc. (NASDAQ:IDXX) has received a consensus recommendation of “Buy” from the ten research firms that are presently covering the stock. Five investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $101.25.
Several brokerages recently issued reports on IDXX. Zacks Investment Research downgraded Idexx Laboratories from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Bank of America Corp. reiterated a “neutral” rating on shares of Idexx Laboratories in a report on Thursday, September 29th. Canaccord Genuity reiterated a “buy” rating and set a $120.00 price target on shares of Idexx Laboratories in a report on Monday, August 22nd. Stifel Nicolaus upped their price target on Idexx Laboratories from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, August 16th. Finally, Northcoast Research upgraded Idexx Laboratories from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 3rd.
Idexx Laboratories (NASDAQ:IDXX) traded up 0.05% during midday trading on Thursday, hitting $112.98. The stock had a trading volume of 394,503 shares. The company has a 50-day moving average price of $111.70 and a 200-day moving average price of $94.92. The stock has a market cap of $10.12 billion, a P/E ratio of 51.21 and a beta of 0.41. Idexx Laboratories has a 52 week low of $63.48 and a 52 week high of $115.06.
Idexx Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.12. Idexx Laboratories had a negative return on equity of 414.67% and a net margin of 11.94%. The business earned $467 million during the quarter, compared to the consensus estimate of $444.83 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. Idexx Laboratories’s revenue was up 12.9% compared to the same quarter last year. Equities analysts expect that Idexx Laboratories will post $2.36 EPS for the current year.
In related news, Director William T. End sold 5,000 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $108.50, for a total transaction of $542,500.00. Following the sale, the director now owns 53,564 shares of the company’s stock, valued at approximately $5,811,694. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rebecca M. Henderson sold 9,924 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $110.43, for a total value of $1,095,907.32. Following the sale, the director now directly owns 16,678 shares in the company, valued at approximately $1,841,751.54. The disclosure for this sale can be found here. Insiders own 2.79% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Huntington National Bank boosted its stake in shares of Idexx Laboratories by 112.1% in the second quarter. Huntington National Bank now owns 1,190 shares of the company’s stock worth $111,000 after buying an additional 629 shares during the period. IFP Advisors Inc boosted its stake in shares of Idexx Laboratories by 18.1% in the second quarter. IFP Advisors Inc now owns 1,203 shares of the company’s stock worth $112,000 after buying an additional 184 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Idexx Laboratories during the second quarter worth about $121,000. Tredje AP fonden bought a new stake in shares of Idexx Laboratories during the second quarter worth about $175,000. Finally, Nordea Investment Management AB bought a new stake in shares of Idexx Laboratories during the second quarter worth about $176,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.
Idexx Laboratories Company Profile
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