According to Bloomberg, the ten rating agencies covering IDEXX Laboratories, Inc. (NASDAQ: IDXX) have suggested “Moderate Buy” as the best action for investors to adopt about the firm. This recommendation results from the rating agencies’ coming to the same conclusion. Five prominent figures in the world of finance have advocated for the acquisition of the company’s stock. In contrast, three others have suggested that investors maintain their current stock holdings.
Most brokerage companies that have changed their coverage in the last year have set their price estimate for the following year’s worth of trading at $483.57 on average. IDXX has a lot of scholarly articles that can be looked at whenever it’s needed. On August 5, Barclays published a study on IDEXX Laboratories with an “overweight” rating and a target price reduction from $700.00 to $582.00. Barclays also assigned IDEXX Laboratories an “overweight” rating. IDEXX Laboratories was assigned this rating, and Barclays lowered its price objective for the company.
In a research note published on August 8, Piper Sandler stated their intention to reduce its target price for IDEXX Laboratories from $500.00 to $420.00. In a research report on Thursday, July 21, Goldman Sachs Group lowered its price objective on IDEXX Laboratories from $530.00 to $435.00 and upgraded the company from “neutral” to “buy” in a research report. The study was about IDEXX Laboratories and was published on Thursday. Finally, in research on Thursday, August 4, Morgan Stanley lowered their price objective for IDEXX Laboratories. The new price objective is $573.00, down from $603.00 before.
Additionally, the brokerage firm gave the company an “overweight” rating. The shares of IDEXX Laboratories have gone from having a “buy” rating held by Stifel Nicolaus to having a “hold” rating, and the price objective has been increased to $415.00 from the previous level of $400.00. a report was distributed to the general public on August 3 of this year. In recent months, several hedge funds have modified their approaches to investing in IDXX to take advantage of new opportunities.
During the first three months of the year, Sumitomo Mitsui DS Asset Management Company Ltd. boosted the number of IDEXX Laboratories shares that it owned by 12.6%, bringing its total ownership percentage to a total of 58.4%. As a result, Sumitomo Mitsui DS Asset Management Company Ltd now has 22,857 shares, which are presently valued at $12,504,000 after purchasing an additional 2,560 shares during the quarter.
These 22,857 shares have a total market value of $12,504,000. The Kentucky Retirement Systems Insurance Trust Fund bought 11.8% more IDEXX Laboratories shares during the first three months of 2018, bringing the total amount of the company’s stock to 98.4%. The Kentucky Retirement Systems Insurance Trust Fund now holds 2,503 shares of the company’s stock, valued at a combined total of $1,369,000 after purchasing an additional 265 shares during the quarter. These 2,503 shares have a combined total value of $1,369,000. In addition, Tobam raised its ownership position in IDEXX Laboratories by 65.2% during its first three months.
Tobam holds a total of 370 shares of the business’s stock, which are currently valued at a sum of $202,000. It is because he purchased an extra 146 shares throughout the quarter, bringing his total number of shares owned by the company to 370. The percentage of IDEXX Laboratories stock that Cambridge Trust Company owned climbed by 144.2% over the first three months due to the company’s continued investment.
As a result of the Cambridge Trust Corporation’s purchase of an extra 913 shares throughout the time in question, the Cambridge Trust Corporation is now the owner of 1,546 shares in the company, which has a value of $846,000. Not to mention, over the final three months of 2018, BlackRock Inc. boosted the amount of IDEXX Laboratories stock that is owned by 3.4%. After making further purchases of 296,552 shares throughout the period in question, BlackRock Inc. currently has a total shareholding in the company that amounts to 5,919,940,000.
Institutional investors and hedge funds jointly own 84.92% of the total number of shares in the company, making them the company’s largest shareholders. IDXX was first available for trade on Friday for $349.90. The debt-to-equity ratio is 1.68, the current balance is 0.89, and the quick ratio is 0.61. All three ratios are presented in their respective numbers. Because of factors such as its market valuation of $29.13 billion, its price-to-earnings ratio of 45.15, its price-to-earnings-growth ratio of 4.81, and its beta value of 1.14, the firm has adequate financial resources. The veterinary industry for companion animals, the drive for cattle and poultry, the initiative for testing dairy products, and the ambition for testing water are the primary markets IDEXX Laboratories, Inc. serves with its goods and services.
The overall number of company divisions that make up the corporation includes those that deal with CAG, Water Quality Products, LPD, and other businesses. In addition to providing point-of-care veterinary diagnostic items like instruments, consumables, and rapid assay test kits, the company also offers diagnostic and consulting services to veterinary reference laboratories. In addition to this, it provides diagnostic services to veterinary reference labs. In addition, it provides the biomedical research community with tools and services for monitoring health, testing biological materials, and diagnosing laboratory animals. The company also sells veterinary practice management systems and services, as well as diagnostic imaging systems and services.
