Goldman Sachs Group initiated coverage on shares of IDEXX Laboratories (NASDAQ:IDXX) in a research report released on Monday morning, BenzingaRatingsTable reports. The firm issued a neutral rating and a $277.00 price target on the stock.

A number of other brokerages have also issued reports on IDXX. Stifel Nicolaus lifted their price target on shares of IDEXX Laboratories from $255.00 to $295.00 and gave the stock a buy rating in a research note on Monday, July 22nd. BidaskClub upgraded shares of IDEXX Laboratories from a buy rating to a strong-buy rating in a research note on Wednesday, August 28th. Credit Suisse Group lifted their price target on shares of IDEXX Laboratories from $282.00 to $293.00 and gave the stock an outperform rating in a research note on Friday, August 16th. Canaccord Genuity restated a buy rating and issued a $285.00 price target on shares of IDEXX Laboratories in a research note on Friday, August 2nd. Finally, Guggenheim started coverage on shares of IDEXX Laboratories in a research note on Thursday, May 23rd. They issued a buy rating and a $276.00 price target for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $285.29.

IDXX opened at $270.99 on Monday. The firm has a market capitalization of $23.00 billion, a P/E ratio of 63.61 and a beta of 0.85. The firm’s 50 day moving average is $279.08 and its 200-day moving average is $252.99. IDEXX Laboratories has a 52-week low of $176.11 and a 52-week high of $292.17. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 4.49.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. The company had revenue of $620.10 million for the quarter, compared to analyst estimates of $627.10 million. IDEXX Laboratories had a net margin of 17.78% and a return on equity of 765.45%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 earnings per share. Equities analysts expect that IDEXX Laboratories will post 4.86 earnings per share for the current fiscal year.

In other IDEXX Laboratories news, Director Rebecca M. Henderson sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $271.17, for a total transaction of $1,084,680.00. Following the completion of the sale, the director now owns 14,696 shares in the company, valued at $3,985,114.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Jonathan W. Ayers sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $262.26, for a total transaction of $5,245,200.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,305 shares of company stock valued at $19,402,442. 2.70% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of IDEXX Laboratories by 32.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,180,724 shares of the company’s stock valued at $875,749,000 after acquiring an additional 787,736 shares during the period. American Century Companies Inc. boosted its holdings in shares of IDEXX Laboratories by 111.2% during the first quarter. American Century Companies Inc. now owns 1,483,074 shares of the company’s stock valued at $331,615,000 after acquiring an additional 780,846 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of IDEXX Laboratories by 27,381.7% during the second quarter. Nuveen Asset Management LLC now owns 568,322 shares of the company’s stock valued at $156,476,000 after acquiring an additional 566,254 shares during the period. Marshall Wace North America L.P. boosted its holdings in shares of IDEXX Laboratories by 1,086.6% during the first quarter. Marshall Wace North America L.P. now owns 404,041 shares of the company’s stock valued at $90,344,000 after acquiring an additional 369,991 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of IDEXX Laboratories by 28.2% during the second quarter. Invesco Ltd. now owns 1,472,407 shares of the company’s stock valued at $405,398,000 after acquiring an additional 323,919 shares during the period. Hedge funds and other institutional investors own 87.04% of the company’s stock.

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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