IDEXX Laboratories (NASDAQ:IDXX) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, January 5th.
Other equities analysts have also issued research reports about the company. Aegis reaffirmed 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 price target on shares of IDEXX Laboratories in a research note on Friday, October 6th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $185.00 price target 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 report on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $181.71.
Shares of IDEXX Laboratories (NASDAQ IDXX) traded up $0.45 during trading hours on Friday, hitting $187.04. The stock had a trading volume of 658,979 shares, compared to its average volume of 460,136. The company has a debt-to-equity ratio of -12.48, a current ratio of 0.95 and a quick ratio of 0.77. The firm has a market capitalization of $16,310.00, a price-to-earnings ratio of 60.73, a PEG ratio of 2.08 and a beta of 0.42. IDEXX Laboratories has a 12-month low of $120.23 and a 12-month high of $188.55.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Tuesday, October 31st. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. The company had revenue of $492.00 million for the quarter, compared to analyst estimates of $492.94 million. IDEXX Laboratories had a negative return on equity of 336.64% and a net margin of 14.55%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. analysts forecast that IDEXX Laboratories will post 3.23 earnings per share for the current year.
In other IDEXX Laboratories news, insider Giovani Twigge sold 2,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $156.07, for a total transaction of $312,140.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jonathan W. Ayers sold 18,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $153.75, for a total value of $2,767,500.00. Following the transaction, the chief executive officer now directly owns 1,064,573 shares of the company’s stock, valued at $163,678,098.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,160 shares of company stock worth $20,019,685. 2.77% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in IDXX. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of IDEXX Laboratories by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,547 shares of the company’s stock valued at $1,057,000 after purchasing an additional 19 shares during the period. National Asset Management Inc. boosted its position in shares of IDEXX Laboratories by 2.1% in the 2nd quarter. National Asset Management Inc. now owns 2,051 shares of the company’s stock valued at $332,000 after purchasing an additional 42 shares during the period. Advisor Group Inc. boosted its position in shares of IDEXX Laboratories by 1.1% in the 2nd quarter. Advisor Group Inc. now owns 4,998 shares of the company’s stock valued at $732,000 after purchasing an additional 52 shares during the period. QS Investors LLC boosted its position in shares of IDEXX Laboratories by 1.5% in the 2nd quarter. QS Investors LLC now owns 4,068 shares of the company’s stock valued at $657,000 after purchasing an additional 60 shares during the period. Finally, Synovus Financial Corp boosted its position in shares of IDEXX Laboratories by 2.8% in the 2nd quarter. Synovus Financial Corp now owns 2,249 shares of the company’s stock valued at $361,000 after purchasing an additional 61 shares during the period. 86.54% of the stock is owned by institutional investors and hedge funds.
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About IDEXX Laboratories
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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