IDEXX Laboratories Target of Unusually Large Options Trading (NASDAQ:IDXX)

IDEXX Laboratories, Inc. (NASDAQ:IDXX) was the target of some unusual options trading on Friday. Investors bought 2,600 put options on the stock. This is an increase of approximately 581% compared to the average daily volume of 382 put options.

IDEXX Laboratories Price Performance

NASDAQ IDXX traded down $8.80 during trading hours on Friday, reaching $414.85. The company’s stock had a trading volume of 234,845 shares, compared to its average volume of 499,673. IDEXX Laboratories has a 1 year low of $404.74 and a 1 year high of $583.39. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $33.97 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 3.75 and a beta of 1.36. The firm’s 50-day moving average price is $469.35 and its 200-day moving average price is $483.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.11. The company had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. IDEXX Laboratories’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company posted $2.53 earnings per share. On average, equities research analysts predict that IDEXX Laboratories will post 10.43 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEXX Laboratories

Large investors have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC increased its position in shares of IDEXX Laboratories by 16.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock valued at $340,000 after purchasing an additional 96 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of IDEXX Laboratories in the 2nd quarter worth about $20,418,000. Oppenheimer Asset Management Inc. boosted its stake in shares of IDEXX Laboratories by 13.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock worth $5,825,000 after purchasing an additional 1,453 shares during the period. Vanguard Group Inc. grew its holdings in IDEXX Laboratories by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after purchasing an additional 98,387 shares during the last quarter. Finally, National Pension Service lifted its stake in IDEXX Laboratories by 7.3% in the third quarter. National Pension Service now owns 185,972 shares of the company’s stock worth $93,957,000 after purchasing an additional 12,647 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on IDXX shares. Stifel Nicolaus reduced their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Barclays lowered their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. reduced their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Piper Sandler restated a “neutral” rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Finally, BTIG Research began coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price on the stock. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.