IDEXX Laboratories (NASDAQ:IDXX) Cut to Hold at cut shares of IDEXX Laboratories (NASDAQ:IDXXGet Rating) from a buy rating to a hold rating in a report issued on Friday morning.

A number of other analysts have also recently issued reports on IDXX. Atlantic Securities began coverage on IDEXX Laboratories in a research report on Tuesday, February 8th. They set an overweight rating and a $650.00 price objective on the stock. Bank of America cut IDEXX Laboratories from a buy rating to a neutral rating and lowered their price objective for the company from $550.00 to $470.00 in a research report on Thursday, May 5th. Finally, William Blair restated an outperform rating on shares of IDEXX Laboratories in a research report on Wednesday, February 2nd. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $663.67.

Shares of IDXX stock opened at $345.02 on Friday. IDEXX Laboratories has a 12 month low of $343.62 and a 12 month high of $706.95. The firm has a market cap of $29.07 billion, a PE ratio of 40.45, a price-to-earnings-growth ratio of 3.40 and a beta of 1.10. The stock has a 50 day moving average of $501.98 and a 200-day moving average of $552.57. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 1.21.

IDEXX Laboratories (NASDAQ:IDXXGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.02. The company had revenue of $836.55 million during the quarter, compared to analyst estimates of $836.47 million. IDEXX Laboratories had a return on equity of 103.70% and a net margin of 22.43%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.35 earnings per share. As a group, equities analysts predict that IDEXX Laboratories will post 8.24 EPS for the current fiscal year.

In other IDEXX Laboratories news, Director Jonathan W. Ayers sold 250 shares of the company’s stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $509.70, for a total value of $127,425.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.06% of the company’s stock.

Several hedge funds have recently made changes to their positions in IDXX. EverSource Wealth Advisors LLC bought a new position in shares of IDEXX Laboratories in the fourth quarter valued at about $28,000. Riverview Trust Co acquired a new stake in IDEXX Laboratories in the 1st quarter valued at about $27,000. JNBA Financial Advisors acquired a new stake in IDEXX Laboratories in the 3rd quarter valued at about $31,000. Bell Investment Advisors Inc bought a new position in shares of IDEXX Laboratories in the third quarter worth about $34,000. Finally, Institutional & Family Asset Management LLC lifted its position in shares of IDEXX Laboratories by 216.7% during the third quarter. Institutional & Family Asset Management LLC now owns 57 shares of the company’s stock worth $35,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 84.92% of the company’s stock.

About IDEXX Laboratories (Get Rating)

IDEXX Laboratories, Inc develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through CAG; Water Quality Products; LPD; and Other segments. It provides point-of-care veterinary diagnostic products, including instruments, consumables, and rapid assay test kits; veterinary reference laboratory diagnostic and consulting services; practice management and diagnostic imaging systems and services for veterinarians; and health monitoring, biological materials testing, and laboratory animal diagnostic instruments and services for biomedical research community.

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Analyst Recommendations for IDEXX Laboratories (NASDAQ:IDXX)

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