IDEXX Laboratories, Inc. (IDXX) Receives Average Recommendation of “Hold” from Brokerages
IDEXX Laboratories, Inc. (NASDAQ:IDXX) has earned a consensus recommendation of “Hold” from the eight brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $173.67.
A number of equities analysts recently issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $185.00 target price on shares of IDEXX Laboratories in a research report on Tuesday, October 24th. Bank of America raised shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a research report on Wednesday, August 23rd. Canaccord Genuity reaffirmed a “buy” rating and set a $180.00 target price on shares of IDEXX Laboratories in a research report on Tuesday, August 22nd. Finally, Zacks Investment Research lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th.
Shares of IDEXX Laboratories (NASDAQ:IDXX) traded down $1.41 during mid-day trading on Monday, reaching $155.00. 466,836 shares of the company were exchanged, compared to its average volume of 535,402. IDEXX Laboratories has a fifty-two week low of $113.71 and a fifty-two week high of $173.01. The company has a market capitalization of $13,641.88, a price-to-earnings ratio of 52.66, a P/E/G ratio of 2.37 and a beta of 0.42. The company has a debt-to-equity ratio of -12.48, a current ratio of 0.95 and a quick ratio of 0.77.
IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Tuesday, October 31st. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. IDEXX Laboratories had a net margin of 14.55% and a negative return on equity of 336.64%. The business had revenue of $492.00 million for the quarter, compared to analyst estimates of $492.94 million. During the same quarter in the previous year, the firm posted $0.62 earnings per share. IDEXX Laboratories’s revenue was up 9.7% compared to the same quarter last year. equities analysts anticipate that IDEXX Laboratories will post 3.24 EPS for the current fiscal year.
In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 54,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $151.32, for a total value of $8,171,280.00. Following the sale, the chairman now owns 1,064,573 shares of the company’s stock, valued at approximately $161,091,186.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jonathan W. Ayers sold 18,000 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $153.75, for a total transaction of $2,767,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,064,573 shares in the company, valued at approximately $163,678,098.75. The disclosure for this sale can be found here. Insiders sold a total of 108,000 shares of company stock worth $16,374,060 in the last three months. Insiders own 2.77% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in IDEXX Laboratories by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 9,264,579 shares of the company’s stock valued at $1,495,488,000 after buying an additional 354,024 shares during the period. BlackRock Inc. increased its holdings in IDEXX Laboratories by 10.5% in the 2nd quarter. BlackRock Inc. now owns 7,100,374 shares of the company’s stock valued at $1,146,142,000 after buying an additional 673,347 shares during the period. Koch Industries Inc. increased its holdings in IDEXX Laboratories by 44,533.1% in the 2nd quarter. Koch Industries Inc. now owns 1,399,248 shares of the company’s stock valued at $1,391,000 after buying an additional 1,396,113 shares during the period. Renaissance Technologies LLC increased its holdings in IDEXX Laboratories by 38.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,351,900 shares of the company’s stock valued at $218,224,000 after buying an additional 376,300 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in IDEXX Laboratories by 42.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,310,660 shares of the company’s stock valued at $211,567,000 after buying an additional 392,790 shares during the period. 86.80% of the stock is currently owned by hedge funds and other institutional investors.
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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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