IDEXX Laboratories (IDXX) Given New $231.00 Price Target at Credit Suisse Group

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IDEXX Laboratories (NASDAQ:IDXX) had its target price boosted by Credit Suisse Group from $228.00 to $231.00 in a report released on Thursday. The firm currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut IDEXX Laboratories from a hold rating to a sell rating in a research report on Monday, April 9th. BidaskClub upgraded IDEXX Laboratories from a buy rating to a strong-buy rating in a research report on Wednesday, March 7th. Stifel Nicolaus increased their price objective on IDEXX Laboratories from $215.00 to $225.00 and gave the stock a buy rating in a research report on Monday, May 7th. ValuEngine upgraded IDEXX Laboratories from a hold rating to a buy rating in a research report on Wednesday, May 2nd. Finally, Canaccord Genuity reiterated a positive rating and issued a $215.00 price objective on shares of IDEXX Laboratories in a research report on Monday, May 7th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $222.43.

IDEXX Laboratories traded down $0.37, hitting $221.54, during trading hours on Thursday, Marketbeat.com reports. The company’s stock had a trading volume of 2,858 shares, compared to its average volume of 407,052. The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of 67.98, a PEG ratio of 2.67 and a beta of 0.64. The company has a debt-to-equity ratio of -12.43, a quick ratio of 0.72 and a current ratio of 0.96. IDEXX Laboratories has a 52-week low of $146.09 and a 52-week high of $229.01.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Friday, May 4th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.09. The firm had revenue of $537.60 million during the quarter, compared to analysts’ expectations of $525.14 million. IDEXX Laboratories had a negative return on equity of 530.24% and a net margin of 13.87%. IDEXX Laboratories’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share. analysts predict that IDEXX Laboratories will post 4.17 EPS for the current year.

In other IDEXX Laboratories news, insider Giovani Twigge sold 1,626 shares of the company’s stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of $204.37, for a total value of $332,305.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William T. End sold 9,470 shares of the company’s stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $208.36, for a total value of $1,973,169.20. Following the completion of the sale, the director now directly owns 31,786 shares in the company, valued at approximately $6,622,930.96. The disclosure for this sale can be found here. Insiders sold 11,571 shares of company stock worth $2,405,215 in the last three months. 2.56% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of IDXX. Victory Capital Management Inc. boosted its stake in shares of IDEXX Laboratories by 10.2% during the fourth quarter. Victory Capital Management Inc. now owns 11,500 shares of the company’s stock valued at $1,798,000 after acquiring an additional 1,060 shares during the last quarter. Sei Investments Co. boosted its stake in shares of IDEXX Laboratories by 28.4% during the fourth quarter. Sei Investments Co. now owns 55,806 shares of the company’s stock valued at $8,727,000 after acquiring an additional 12,360 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of IDEXX Laboratories by 57.8% during the fourth quarter. Wells Fargo & Company MN now owns 535,026 shares of the company’s stock valued at $83,668,000 after acquiring an additional 196,058 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of IDEXX Laboratories by 7.6% during the fourth quarter. Arizona State Retirement System now owns 44,058 shares of the company’s stock valued at $6,890,000 after acquiring an additional 3,115 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of IDEXX Laboratories by 34.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 13,418 shares of the company’s stock valued at $2,098,000 after acquiring an additional 3,433 shares during the last quarter. 86.28% of the stock is currently owned by institutional investors and hedge funds.

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. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

Analyst Recommendations for IDEXX Laboratories (NASDAQ:IDXX)

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