IDEXX Laboratories (NASDAQ:IDXX) Now Covered by Analysts at BTIG Research

BTIG Research initiated coverage on shares of IDEXX Laboratories (NASDAQ:IDXX) in a report published on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $580.00 price target on the stock.

IDXX has been the subject of a number of other reports. William Blair reiterated an outperform rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Stifel Nicolaus cut their target price on shares of IDEXX Laboratories from $520.00 to $510.00 and set a hold rating for the company in a research report on Monday, June 24th. Morgan Stanley lowered their price target on IDEXX Laboratories from $620.00 to $596.00 and set an overweight rating on the stock in a report on Tuesday, May 14th. StockNews.com lowered IDEXX Laboratories from a buy rating to a hold rating in a report on Wednesday, July 10th. Finally, Barclays lowered their target price on IDEXX Laboratories from $655.00 to $570.00 and set an overweight rating on the stock in a report on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, IDEXX Laboratories has an average rating of Moderate Buy and a consensus target price of $585.89.

IDEXX Laboratories Stock Performance

IDXX stock opened at $470.68 on Thursday. The stock’s 50 day simple moving average is $495.08 and its 200 day simple moving average is $517.93. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40. IDEXX Laboratories has a 12-month low of $372.50 and a 12-month high of $583.39. The stock has a market capitalization of $38.87 billion, a PE ratio of 45.56, a price-to-earnings-growth ratio of 3.86 and a beta of 1.32.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.13. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The firm had revenue of $964.10 million during the quarter, compared to analysts’ expectations of $965.43 million. As a group, research analysts forecast that IDEXX Laboratories will post 11 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In related news, Director Bruce L. Claflin sold 200 shares of IDEXX Laboratories stock in a transaction on Friday, May 17th. The shares were sold at an average price of $540.80, for a total transaction of $108,160.00. Following the transaction, the director now owns 161 shares in the company, valued at approximately $87,068.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate 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 business. Vanguard Group Inc. boosted its stake in IDEXX Laboratories by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after purchasing an additional 98,387 shares during the period. Franklin Resources Inc. grew its stake in IDEXX Laboratories by 2.1% during the fourth quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock valued at $780,303,000 after acquiring an additional 28,475 shares in the last quarter. Capital World Investors increased its holdings in IDEXX Laboratories by 1.1% in the 4th quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock valued at $567,648,000 after acquiring an additional 11,351 shares during the last quarter. Norges Bank purchased a new stake in IDEXX Laboratories in the 4th quarter worth $512,190,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of IDEXX Laboratories by 51,631.3% during the 4th quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock valued at $304,075,000 after purchasing an additional 546,775 shares during the last quarter. Hedge funds and other institutional investors 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.