Price Action to Note: Could IDEXX Laboratories, Inc. Lose its Strength? The Stock Reaches All Time High

Price Action to Note: Could IDEXX Laboratories, Inc. Lose its Strength? The Stock Reaches All Time High

The stock of IDEXX Laboratories, Inc. (NASDAQ:IDXX) reached all time high today, Nov, 29 and still has $125.87 target or 5.00% above today’s $119.88 share price. This indicates more upside for the $10.68 billion company. This technical setup was reported by Barchart.com. If the $125.87 PT is reached, the company will be worth $534.00M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 66,273 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 $45.44M for 58.76 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. $98 is the highest target while $69.50 is the lowest. The $82.90 average target is -30.85% below today’s ($119.88) stock price. IDEXX Laboratories has been the topic of 13 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock of IDEXX Laboratories, Inc. (NASDAQ:IDXX) has “Neutral” rating given on Thursday, September 29 by Bank of America. The rating was maintained by Stifel Nicolaus with “Buy” on Thursday, October 29. The firm has “Buy” rating by Stifel Nicolaus given on Monday, March 21. The stock has “Market Perform” rating given by Raymond James on Friday, August 28. The company was maintained on Thursday, August 13 by Stifel Nicolaus. The company was initiated on Friday, April 1 by CL King. Canaccord Genuity maintained it with “Buy” rating and $75 target price in Thursday, July 23 report. The rating was initiated by Credit Suisse with “Outperform” on Thursday, February 4. On Friday, July 24 the stock rating was upgraded by Feltl & Co to “Hold”. The stock has “Outperform” rating given by Credit Suisse on Wednesday, April 13.

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 dropped, 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.
Thompson Siegel And Walmsley Limited Liability Co holds 0% of its portfolio in IDEXX Laboratories, Inc. (NASDAQ:IDXX) for 399 shares. Huntington Bank & Trust holds 0% or 561 shares in its portfolio. Cornerstone Advsrs last reported 353 shares in the company. Liberty Mutual Asset Mngmt Incorporated holds 38,912 shares or 0.13% of its portfolio. Tocqueville Asset Mgmt Limited Partnership has 0.01% invested in the company for 6,025 shares. Proshare Advisors Limited Liability Corporation holds 10,379 shares or 0.01% of its portfolio. Smithfield Trust Com, a Pennsylvania-based fund reported 300 shares. Ibm Retirement Fund last reported 0.03% of its portfolio in the stock. Manufacturers Life Ins The last reported 121,697 shares in the company. Firstmerit Comml Bank N A Trustee has 0.02% invested in the company for 2,537 shares. Mutual Of America Mgmt Llc holds 0.13% of its portfolio in IDEXX Laboratories, Inc. (NASDAQ:IDXX) for 67,082 shares. Suntrust Banks Inc accumulated 19,853 shares or 0.01% of the stock. Fcg Advisors Ltd Liability Company holds 2,935 shares or 0.09% of its portfolio. Parametric Port Associate Ltd Limited Liability Company last reported 0.04% of its portfolio in the stock. Commonwealth Equity Svcs holds 19,042 shares or 0.01% of its portfolio.

Insider Transactions: Since August 4, 2016, the stock had 0 buys, and 8 sales for $20.49 million net activity. The insider JOHNSON BARRY C sold $1.11M. Shares for $542,521 were sold by END WILLIAM T on Friday, August 5. 60,000 shares were sold by AYERS JONATHAN W, worth $6.46 million. CRAIG THOMAS sold $1.02M worth of stock. Williams Michael J PhD also sold $5.40M worth of IDEXX Laboratories, Inc. (NASDAQ:IDXX) on Monday, August 8. HENDERSON REBECCA M sold 9,924 shares worth $1.10 million.

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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