IDEXX Laboratories (NASDAQ:IDXX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of IDEXX Laboratories (NASDAQ:IDXX) from a hold rating to a buy rating in a research report report published on Saturday.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group initiated coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a “buy” rating and a $625.00 price objective on the stock. Stifel Nicolaus increased their target price on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the company a “hold” rating in a report on Wednesday, July 2nd. Morgan Stanley increased their target price on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Finally, Leerink Partners increased their target price on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, June 11th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $558.11.

IDEXX Laboratories Stock Performance

IDXX opened at $531.42 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. The company’s fifty day moving average price is $520.81 and its two-hundred day moving average price is $460.39. IDEXX Laboratories has a 1-year low of $356.14 and a 1-year high of $549.52. The company has a market cap of $42.74 billion, a price-to-earnings ratio of 49.11, a PEG ratio of 3.89 and a beta of 1.54.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. The firm had revenue of $998.43 million for the quarter, compared to the consensus estimate of $998.25 million. During the same quarter in the prior year, the company posted $2.71 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. On average, analysts expect that IDEXX Laboratories will post 11.93 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In related news, Director M Anne Szostak sold 1,260 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total transaction of $645,548.40. Following the completion of the sale, the director owned 1,801 shares in the company, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.98% of the company’s stock.

Institutional Trading of IDEXX Laboratories

A number of large investors have recently added to or reduced their stakes in the stock. AGF Management Ltd. purchased a new position in shares of IDEXX Laboratories in the fourth quarter worth about $516,000. Sequoia Financial Advisors LLC increased its stake in shares of IDEXX Laboratories by 6.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 1,685 shares of the company’s stock worth $697,000 after purchasing an additional 98 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of IDEXX Laboratories by 79.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 453 shares of the company’s stock worth $187,000 after purchasing an additional 201 shares in the last quarter. Erste Asset Management GmbH increased its stake in shares of IDEXX Laboratories by 17.9% in the fourth quarter. Erste Asset Management GmbH now owns 3,290 shares of the company’s stock worth $1,365,000 after purchasing an additional 500 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of IDEXX Laboratories by 11.2% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 18,913 shares of the company’s stock worth $7,806,000 after purchasing an additional 1,900 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

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.