Barclays Cuts IDEXX Laboratories (NASDAQ:IDXX) Price Target to $481.00

IDEXX Laboratories (NASDAQ:IDXX) had its price target trimmed by Barclays from $570.00 to $481.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

IDXX has been the subject of a number of other reports. Stifel Nicolaus decreased their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Piper Sandler reduced their price objective on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. BTIG Research assumed coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 target price on the stock. Finally, StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $552.38.

IDEXX Laboratories Trading Up 1.8 %

NASDAQ:IDXX opened at $423.42 on Monday. IDEXX Laboratories has a 12-month low of $404.74 and a 12-month high of $583.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The business has a 50 day simple moving average of $474.87 and a 200 day simple moving average of $485.88. The firm has a market capitalization of $34.67 billion, a P/E ratio of 40.83, a P/E/G ratio of 3.61 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The business had revenue of $975.50 million for the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.53 EPS. Equities research analysts predict that IDEXX Laboratories will post 10.45 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Atomi Financial Group Inc. raised its position in shares of IDEXX Laboratories by 3.4% during the first quarter. Atomi Financial Group Inc. now owns 637 shares of the company’s stock worth $344,000 after purchasing an additional 21 shares during the period. Eads & Heald Wealth Management lifted its stake in IDEXX Laboratories by 0.8% during the second quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock valued at $1,309,000 after buying an additional 22 shares in the last quarter. LRI Investments LLC increased its position in shares of IDEXX Laboratories by 21.7% in the second quarter. LRI Investments LLC now owns 129 shares of the company’s stock worth $63,000 after acquiring an additional 23 shares in the last quarter. Sovereign Financial Group Inc. raised its holdings in shares of IDEXX Laboratories by 5.1% during the third quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock valued at $237,000 after acquiring an additional 23 shares during the period. Finally, Mather Group LLC. lifted its position in shares of IDEXX Laboratories by 3.9% in the 3rd quarter. Mather Group LLC. now owns 617 shares of the company’s stock valued at $312,000 after acquiring an additional 23 shares in the last quarter. Institutional investors and hedge funds 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.