IDEXX Laboratories (NASDAQ:IDXX) had its target price cut by analysts at Canaccord Genuity from $270.00 to $250.00 in a research note issued to investors on Monday, The Fly reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity’s price target suggests a potential upside of 23.60% from the stock’s previous close.
A number of other analysts also recently weighed in on IDXX. Zacks Investment Research downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, July 9th. Stifel Nicolaus raised their price target on shares of IDEXX Laboratories from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, July 10th. BidaskClub downgraded shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Piper Jaffray Companies lifted their price objective on shares of IDEXX Laboratories to $236.00 and gave the stock an “overweight” rating in a report on Wednesday, August 1st. Finally, Credit Suisse Group lifted their price objective on shares of IDEXX Laboratories from $255.00 to $259.00 and gave the stock an “outperform” rating in a report on Friday, August 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $252.33.
IDXX stock opened at $202.27 on Monday. IDEXX Laboratories has a twelve month low of $146.09 and a twelve month high of $256.22. The company has a market cap of $17.74 billion, a PE ratio of 61.67, a P/E/G ratio of 1.87 and a beta of 0.82.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, November 1st. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.08. IDEXX Laboratories had a net margin of 15.19% and a negative return on equity of 994.76%. The business had revenue of $545.00 million during the quarter, compared to the consensus estimate of $545.66 million. During the same quarter last year, the company earned $0.76 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Research analysts expect that IDEXX Laboratories will post 4.19 EPS for the current fiscal year.
In other IDEXX Laboratories news, VP Jacqueline Studer sold 11,619 shares of IDEXX Laboratories stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $244.03, for a total value of $2,835,384.57. Following the completion of the transaction, the vice president now owns 17,034 shares of the company’s stock, valued at $4,156,807.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jonathan W. Ayers sold 7,000 shares of IDEXX Laboratories stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $247.33, for a total transaction of $1,731,310.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,531 shares of company stock valued at $15,075,322. 2.56% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC acquired a new position in IDEXX Laboratories in the second quarter worth $134,000. Rehmann Capital Advisory Group lifted its stake in IDEXX Laboratories by 44.9% in the second quarter. Rehmann Capital Advisory Group now owns 668 shares of the company’s stock valued at $146,000 after buying an additional 207 shares during the last quarter. HMS Capital Management LLC bought a new stake in IDEXX Laboratories in the third quarter valued at $205,000. Winthrop Advisory Group LLC bought a new stake in IDEXX Laboratories in the second quarter valued at $206,000. Finally, KCM Investment Advisors LLC bought a new stake in IDEXX Laboratories in the second quarter valued at $210,000. 91.27% of the stock is owned by hedge funds and other institutional investors.
IDEXX Laboratories Company Profile
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.
Read More: Treasury Bonds
Receive News & Ratings for IDEXX Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEXX Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.