BidaskClub downgraded shares of IDEXX Laboratories (NASDAQ:IDXX) from a strong-buy rating to a buy rating in a report issued on Tuesday.

A number of other analysts also recently issued reports on IDXX. Zacks Investment Research downgraded IDEXX Laboratories from a buy rating to a hold rating in a research report on Friday, May 18th. Credit Suisse Group raised their target price on IDEXX Laboratories from $209.00 to $228.00 and gave the stock an outperform rating in a research report on Friday, June 1st. Stifel Nicolaus raised their target price on IDEXX Laboratories from $225.00 to $260.00 and gave the stock a buy rating in a research report on Tuesday, July 10th. Finally, Piper Jaffray Companies raised their target price on IDEXX Laboratories to $236.00 and gave the stock an overweight rating in a research report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $244.00.

Shares of IDXX opened at $249.29 on Tuesday. The company has a debt-to-equity ratio of -14.77, a current ratio of 0.96 and a quick ratio of 0.73. The company has a market cap of $21.27 billion, a P/E ratio of 64.64, a price-to-earnings-growth ratio of 2.25 and a beta of 0.64. IDEXX Laboratories has a 12 month low of $146.09 and a 12 month high of $256.22.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Wednesday, August 1st. The company reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.06. IDEXX Laboratories had a negative return on equity of 703.80% and a net margin of 14.50%. The business had revenue of $580.75 million during the quarter, compared to the consensus estimate of $574.68 million. During the same period last year, the business posted $0.87 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. equities research analysts predict that IDEXX Laboratories will post 4.18 EPS for the current year.

In other IDEXX Laboratories news, insider Michael Lane sold 5,912 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $243.78, for a total value of $1,441,227.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Jonathan W. Ayers sold 30,000 shares of IDEXX Laboratories stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $245.50, for a total value of $7,365,000.00. The disclosure for this sale can be found here. Insiders sold 70,129 shares of company stock valued at $17,159,219 over the last three months. Company insiders own 2.56% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Schroder Investment Management Group grew its position in shares of IDEXX Laboratories by 97.9% in the second quarter. Schroder Investment Management Group now owns 110,276 shares of the company’s stock valued at $23,982,000 after purchasing an additional 54,555 shares in the last quarter. Fundsmith Equity Fund L.P. purchased a new position in shares of IDEXX Laboratories in the second quarter valued at $965,278,000. Andra AP fonden grew its position in shares of IDEXX Laboratories by 4.4% in the second quarter. Andra AP fonden now owns 40,500 shares of the company’s stock valued at $8,827,000 after purchasing an additional 1,700 shares in the last quarter. Global X Management Co LLC grew its position in shares of IDEXX Laboratories by 33.9% in the second quarter. Global X Management Co LLC now owns 3,453 shares of the company’s stock valued at $753,000 after purchasing an additional 874 shares in the last quarter. Finally, Morse Asset Management Inc grew its position in shares of IDEXX Laboratories by 7.7% in the second quarter. Morse Asset Management Inc now owns 17,687 shares of the company’s stock valued at $3,855,000 after purchasing an additional 1,265 shares in the last quarter. Institutional investors own 91.19% of the company’s stock.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

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Analyst Recommendations for IDEXX Laboratories (NASDAQ:IDXX)

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