Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) have received a consensus recommendation of “Hold” from the eight analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $174.00.
IDXX has been the subject of several analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $185.00 target price on shares of IDEXX Laboratories in a report on Monday, August 21st. BidaskClub upgraded shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. Canaccord Genuity reiterated a “buy” rating and set a $180.00 target price on shares of IDEXX Laboratories in a research report on Tuesday, August 22nd. CL King upgraded shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 target price for the company in a research report on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $186.00 target price for the company in a research report on Wednesday, July 19th.
Shares of IDEXX Laboratories (NASDAQ IDXX) traded down 1.34% during midday trading on Friday, hitting $159.60. 374,206 shares of the company were exchanged. IDEXX Laboratories has a one year low of $102.45 and a one year high of $173.01. The firm has a market capitalization of $13.93 billion, a price-to-earnings ratio of 54.90 and a beta of 0.48. The firm’s 50 day moving average price is $156.62 and its 200 day moving average price is $159.89.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.10. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 473.46%. The firm had revenue of $508.90 million for the quarter, compared to the consensus estimate of $502.44 million. During the same quarter in the prior year, the company posted $0.74 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. Analysts forecast that IDEXX Laboratories will post $3.18 EPS for the current fiscal year.
In related news, Chairman Jonathan W. Ayers sold 13,000 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $150.79, for a total value of $1,960,270.00. Following the transaction, the chairman now owns 1,044,034 shares in the company, valued at approximately $157,429,886.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lawrence D. Kingsley purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average price of $151.76 per share, for a total transaction of $303,520.00. Following the purchase, the director now owns 3,344 shares in the company, valued at $507,485.44. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 151,734 shares of company stock worth $23,436,626. Company insiders own 2.77% of the company’s stock.
A number of large investors have recently modified their holdings of IDXX. D.A. Davidson & CO. increased its position in shares of IDEXX Laboratories by 160.4% during the 2nd quarter. D.A. Davidson & CO. now owns 625 shares of the company’s stock valued at $100,000 after purchasing an additional 385 shares during the last quarter. Sun Life Financial INC increased its holdings in IDEXX Laboratories by 9,085.7% in the 2nd quarter. Sun Life Financial INC now owns 643 shares of the company’s stock worth $104,000 after acquiring an additional 636 shares in the last quarter. BB&T Investment Services Inc. purchased a new stake in IDEXX Laboratories in the 2nd quarter worth approximately $104,000. Capital Advisors Ltd. LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter worth approximately $128,000. Finally, Global X Management Co. LLC increased its holdings in IDEXX Laboratories by 44.6% in the 1st quarter. Global X Management Co. LLC now owns 1,047 shares of the company’s stock worth $162,000 after acquiring an additional 323 shares in the last quarter. 87.64% of the stock is owned by institutional investors and hedge funds.
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.