Investment analysts at JPMorgan Chase & Co. initiated coverage on shares of IDEXX Laboratories (NASDAQ:IDXX) in a research note issued to investors on Friday, Fintech Zoom reports. The brokerage set an “overweight” rating and a $570.00 price target on the stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 18.19% from the stock’s current price.
Shares of NASDAQ IDXX opened at $482.27 on Friday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.24 and a current ratio of 1.65. IDEXX Laboratories has a 52-week low of $168.65 and a 52-week high of $516.86. The firm has a 50 day moving average price of $489.07 and a two-hundred day moving average price of $424.59. The stock has a market cap of $41.14 billion, a P/E ratio of 84.02, a price-to-earnings-growth ratio of 4.55 and a beta of 0.88.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.27. IDEXX Laboratories had a net margin of 19.20% and a return on equity of 198.91%. The firm had revenue of $721.79 million during the quarter, compared to analysts’ expectations of $672.48 million. During the same period in the prior year, the company posted $1.24 EPS. The company’s revenue was up 19.2% on a year-over-year basis. Analysts predict that IDEXX Laboratories will post 6.13 earnings per share for the current fiscal year.
In other news, CFO Brian P. Mckeon sold 36,216 shares of the company’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $471.44, for a total value of $17,073,671.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael Lane sold 1,304 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $443.00, for a total transaction of $577,672.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,437 shares of company stock valued at $42,699,069. Corporate insiders own 2.53% of the company’s stock.
Several large investors have recently bought and sold shares of IDXX. CIBC Private Wealth Group LLC boosted its stake in shares of IDEXX Laboratories by 1,891.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 328,161 shares of the company’s stock valued at $129,004,000 after purchasing an additional 311,681 shares during the last quarter. BlackRock Inc. boosted its stake in shares of IDEXX Laboratories by 3.4% in the 3rd quarter. BlackRock Inc. now owns 7,760,098 shares of the company’s stock valued at $3,050,572,000 after purchasing an additional 258,375 shares during the last quarter. Manning & Napier Group LLC boosted its stake in shares of IDEXX Laboratories by 4,000.7% in the 4th quarter. Manning & Napier Group LLC now owns 158,083 shares of the company’s stock valued at $79,019,000 after purchasing an additional 154,228 shares during the last quarter. Natixis boosted its stake in shares of IDEXX Laboratories by 281.8% in the 3rd quarter. Natixis now owns 171,897 shares of the company’s stock valued at $67,574,000 after purchasing an additional 126,880 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of IDEXX Laboratories by 99.7% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 231,443 shares of the company’s stock valued at $90,983,000 after purchasing an additional 115,535 shares during the last quarter. 85.06% of the stock is currently owned by institutional investors.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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