IDEXX Laboratories (NASDAQ:IDXX) Given New $570.00 Price Target at Barclays

IDEXX Laboratories (NASDAQ:IDXX) had its target price cut by Barclays from $655.00 to $570.00 in a research report released on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts also recently commented on IDXX. The Goldman Sachs Group upped their price objective on IDEXX Laboratories from $500.00 to $650.00 and gave the company a buy rating in a report on Wednesday, January 17th. Piper Sandler cut shares of IDEXX Laboratories from an overweight rating to a neutral rating and set a $525.00 price objective for the company. in a research report on Tuesday, January 30th. JPMorgan Chase & Co. boosted their price objective on IDEXX Laboratories from $600.00 to $630.00 and gave the company an overweight rating in a research report on Tuesday, February 6th. Finally, William Blair reaffirmed an outperform rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $580.88.

IDEXX Laboratories Trading Up 1.0 %

Shares of NASDAQ IDXX traded up $4.78 during midday trading on Thursday, hitting $480.60. The stock had a trading volume of 547,954 shares, compared to its average volume of 509,434. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.17. IDEXX Laboratories has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The firm has a market cap of $39.69 billion, a P/E ratio of 46.52, a price-to-earnings-growth ratio of 3.74 and a beta of 1.27. The company’s 50-day simple moving average is $525.21 and its 200 day simple moving average is $512.07.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.20. The company had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.05 EPS. Research analysts anticipate that IDEXX Laboratories will post 11.06 EPS for the current year.

Insider Activity

In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the transaction, the chief executive officer now owns 79,247 shares in the company, valued at $45,377,624.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value of $6,871,320.00. Following the transaction, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total value of $13,296,053.26. Following the completion of the transaction, the chief financial officer now owns 29,718 shares in the company, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. In the last three months, insiders sold 43,524 shares of company stock worth $24,871,960. 2.11% of the stock is currently owned by company insiders.

Institutional Trading of IDEXX Laboratories

A number of hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its holdings in shares of IDEXX Laboratories by 2.1% during the 4th quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock valued at $780,303,000 after acquiring an additional 28,475 shares in the last quarter. Blair William & Co. IL increased its stake in shares of IDEXX Laboratories by 0.7% in the third quarter. Blair William & Co. IL now owns 1,199,945 shares of the company’s stock valued at $524,700,000 after buying an additional 7,812 shares during the period. Brown Advisory Inc. raised its holdings in IDEXX Laboratories by 2.2% in the 3rd quarter. Brown Advisory Inc. now owns 1,161,124 shares of the company’s stock valued at $507,725,000 after buying an additional 24,741 shares during the last quarter. Morgan Stanley boosted its position in IDEXX Laboratories by 4.7% during the 3rd quarter. Morgan Stanley now owns 1,064,514 shares of the company’s stock worth $465,482,000 after buying an additional 48,095 shares during the period. Finally, Capital World Investors grew its holdings in IDEXX Laboratories by 1.1% during the 4th quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock worth $567,648,000 after acquiring an additional 11,351 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.