IDEXX Laboratories, Inc. (NASDAQ:IDXX) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Monday, July 31st.
A number of other research analysts have also weighed in on IDXX. Zacks Investment Research lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. Canaccord Genuity reaffirmed a “buy” rating and issued a $180.00 price objective (up previously from $165.00) on shares of IDEXX Laboratories in a research report on Friday, April 28th. Stifel Nicolaus lifted their price objective on shares of IDEXX Laboratories from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Finally, Aegis started coverage on shares of IDEXX Laboratories in a research report on Wednesday, May 31st. They issued a “sell” rating and a $118.00 price objective on the stock. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $173.80.
Shares of IDEXX Laboratories (NASDAQ:IDXX) traded down 0.47% during midday trading on Monday, reaching $151.19. 352,448 shares of the company’s stock traded hands. The stock has a market cap of $13.20 billion, a P/E ratio of 52.01 and a beta of 0.49. IDEXX Laboratories has a 12 month low of $102.45 and a 12 month high of $173.01. The stock has a 50 day moving average of $160.43 and a 200-day moving average of $156.59.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.10. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 473.46%. The company had revenue of $508.90 million for the quarter, compared to analyst estimates of $502.44 million. During the same period last year, the firm earned $0.74 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. On average, equities research analysts forecast that IDEXX Laboratories will post $3.18 EPS for the current fiscal year.
IDEXX Laboratories declared that its board has authorized a stock repurchase program on Wednesday, May 3rd that allows the company to repurchase 3,000,000 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
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In other news, Director Lawrence D. Kingsley acquired 2,000 shares of IDEXX Laboratories stock in a transaction that occurred on Thursday, August 3rd. The stock was bought at an average price of $151.76 per share, with a total value of $303,520.00. Following the completion of the purchase, the director now owns 3,344 shares in the company, valued at $507,485.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jonathan W. Ayers sold 13,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $167.82, for a total transaction of $2,181,660.00. Following the transaction, the chairman now directly owns 1,032,994 shares of the company’s stock, valued at approximately $173,357,053.08. The disclosure for this sale can be found here. Insiders sold 151,572 shares of company stock valued at $23,715,597 in the last quarter. Corporate insiders own 2.77% of the company’s stock.
A number of institutional investors have recently modified their holdings of IDXX. WMS Partners LLC boosted its position in shares of IDEXX Laboratories by 0.3% in the second quarter. WMS Partners LLC now owns 1,583 shares of the company’s stock valued at $256,000 after buying an additional 4 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in shares of IDEXX Laboratories by 2.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the company’s stock valued at $119,000 after buying an additional 17 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of IDEXX Laboratories by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,547 shares of the company’s stock valued at $1,057,000 after buying an additional 19 shares in the last quarter. Lourd Capital LLC boosted its position in shares of IDEXX Laboratories by 1.1% in the first quarter. Lourd Capital LLC now owns 3,277 shares of the company’s stock valued at $507,000 after buying an additional 36 shares in the last quarter. Finally, CAPROCK Group Inc. boosted its position in shares of IDEXX Laboratories by 2.2% in the second quarter. CAPROCK Group Inc. now owns 1,830 shares of the company’s stock valued at $295,000 after buying an additional 40 shares in the last quarter. 89.42% of the stock is owned by institutional investors.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.
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