Analysts Set IDEXX Laboratories, Inc. (IDXX) Target Price at $174.00
IDEXX Laboratories, Inc. (NASDAQ:IDXX) has earned an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $174.00.
Several analysts recently issued reports on the company. Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $187.00 target price for the company in a research report on Monday, May 29th. BidaskClub upgraded IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. Canaccord Genuity reiterated a “buy” rating and set a $180.00 target price on shares of IDEXX Laboratories in a research report on Tuesday, June 13th. Aegis assumed coverage on IDEXX Laboratories in a research report on Wednesday, May 31st. They set a “sell” rating and a $118.00 target price for the company. They noted that the move was a valuation call. Finally, CL King upgraded IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 target price for the company in a research report on Friday, July 28th.
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In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $150.79, for a total transaction of $1,960,270.00. Following the completion of the transaction, the chairman now owns 1,044,034 shares in the company, valued at approximately $157,429,886.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan W. Ayers sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $154.91, for a total value of $2,788,380.00. Following the transaction, the chief executive officer now owns 1,043,034 shares of the company’s stock, valued at approximately $161,576,396.94. The disclosure for this sale can be found here. Insiders have sold a total of 151,734 shares of company stock valued at $23,436,626 in the last 90 days. 2.77% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IDXX. D.A. Davidson & CO. grew its holdings in IDEXX Laboratories by 160.4% during the 2nd quarter. D.A. Davidson & CO. now owns 625 shares of the company’s stock valued at $100,000 after buying an additional 385 shares in the last quarter. Sun Life Financial INC grew its holdings in IDEXX Laboratories by 9,085.7% during the 2nd quarter. Sun Life Financial INC now owns 643 shares of the company’s stock valued at $104,000 after buying an additional 636 shares in the last quarter. BB&T Investment Services Inc. purchased a new position in IDEXX Laboratories during the 2nd quarter valued at approximately $104,000. Bronfman E.L. Rothschild L.P. grew its holdings in IDEXX Laboratories by 2.3% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the company’s stock valued at $119,000 after buying an additional 17 shares in the last quarter. Finally, Capital Advisors Ltd. LLC purchased a new position in IDEXX Laboratories during the 2nd quarter valued at approximately $128,000. Institutional investors and hedge funds own 87.73% of the company’s stock.
Shares of IDEXX Laboratories (NASDAQ:IDXX) traded up 0.11% on Wednesday, hitting $158.97. The stock had a trading volume of 774,056 shares. The firm has a 50-day moving average price of $155.18 and a 200-day moving average price of $158.87. The stock has a market capitalization of $13.87 billion, a P/E ratio of 54.69 and a beta of 0.49. IDEXX Laboratories has a 52 week low of $102.45 and a 52 week high of $173.01.
IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.10. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. The firm had revenue of $508.90 million during the quarter, compared to analysts’ expectations of $502.44 million. During the same quarter last year, the business posted $0.74 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. Equities analysts expect that IDEXX Laboratories will post $3.18 earnings per share for the current fiscal year.
About IDEXX Laboratories
IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.
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