IDEXX Laboratories, Inc. (IDXX) Receives Consensus Rating of “Buy” from Brokerages

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Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been given an average recommendation of “Buy” by the eight brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $246.00.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of IDEXX Laboratories from a “hold” rating to a “strong-buy” rating and set a $236.00 price target on the stock in a research report on Monday, February 4th. BidaskClub upgraded shares of IDEXX Laboratories from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th.

Shares of IDEXX Laboratories stock traded up $5.34 on Friday, hitting $216.21. 940,708 shares of the company traded hands, compared to its average volume of 547,071. The stock has a market cap of $18.28 billion, a P/E ratio of 50.75 and a beta of 0.97. IDEXX Laboratories has a 52 week low of $176.11 and a 52 week high of $256.22.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Friday, February 1st. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.08. IDEXX Laboratories had a net margin of 17.03% and a negative return on equity of 1,501.97%. The firm had revenue of $549.39 million for the quarter, compared to analysts’ expectations of $546.04 million. During the same quarter last year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts expect that IDEXX Laboratories will post 4.69 earnings per share for the current fiscal year.

In other IDEXX Laboratories news, insider Michael Lane sold 971 shares of IDEXX Laboratories stock in a transaction on Friday, February 15th. The shares were sold at an average price of $208.00, for a total transaction of $201,968.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Giovani Twigge sold 997 shares of IDEXX Laboratories stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $209.08, for a total transaction of $208,452.76. The disclosure for this sale can be found here. Insiders have sold 40,144 shares of company stock valued at $8,378,892 over the last ninety days. 2.56% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of IDXX. Norges Bank purchased a new position in IDEXX Laboratories during the fourth quarter worth $148,632,000. FMR LLC boosted its stake in shares of IDEXX Laboratories by 120.7% during the fourth quarter. FMR LLC now owns 561,266 shares of the company’s stock valued at $104,407,000 after purchasing an additional 306,919 shares during the period. Principal Financial Group Inc. boosted its stake in shares of IDEXX Laboratories by 58.8% during the fourth quarter. Principal Financial Group Inc. now owns 787,832 shares of the company’s stock valued at $146,551,000 after purchasing an additional 291,795 shares during the period. BlackRock Inc. boosted its stake in shares of IDEXX Laboratories by 4.6% during the fourth quarter. BlackRock Inc. now owns 6,549,022 shares of the company’s stock valued at $1,218,251,000 after purchasing an additional 289,208 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of IDEXX Laboratories by 169.5% during the third quarter. Jennison Associates LLC now owns 338,870 shares of the company’s stock valued at $84,602,000 after purchasing an additional 213,132 shares during the period. 92.45% of the stock is owned by institutional investors.

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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