IDEXX Laboratories, Inc. (NASDAQ:IDXX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have been given an average rating of “Moderate Buy” by the nine research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $574.13.

A number of research firms have recently weighed in on IDXX. JPMorgan Chase & Co. dropped their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday. Stifel Nicolaus lowered their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. BTIG Research began coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target on the stock. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler reduced their target price on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Riverview Trust Co bought a new position in shares of IDEXX Laboratories in the first quarter valued at approximately $26,000. Crewe Advisors LLC acquired a new stake in shares of IDEXX Laboratories in the first quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $27,000. Institutional & Family Asset Management LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $36,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX opened at $478.00 on Thursday. The stock has a fifty day moving average of $488.46 and a 200-day moving average of $493.17. The firm has a market capitalization of $39.48 billion, a P/E ratio of 46.27, a PEG ratio of 4.14 and a beta of 1.33. IDEXX Laboratories has a 12-month low of $372.50 and a 12-month high of $583.39. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company earned $2.67 EPS. IDEXX Laboratories’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities analysts forecast that IDEXX Laboratories will post 10.44 EPS for the current fiscal year.

About IDEXX Laboratories

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.