IDEXX Laboratories (NASDAQ:IDXX) Given New $550.00 Price Target at Morgan Stanley

IDEXX Laboratories (NASDAQ:IDXX) had its price objective lowered by Morgan Stanley from $559.00 to $550.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

IDXX has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Piper Sandler reiterated a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Leerink Partners started coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target on the stock. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $517.29.

IDEXX Laboratories Trading Down 0.5 %

NASDAQ IDXX opened at $422.05 on Wednesday. The firm has a market cap of $34.56 billion, a PE ratio of 40.70, a price-to-earnings-growth ratio of 3.60 and a beta of 1.36. IDEXX Laboratories has a 52 week low of $398.50 and a 52 week high of $583.39. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average price of $424.02 and a 200 day moving average price of $454.59.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The business had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.53 earnings per share. As a group, sell-side analysts forecast that IDEXX Laboratories will post 10.44 EPS for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IDEXX Laboratories

Institutional investors have recently made changes to their positions in the company. Algert Global LLC increased its holdings in IDEXX Laboratories by 70.0% in the second quarter. Algert Global LLC now owns 709 shares of the company’s stock valued at $345,000 after buying an additional 292 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of IDEXX Laboratories by 36.4% during the 2nd quarter. NewEdge Advisors LLC now owns 9,400 shares of the company’s stock valued at $4,580,000 after acquiring an additional 2,506 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of IDEXX Laboratories by 14.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,118 shares of the company’s stock valued at $1,031,000 after acquiring an additional 260 shares during the period. Quarry LP increased its stake in shares of IDEXX Laboratories by 170.8% in the 2nd quarter. Quarry LP now owns 176 shares of the company’s stock valued at $86,000 after purchasing an additional 111 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in IDEXX Laboratories by 0.8% in the 2nd quarter. Cetera Investment Advisers now owns 20,290 shares of the company’s stock worth $9,885,000 after purchasing an additional 161 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Company Profile

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.