IDEXX Laboratories (NASDAQ:IDXX) Now Covered by Leerink Partners

Research analysts at Leerink Partners began coverage on shares of IDEXX Laboratories (NASDAQ:IDXX) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $500.00 price target on the stock. Leerink Partners’ target price would suggest a potential upside of 18.55% from the stock’s current price.

Several other research analysts have also recently weighed in on IDXX. Stifel Nicolaus lowered their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Barclays reduced their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday. Piper Sandler reiterated a “neutral” rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $546.56.

IDEXX Laboratories Trading Down 0.0 %

IDXX stock opened at $421.75 on Monday. IDEXX Laboratories has a 12-month low of $398.50 and a 12-month high of $583.39. The business’s 50-day moving average is $451.91 and its 200 day moving average is $477.31. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The stock has a market cap of $34.54 billion, a price-to-earnings ratio of 40.67, a PEG ratio of 3.68 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The business had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.53 earnings per share. On average, sell-side analysts anticipate that IDEXX Laboratories will post 10.43 EPS for the current fiscal year.

Insider Activity

In other news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the transaction, the director now directly owns 905 shares in the company, valued at $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.11% of the company’s stock.

Hedge Funds Weigh In On IDEXX Laboratories

Several hedge funds have recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new position in IDEXX Laboratories in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC purchased a new position in shares of IDEXX Laboratories in the second quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of IDEXX Laboratories by 5,700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after purchasing an additional 57 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its stake in IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after buying an additional 60 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in IDEXX Laboratories during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds 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.