IDEXX Laboratories, Inc. (IDXX) Receives Consensus Recommendation of “Buy” from Brokerages

IDEXX Laboratories, Inc. (NASDAQ:IDXX) has received a consensus rating of “Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $206.67.

Several equities research analysts recently issued reports on the stock. Piper Jaffray Companies increased their target price on shares of IDEXX Laboratories to $211.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Bank of America increased their target price on shares of IDEXX Laboratories from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. BidaskClub raised shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 31st. Zacks Investment Research lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Canaccord Genuity reissued a “buy” rating and issued a $210.00 target price on shares of IDEXX Laboratories in a report on Monday, January 29th.

In other IDEXX Laboratories news, CEO Jonathan W. Ayers sold 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $148.35, for a total value of $2,670,300.00. Following the completion of the transaction, the chief executive officer now directly owns 1,064,573 shares in the company, valued at approximately $157,929,404.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jonathan W. Ayers sold 22,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $177.52, for a total value of $3,905,440.00. Following the completion of the transaction, the chairman now owns 1,077,112 shares of the company’s stock, valued at $191,208,922.24. The disclosure for this sale can be found here. Insiders sold a total of 122,762 shares of company stock valued at $20,637,764 over the last three months. 2.77% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Koch Industries Inc. boosted its stake in IDEXX Laboratories by 44,533.1% in the 2nd quarter. Koch Industries Inc. now owns 1,399,248 shares of the company’s stock worth $1,391,000 after purchasing an additional 1,396,113 shares during the period. Bank of New York Mellon Corp boosted its stake in IDEXX Laboratories by 19.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,141,206 shares of the company’s stock worth $178,462,000 after purchasing an additional 185,981 shares during the period. Old Mutual Global Investors UK Ltd. boosted its stake in IDEXX Laboratories by 19.8% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 995,156 shares of the company’s stock worth $155,622,000 after purchasing an additional 164,777 shares during the period. American Century Companies Inc. boosted its stake in IDEXX Laboratories by 32.3% in the 4th quarter. American Century Companies Inc. now owns 946,391 shares of the company’s stock worth $147,997,000 after purchasing an additional 231,216 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in IDEXX Laboratories by 57.8% in the 4th quarter. Wells Fargo & Company MN now owns 535,026 shares of the company’s stock worth $83,668,000 after purchasing an additional 196,058 shares during the period. Institutional investors and hedge funds own 86.72% of the company’s stock.

IDEXX Laboratories (NASDAQ:IDXX) traded up $3.67 during midday trading on Friday, hitting $172.95. 726,185 shares of the stock traded hands, compared to its average volume of 627,783. IDEXX Laboratories has a 12-month low of $140.63 and a 12-month high of $198.73. The stock has a market cap of $14,764.38, a price-to-earnings ratio of 58.83, a P/E/G ratio of 2.08 and a beta of 0.58. The company has a quick ratio of 0.80, a current ratio of 0.97 and a debt-to-equity ratio of -11.26.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. IDEXX Laboratories had a net margin of 13.36% and a negative return on equity of 432.19%. The firm had revenue of $506.00 million during the quarter, compared to analyst estimates of $490.51 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. analysts forecast that IDEXX Laboratories will post 4.09 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “IDEXX Laboratories, Inc. (IDXX) Receives Consensus Recommendation of “Buy” from Brokerages” was reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this article on another domain, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this article can be read at https://sportsperspectives.com/2018/02/10/idexx-laboratories-inc-idxx-receives-consensus-recommendation-of-buy-from-brokerages.html.

IDEXX Laboratories Company Profile

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.

Analyst Recommendations for IDEXX Laboratories (NASDAQ:IDXX)

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.

Latest News

Leave a Reply