IDEXX Laboratories, Inc. (NASDAQ:IDXX) has received an average rating of “Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $281.00.

A number of brokerages have recently commented on IDXX. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $271.00 price target on the stock in a report on Friday, May 3rd. Guggenheim began coverage on IDEXX Laboratories in a report on Thursday, May 23rd. They set a “buy” rating and a $276.00 price target on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $285.00 target price on shares of IDEXX Laboratories in a research note on Friday, August 2nd. BidaskClub cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus raised their target price on IDEXX Laboratories from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Monday, July 22nd.

In related news, insider Giovani Twigge sold 2,300 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $274.44, for a total value of $631,212.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jonathan W. Ayers sold 20,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $262.26, for a total value of $5,245,200.00. The disclosure for this sale can be found here. Insiders sold a total of 71,905 shares of company stock valued at $18,968,126 in the last quarter. 2.70% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in IDXX. American Century Companies Inc. boosted its position in IDEXX Laboratories by 111.2% during the 1st quarter. American Century Companies Inc. now owns 1,483,074 shares of the company’s stock worth $331,615,000 after acquiring an additional 780,846 shares during the period. Marshall Wace North America L.P. boosted its position in IDEXX Laboratories by 1,086.6% during the 1st quarter. Marshall Wace North America L.P. now owns 404,041 shares of the company’s stock worth $90,344,000 after acquiring an additional 369,991 shares during the period. Principal Financial Group Inc. boosted its position in IDEXX Laboratories by 36.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,076,895 shares of the company’s stock worth $240,793,000 after acquiring an additional 289,063 shares during the period. Thoroughbred Financial Services LLC boosted its position in IDEXX Laboratories by 27,432.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 257,433 shares of the company’s stock worth $25,743,000 after acquiring an additional 256,498 shares during the period. Finally, Frontier Capital Management Co. LLC acquired a new stake in IDEXX Laboratories during the 1st quarter worth about $42,808,000. Hedge funds and other institutional investors own 87.39% of the company’s stock.

NASDAQ IDXX traded down $6.28 during trading hours on Wednesday, hitting $274.63. The company had a trading volume of 61,360 shares, compared to its average volume of 462,560. IDEXX Laboratories has a fifty-two week low of $176.11 and a fifty-two week high of $292.17. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 4.49. The business has a fifty day moving average of $279.17. The company has a market cap of $24.18 billion, a price-to-earnings ratio of 64.47 and a beta of 0.84.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, August 1st. The company reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.06. IDEXX Laboratories had a return on equity of 765.45% and a net margin of 17.78%. The firm had revenue of $620.10 million for the quarter, compared to analyst estimates of $627.10 million. During the same period last year, the company earned $1.23 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts expect that IDEXX Laboratories will post 4.86 earnings per share 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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