BidaskClub Downgrades IDEXX Laboratories (IDXX) to Sell

IDEXX Laboratories (NASDAQ:IDXX) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday, December 16th.

A number of other research analysts have also recently issued reports on the company. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Tuesday, October 24th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $185.00 price target on shares of IDEXX Laboratories in a report on Tuesday, October 24th. Canaccord Genuity reaffirmed a “buy” rating and issued a $180.00 price target on shares of IDEXX Laboratories in a report on Friday, October 6th. Aegis reissued a “sell” rating on shares of IDEXX Laboratories in a report on Friday, December 8th. Finally, Bank of America raised IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 price objective for the company in a report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $173.67.

IDEXX Laboratories (NASDAQ IDXX) traded up $5.37 during trading on Friday, hitting $171.51. The company had a trading volume of 512,720 shares, compared to its average volume of 473,428. The company has a debt-to-equity ratio of -12.48, a current ratio of 0.95 and a quick ratio of 0.77. IDEXX Laboratories has a fifty-two week low of $116.54 and a fifty-two week high of $173.01. The company has a market capitalization of $14,960.00, a PE ratio of 55.69, a price-to-earnings-growth ratio of 2.29 and a beta of 0.42.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Tuesday, October 31st. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.05. IDEXX Laboratories had a negative return on equity of 336.64% and a net margin of 14.55%. The business had revenue of $492.00 million during the quarter, compared to analysts’ expectations of $492.94 million. During the same period in the previous year, the business posted $0.62 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. equities analysts predict that IDEXX Laboratories will post 3.24 EPS for the current fiscal year.

In other news, insider Giovani Twigge sold 2,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $156.07, for a total value of $312,140.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan W. Ayers sold 18,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $153.75, for a total value of $2,767,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,064,573 shares of the company’s stock, valued at $163,678,098.75. The disclosure for this sale can be found here. Insiders have sold a total of 130,160 shares of company stock valued at $20,019,685 over the last three months. Company insiders own 2.77% of the company’s stock.

Several hedge funds have recently made changes to their positions in IDXX. Koch Industries Inc. increased its stake in shares of IDEXX Laboratories by 44,533.1% in the 2nd quarter. Koch Industries Inc. now owns 1,399,248 shares of the company’s stock valued at $1,391,000 after acquiring an additional 1,396,113 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of IDEXX Laboratories by 486.4% in the 2nd quarter. Janus Henderson Group PLC now owns 1,131,902 shares of the company’s stock valued at $182,711,000 after purchasing an additional 938,888 shares during the period. BlackRock Inc. grew its position in shares of IDEXX Laboratories by 10.5% in the 2nd quarter. BlackRock Inc. now owns 7,100,374 shares of the company’s stock valued at $1,146,142,000 after purchasing an additional 673,347 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new position in shares of IDEXX Laboratories in the 2nd quarter valued at approximately $83,723,000. Finally, Atlantic Trust Group LLC acquired a new position in shares of IDEXX Laboratories in the 3rd quarter valued at approximately $65,381,000. 86.61% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for IDEXX Laboratories (NASDAQ:IDXX)

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