IDEXX Laboratories (IDXX) – Research Analysts’ Recent Ratings Changes

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A number of firms have modified their ratings and price targets on shares of IDEXX Laboratories (NASDAQ: IDXX) recently:

  • 8/17/2018 – IDEXX Laboratories had its price target raised by analysts at Credit Suisse Group AG from $255.00 to $259.00. They now have an “outperform” rating on the stock.
  • 8/6/2018 – IDEXX Laboratories was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “IDEXX exited the second quarter on a solid note. The company's organic revenue growth trail continues to remain robust. CAG business remains strong fueled by global Catalyst One uptake. The companion animal market fundamentals remain solid with tremendous global runway for growth. IDEXX’ innovation-based, multi-modality global strategy, enabled by enhanced commercial capability accelerated recurring CAG Diagnostics revenue growth. A raised EPS guidance for 2018 is indicative of this trend to continue ahead. Over the past three months, IDEXX has been outperforming its industry. On the flip side, the news of its peer Henry Schein’s decision to spin out its animal health business raises concern for IDEXX. This wing will merge with IDEXX’ peer Vet First Choice giving the company a tough competition. Intense competition, currency fluctuations along with high dependence on third-party distributors remain a few overhangs for IDEXX.”
  • 8/2/2018 – IDEXX Laboratories was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $274.00 price target on the stock. According to Zacks, “IDEXX exited the second quarter on a solid note. The company's organic revenue growth trail continues to remain robust. CAG business remains strong fueled by global Catalyst One uptake. The companion animal market fundamentals remain solid with tremendous global runway for growth. IDEXX’ innovation-based, multi-modality global strategy, enabled by enhanced commercial capability accelerated recurring CAG Diagnostics revenue growth. A raised EPS guidance for 2018 is indicative of this trend to continue ahead. Over the past three months, IDEXX has been outperforming its industry. On the flip side, the news of its peer Henry Schein’s decision to spin out its animal health business raises concern for IDEXX. This wing will merge with IDEXX’ peer Vet First Choice giving the company a tough competition. Intense competition, currency fluctuations along with high dependence on third-party distributors remain a few overhangs for IDEXX.”
  • 8/1/2018 – IDEXX Laboratories had its price target raised by analysts at Piper Jaffray Companies to $236.00. They now have an “overweight” rating on the stock.
  • 7/31/2018 – IDEXX Laboratories was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 7/10/2018 – IDEXX Laboratories had its price target raised by analysts at Stifel Nicolaus from $225.00 to $260.00. They now have a “buy” rating on the stock.
  • 7/9/2018 – IDEXX Laboratories was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Over the past three months, IDEXX has been outperforming its industry. The company's organic revenue growth trail continues to remain robust. CAG business remains strong fueled by global Catalyst One uptake. The companion animal market fundamentals remain solid with tremendous global runway for growth. IDEXX’ innovation-based, multi-modality global strategy, enabled by enhanced commercial capability accelerated recurring CAG Diagnostics revenue growth. Moreover, the strong top-line growth in the last-reported first quarter 2018 was driven by considerable contributions from the rest of the business segments. A raised EPS guidance for 2018 was also encouraging. On the flip side, the news of Henry Schein’s decision to spin out its animal health business raises concern. This wing will merge with IDEXX’ peer Vet First Choice giving the company a tough competition.”
  • 6/21/2018 – IDEXX Laboratories had its price target raised by analysts at Credit Suisse Group AG from $228.00 to $231.00. They now have an “outperform” rating on the stock.

Shares of IDEXX Laboratories stock opened at $243.50 on Monday. The company has a debt-to-equity ratio of -14.77, a current ratio of 0.96 and a quick ratio of 0.73. The stock has a market capitalization of $21.09 billion, a P/E ratio of 74.24, a PEG ratio of 2.22 and a beta of 0.69. IDEXX Laboratories, Inc. has a fifty-two week low of $146.09 and a fifty-two week high of $252.49.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Wednesday, August 1st. The company reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.06. The firm had revenue of $580.75 million during the quarter, compared to analyst estimates of $574.68 million. IDEXX Laboratories had a negative return on equity of 703.80% and a net margin of 14.50%. IDEXX Laboratories’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 earnings per share. equities research analysts anticipate that IDEXX Laboratories, Inc. will post 4.18 earnings per share for the current fiscal year.

In other news, Director Bruce L. Claflin acquired 415 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was purchased at an average cost of $242.12 per share, with a total value of $100,479.80. Following the completion of the acquisition, the director now directly owns 1,415 shares in the company, valued at $342,599.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Giovani Twigge sold 1,626 shares of the business’s stock in a transaction dated Tuesday, May 29th. The shares were sold at an average price of $204.37, for a total value of $332,305.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,699 shares of company stock valued at $2,515,943. 2.56% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Scott & Selber Inc. bought a new position in shares of IDEXX Laboratories during the second quarter valued at approximately $3,902,000. Eqis Capital Management Inc. bought a new position in shares of IDEXX Laboratories during the second quarter valued at approximately $2,610,000. Moody Lynn & Lieberson LLC grew its holdings in shares of IDEXX Laboratories by 198.2% during the second quarter. Moody Lynn & Lieberson LLC now owns 28,516 shares of the company’s stock valued at $6,215,000 after purchasing an additional 18,954 shares during the last quarter. Legacy Capital Partners Inc. bought a new position in shares of IDEXX Laboratories during the second quarter valued at approximately $214,000. Finally, AGF Investments Inc. grew its holdings in shares of IDEXX Laboratories by 5,862.3% during the first quarter. AGF Investments Inc. now owns 338,001 shares of the company’s stock valued at $64,690,000 after purchasing an additional 332,332 shares during the last quarter. 86.85% of the stock is owned by hedge funds and other institutional investors.

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.

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