IDEXX Laboratories (NASDAQ:IDXX) Price Target Lowered to $570.00 at Barclays

IDEXX Laboratories (NASDAQ:IDXX) had its price objective cut by Barclays from $655.00 to $570.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts also recently issued reports on the company. Piper Sandler downgraded IDEXX Laboratories from an overweight rating to a neutral rating and set a $525.00 target price for the company. in a research note on Tuesday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an overweight rating in a research report on Tuesday, February 6th. The Goldman Sachs Group increased their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a buy rating in a report on Wednesday, January 17th. Finally, William Blair restated an outperform rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $580.88.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX traded up $4.78 during midday trading on Thursday, reaching $480.60. The stock had a trading volume of 547,954 shares, compared to its average volume of 509,434. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. The stock has a market cap of $39.69 billion, a P/E ratio of 46.52, a P/E/G ratio of 3.74 and a beta of 1.27. The firm has a fifty day simple moving average of $525.21 and a two-hundred day simple moving average of $512.07. IDEXX Laboratories has a 12-month low of $372.50 and a 12-month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.20. The business had revenue of $901.60 million for the quarter, compared to the consensus estimate of $891.88 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 earnings per share. On average, equities analysts expect that IDEXX Laboratories will post 11.06 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the transaction, the chief executive officer now owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the transaction, the chief executive officer now directly owns 79,247 shares in the company, valued at $45,377,624.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total value of $13,296,053.26. Following the completion of the sale, the chief financial officer now owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. Insiders have sold 43,524 shares of company stock valued at $24,871,960 in the last ninety days. Insiders own 2.11% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. lifted its position in IDEXX Laboratories by 4.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 7,650 shares of the company’s stock valued at $3,345,000 after buying an additional 302 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of IDEXX Laboratories by 32.7% during the 3rd quarter. Raymond James & Associates now owns 97,994 shares of the company’s stock valued at $42,850,000 after acquiring an additional 24,147 shares in the last quarter. Simon Quick Advisors LLC boosted its position in IDEXX Laboratories by 25.0% during the 3rd quarter. Simon Quick Advisors LLC now owns 704 shares of the company’s stock worth $308,000 after purchasing an additional 141 shares during the period. Legacy Financial Group LLC acquired a new stake in IDEXX Laboratories in the 3rd quarter valued at $125,000. Finally, NorthRock Partners LLC purchased a new position in IDEXX Laboratories in the third quarter valued at about $230,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Company Profile

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.