Barclays Lowers IDEXX Laboratories (NASDAQ:IDXX) Price Target to $570.00

IDEXX Laboratories (NASDAQ:IDXX) had its price target dropped by stock analysts at Barclays from $655.00 to $570.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 18.60% from the company’s current price.

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

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX traded up $4.78 during mid-day trading on Thursday, reaching $480.60. 547,954 shares of the company were exchanged, compared to its average volume of 509,434. IDEXX Laboratories has a 52 week low of $372.50 and a 52 week high of $583.39. The company’s 50 day moving average price is $525.21 and its 200 day moving average price is $512.07. The stock has a market capitalization of $39.69 billion, a PE ratio of 46.52, a PEG ratio of 3.74 and a beta of 1.27. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.40.

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

Insiders Place Their Bets

In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the sale, the chief executive officer now owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction on Wednesday, February 7th. The stock was 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 $16,939,557.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction 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 approximately $45,377,624.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,524 shares of company stock worth $24,871,960. 2.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. OFI Invest Asset Management purchased a new stake in shares of IDEXX Laboratories in the 3rd quarter worth approximately $25,000. Valley National Advisers Inc. boosted its holdings in IDEXX Laboratories by 84.6% in the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after acquiring an additional 22 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of IDEXX Laboratories in the first quarter worth $26,000. Geo Capital Gestora de Recursos Ltd bought a new position in shares of IDEXX Laboratories during the third quarter valued at $28,000. Finally, Covestor Ltd increased its holdings in shares of IDEXX Laboratories by 71.8% during the third quarter. Covestor Ltd now owns 67 shares of the company’s stock valued at $29,000 after acquiring an additional 28 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

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.