IDEXX Laboratories (IDXX) Lifted to Hold at BidaskClub
IDEXX Laboratories (NASDAQ:IDXX) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.
Several other research analysts also recently commented on IDXX. Aegis reissued a “sell” rating on shares of IDEXX Laboratories in a research note on Friday, December 8th. Canaccord Genuity reaffirmed a “buy” rating and issued a $180.00 target price on shares of IDEXX Laboratories in a research note on Friday, October 6th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $185.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, October 24th. Finally, Zacks Investment Research downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. IDEXX Laboratories presently has an average rating of “Hold” and a consensus target price of $173.67.
IDEXX Laboratories (IDXX) traded up $2.64 during midday trading on Friday, reaching $166.60. The company had a trading volume of 500,742 shares, compared to its average volume of 357,034. IDEXX Laboratories has a 1 year low of $115.30 and a 1 year high of $173.01. The company has a current ratio of 0.95, a quick ratio of 0.77 and a debt-to-equity ratio of -12.48. The firm has a market cap of $14,530.69, a P/E ratio of 53.92, a P/E/G ratio of 2.29 and a beta of 0.42.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.05. IDEXX Laboratories had a negative return on equity of 336.64% and a net margin of 14.55%. The firm had revenue of $492.00 million during the quarter, compared to the consensus estimate of $492.94 million. During the same period in the prior year, the company earned $0.62 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. research analysts predict that IDEXX Laboratories will post 3.24 EPS for the current fiscal year.
In other news, CEO Jonathan W. Ayers sold 18,000 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $148.35, for a total transaction of $2,670,300.00. Following the completion of the transaction, the chief executive officer now directly owns 1,064,573 shares in the company, valued at approximately $157,929,404.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Jonathan W. Ayers sold 54,000 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $151.32, for a total value of $8,171,280.00. Following the transaction, the chairman now owns 1,064,573 shares of the company’s stock, valued at $161,091,186.36. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock valued at $16,686,200 over the last ninety days. Corporate insiders own 2.77% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IDXX. Victory Capital Management Inc. grew its holdings in shares of IDEXX Laboratories by 16.2% during the 2nd quarter. Victory Capital Management Inc. now owns 9,919 shares of the company’s stock worth $1,601,000 after purchasing an additional 1,385 shares during the period. Pacer Advisors Inc. grew its holdings in shares of IDEXX Laboratories by 12.8% during the 2nd quarter. Pacer Advisors Inc. now owns 3,026 shares of the company’s stock worth $488,000 after purchasing an additional 343 shares during the period. Principal Financial Group Inc. grew its holdings in shares of IDEXX Laboratories by 1.7% during the 2nd quarter. Principal Financial Group Inc. now owns 145,775 shares of the company’s stock worth $23,531,000 after purchasing an additional 2,379 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of IDEXX Laboratories by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,547 shares of the company’s stock worth $1,057,000 after purchasing an additional 19 shares during the period. Finally, Synovus Financial Corp grew its holdings in shares of IDEXX Laboratories by 2.8% during the 2nd quarter. Synovus Financial Corp now owns 2,249 shares of the company’s stock worth $361,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 86.61% of the company’s stock.
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IDEXX Laboratories Company Profile
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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