The stock of IDEXX Laboratories, Inc. (NASDAQ:IDXX) hit a new 52-week high and has $131.25 target or 9.00% above today’s $120.41 share price. The 9 months bullish chart indicates low risk for the $10.72B company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $131.25 price target is reached, the company will be worth $964.80 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 242,340 shares traded hands. IDEXX Laboratories, Inc. (NASDAQ:IDXX) has risen 45.99% since April 26, 2016 and is uptrending. It has outperformed by 40.73% the S&P500.
Analysts await IDEXX Laboratories, Inc. (NASDAQ:IDXX) to report earnings on February, 3. They expect $0.51 earnings per share, up 6.25% or $0.03 from last year’s $0.48 per share. IDXX’s profit will be $45.40 million for 59.02 P/E if the $0.51 EPS becomes a reality. After $0.62 actual earnings per share reported by IDEXX Laboratories, Inc. for the previous quarter, Wall Street now forecasts -17.74% negative EPS growth.
IDEXX Laboratories, Inc. (NASDAQ:IDXX) Ratings Coverage
Out of 7 analysts covering IDEXX Laboratories (NASDAQ:IDXX), 3 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 43% are positive. IDEXX Laboratories has been the topic of 13 analyst reports since July 24, 2015 according to StockzIntelligence Inc. As per Thursday, February 4, the company rating was initiated by Credit Suisse. The stock has “Buy” rating given by Stifel Nicolaus on Thursday, October 29. The rating was maintained by Stifel Nicolaus on Thursday, August 13 with “Buy”. On Wednesday, April 13 the stock rating was maintained by Credit Suisse with “Outperform”. The rating was maintained by Stifel Nicolaus with “Buy” on Monday, March 21. The company was maintained on Thursday, July 23 by Canaccord Genuity. The firm has “Hold” rating given on Friday, July 24 by Feltl & Co. Bank of America reinitiated the stock with “Neutral” rating in Thursday, September 29 report. The firm earned “Market Perform” rating on Friday, August 28 by Raymond James. The stock of IDEXX Laboratories, Inc. (NASDAQ:IDXX) has “Neutral” rating given on Friday, April 1 by CL King.
According to Zacks Investment Research, “IDEXX Laboratories, Inc. is a world leader in providing diagnostic, detection, and information products to the animal health industry as well as quality assurance products and services to the food and water industries.”
Insitutional Activity: The institutional sentiment decreased to 1.14 in Q2 2016. Its down 0.20, from 1.34 in 2016Q1. The ratio turned negative, as 27 funds sold all IDEXX Laboratories, Inc. shares owned while 123 reduced positions. 79 funds bought stakes while 122 increased positions. They now own 77.90 million shares or 5.94% less from 82.81 million shares in 2016Q1.
Oregon Pub Employees Retirement Fund has 34,352 shares for 0.07% of their US portfolio. Agf Invs America, a Ontario – Canada-based fund reported 73,219 shares. Southeast Asset Advisors holds 0.42% or 13,670 shares in its portfolio. Amer Mgmt Inc holds 4.99% or 649,906 shares in its portfolio. Wesbanco Bankshares accumulated 2,220 shares or 0.01% of the stock. Etrade Capital Management Limited Liability Com last reported 0.02% of its portfolio in the stock. Ameriprise Financial Incorporated has invested 0.03% of its portfolio in IDEXX Laboratories, Inc. (NASDAQ:IDXX). Teachers Inc accumulated 74,380 shares or 0.01% of the stock. Credit Agricole S A, a France-based fund reported 18,854 shares. Granite Partners Limited Liability Corp, a California-based fund reported 4,000 shares. Barclays Pcl accumulated 0.02% or 134,066 shares. Moreover, Ironbridge Cap Mngmt Limited Partnership has 0.29% invested in IDEXX Laboratories, Inc. (NASDAQ:IDXX) for 71,372 shares. Barrett Asset Management Limited Liability Corp accumulated 0% or 250 shares. Moreover, Stephens Incorporated Ar has 0.05% invested in IDEXX Laboratories, Inc. (NASDAQ:IDXX) for 13,124 shares. Checchi Capital Advisers Ltd Liability Corp holds 0.01% or 696 shares in its portfolio.
Insider Transactions: Since August 4, 2016, the stock had 0 insider buys, and 8 insider sales for $20.49 million net activity. Shares for $4.31 million were sold by AYERS JONATHAN W on Wednesday, November 9. The insider CRAIG THOMAS sold 8,500 shares worth $1.02M. 5,000 IDEXX Laboratories, Inc. (NASDAQ:IDXX) shares with value of $542,521 were sold by END WILLIAM T. The insider Williams Michael J PhD sold 49,560 shares worth $5.40M. JOHNSON BARRY C sold $1.11 million worth of stock or 9,924 shares. Another trade for 9,924 shares valued at $1.10M was made by HENDERSON REBECCA M on Thursday, August 25.
More notable recent IDEXX Laboratories, Inc. (NASDAQ:IDXX) news were published by: Streetinsider.com which released: “Form 4 IDEXX LABORATORIES INC For: Nov 23 Filed by: CRAIG THOMAS” on November 29, 2016, also Prnewswire.com with their article: “IDEXX Laboratories Announces Departure of Executive Vice President Michael …” published on November 15, 2016, Fool.com published: “IDEXX Laboratories, Inc. Sees More Growth Ahead” on May 02, 2016. More interesting news about IDEXX Laboratories, Inc. (NASDAQ:IDXX) were released by: Fool.com and their article: “Why IDEXX Laboratories, Inc. Reported Higher Today” published on August 02, 2016 as well as Prnewswire.com‘s news article titled: “IDEXX Laboratories to Host 2016 Investor Day” with publication date: August 08, 2016.
IDXX Company Profile
IDEXX Laboratories, Inc., incorporated in 1983, develops, makes and distributes products and provides services primarily for the companion animal veterinary, livestock and poultry, water testing and dairy markets. The Firm operates through three divisions: diagnostic and information technology services and products for the veterinary market, which it refers to as the Companion Animal Group (CAG), water quality products (Water) and products for livestock and poultry health, which it refer to as Livestock and Poultry Diagnostics (LPD). It also operates two smaller divisions that consist of products for milk quality and safety (Dairy) and products for the human point-of-care medical diagnostics market (OPTI Medical). In November 2011, the Company acquired the research and diagnostic laboratory (RADIL) business of the College of Veterinary Medicine from the University of Missouri. In August 2013, IDEXX Laboratories, Inc. announced that it has acquired Madasa do Brasil Ltda.
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