Idexx Laboratories Inc. (IDXX) Receives $105.20 Average Price Target from Analysts
Shares of Idexx Laboratories Inc. (NASDAQ:IDXX) have earned an average recommendation of “Buy” from the ten brokerages that are covering the firm. Four research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $105.20.
Several research firms have weighed in on IDXX. Zacks Investment Research cut Idexx Laboratories from a “hold” rating to a “sell” rating in a report on Friday, October 28th. Canaccord Genuity restated a “buy” rating and set a $120.00 price target on shares of Idexx Laboratories in a report on Monday, August 22nd. Bank of America Corp. restated a “neutral” rating on shares of Idexx Laboratories in a report on Thursday, September 29th. Stifel Nicolaus raised their price target on Idexx Laboratories from $120.00 to $125.00 and gave the company 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 report on Wednesday, August 3rd.
In related news, Director William T. End sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $109.87, for a total transaction of $549,350.00. Following the completion of the sale, the director now directly owns 48,654 shares of the company’s stock, valued at approximately $5,345,614.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jonathan W. Ayers sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $107.85, for a total value of $4,314,000.00. The disclosure for this sale can be found here. 2.79% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. KCG Holdings Inc. raised its stake in shares of Idexx Laboratories by 113.4% in the third quarter. KCG Holdings Inc. now owns 6,787 shares of the company’s stock worth $765,000 after buying an additional 3,606 shares in the last quarter. USA Financial Portformulas Corp acquired a new stake in shares of Idexx Laboratories during the third quarter worth about $1,264,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Idexx Laboratories by 4.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 9,890 shares of the company’s stock worth $1,115,000 after buying an additional 440 shares in the last quarter. Profund Advisors LLC raised its stake in shares of Idexx Laboratories by 12.6% in the third quarter. Profund Advisors LLC now owns 13,233 shares of the company’s stock worth $1,492,000 after buying an additional 1,481 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Idexx Laboratories by 12.8% in the third quarter. Morgan Stanley now owns 517,871 shares of the company’s stock worth $58,380,000 after buying an additional 58,850 shares in the last quarter. 91.54% of the stock is owned by hedge funds and other institutional investors.
Idexx Laboratories (NASDAQ:IDXX) opened at 109.17 on Thursday. The company has a market cap of $9.79 billion, a P/E ratio of 46.49 and a beta of 0.48. Idexx Laboratories has a one year low of $63.48 and a one year high of $117.84. The company’s 50 day moving average price is $110.49 and its 200-day moving average price is $100.57.
Idexx Laboratories (NASDAQ:IDXX) last issued its earnings results on Tuesday, November 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $448.30 million for the quarter, compared to the consensus estimate of $448.60 million. Idexx Laboratories had a negative return on equity of 788.91% and a net margin of 12.36%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company earned $0.48 EPS. On average, analysts forecast that Idexx Laboratories will post $2.38 EPS for the current fiscal year.
Idexx Laboratories Company Profile
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