IDEXX Laboratories (NASDAQ:IDXX) Receives “Neutral” Rating from Piper Sandler

IDEXX Laboratories (NASDAQ:IDXX)‘s stock had its “neutral” rating reissued by research analysts at Piper Sandler in a research note issued on Monday, Benzinga reports. They currently have a $435.00 price objective on the stock, down from their previous price objective of $520.00. Piper Sandler’s target price would indicate a potential upside of 4.11% from the company’s current price.

IDXX has been the subject of a number of other reports. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. BTIG Research began coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. Stifel Nicolaus decreased their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Barclays cut their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $552.38.

IDEXX Laboratories Stock Performance

IDXX stock traded up $0.54 during trading hours on Monday, hitting $417.82. 206,028 shares of the stock were exchanged, compared to its average volume of 489,335. The company has a 50-day simple moving average of $478.76 and a two-hundred day simple moving average of $487.19. The firm has a market capitalization of $34.39 billion, a P/E ratio of 40.45, a P/E/G ratio of 3.55 and a beta of 1.36. IDEXX Laboratories has a 12 month low of $404.74 and a 12 month high of $583.39. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same quarter in the previous year, the firm posted $2.53 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts forecast that IDEXX Laboratories will post 10.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IDXX. International Assets Investment Management LLC grew its position in IDEXX Laboratories by 52,746.0% during the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock worth $2,669,890,000 after acquiring an additional 527,460 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of IDEXX Laboratories by 696.0% during the second quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock worth $171,891,000 after purchasing an additional 308,493 shares during the last quarter. Vontobel Holding Ltd. increased its stake in shares of IDEXX Laboratories by 3,325.0% in the third quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company’s stock valued at $111,229,000 after buying an additional 213,731 shares during the period. American Century Companies Inc. raised its holdings in IDEXX Laboratories by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock valued at $274,179,000 after buying an additional 177,226 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its position in IDEXX Laboratories by 4,193.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company’s stock worth $62,601,000 after buying an additional 125,498 shares during the period. 87.84% of the stock is currently owned by 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.