Can IDEXX Laboratories Inc. (IDXX) Add Value To Your Portfolio?

As of Wednesday close, IDEXX Laboratories Inc.’s (NASDAQ:IDXX) stock was up $2.47, moving up 0.40 percent to $622.45. The average number of shares traded per day over the past five days has been 352,300 shares. 3 times new highs have been achieved over the past 5 days, with a -$5.54 fall in that time frame. In the last twenty days, the average volume was 366,145, while in the previous 50 days, it was 376,074.

Since last month, IDXX stock retreated -4.53%. Shares of the company fell to $597.84 on 11/03/21, the lowest level in the past month. A 52-week high of $706.95 was reached on 07/29/21 after having rallying from a 52-week low of $443.14. Since the beginning of this year, IDXX’s stock price has risen by 24.52% or $122.58, and marked a new high 32 times. However, the stock has declined by -11.95% since its 52-week high.

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Insider Transactions

IDEXX Laboratories Inc. (IDXX) last reported insider trading activity 13 days ago on Nov 12. MCKEON BRIAN P, the Executive VP & CFO of the company, disposed of 9,225 shares for $620.73 on Nov 12. It resulted in a $5,726,188 divestment by the insider. MCKEON BRIAN P sold 20,000 shares at an average price of $624.96 on Nov 10. The insider now owns 26,317 shares following the transaction. On Nov 09, Executive VP & CFO MCKEON BRIAN P sold 6,310 shares at $630.22 apiece. The transaction was valued at $3,976,676.

Valuation Metrics

Right now, IDEXX Laboratories Inc. (IDXX) has a P/E ratio of about 71.36. This is higher than the industry average, which comes in at 35.95 right now. Further, its PE also compares unfavorably with the overall sector’s trailing 12 months PE ratio, which currently stands at 29.53. Within the last five years, IDEXX Laboratories Inc.’s PE ratio varied between 86.96 and 37.49. The stock’s beta is 0.92. Besides these, the trailing price-to-sales (P/S) ratio of 16.49, the price-to-book (PB) ratio of 70.17, and the price-to-cash flow ratio of 78.04 may also be considered.

In the three months ended September 29, IDEXX Laboratories Inc.’s quick ratio stood at 1.10, while its current ratio was 1.50, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 1.03, and the total debt-to-equity ratio was 1.13. On the profitability front, the trailing twelve-month gross margin is 58.80% percent. In the year ended September 29, EBITDA margin amounted to 29.27%, whereas operating margins totaled 29.30%. Based on annual data, IDXX earned $1.57 billion in gross profit and brought in $2.71 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 39.90%. Return on equity (ROE) for the past 12 months was 106.70%. In the past year, the industry average ROE stood at -2.89.

Earnings Surprise

In IDEXX Laboratories Inc.’s quarter-end financial report for September 29, it reported total debt of $778.03 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. IDXX’s revenue rose 10.94% to $826.14 million during the quarter, while net income inched up to $810.42 million. While analysts expected IDEXX Laboratories Inc. to report $1.91 quarterly earnings, the actual figure was $2.03 per share, beating the consensus estimate by 6.30%. During the quarter, the company generated $252.43 million in EBITDA. The liabilities of IDEXX Laboratories Inc. were 1.63 billion at the end of its most recent quarter ended September 29, and its total debt was $963.19 million. The value of shareholders’ equity is $84.79 million.

Technical Picture

This quick technical analysis looks at IDEXX Laboratories Inc.’s (IDXX) price momentum. With a historical volatility rate of 28.97%, the RSI 9-day stood at 43.75% on 24 November.

With respect to its five-day moving average, the current IDEXX Laboratories Inc. price is down by -0.88% percent or -$5.54. At present, IDXX shares trade -2.82% below its 20-day simple moving average and -5.54% percent below its 100-day simple moving average. However, the stock is currently trading approximately -5.92% below its SMA50 and +20.50% above its SMA200.

Stochastic coefficient K was 34.41% and Stochastic coefficient D was 52.10%, while ATR was 16.65. Given the Stochastic reading of 22.96% for the 14-day period, the RSI (14) reading has been calculated as 44.84%. As of today, the MACD Oscillator reading stands at -3.93, while the 14-day reading stands at -3.23.

Analyst Ratings

Morgan Stanley launched its rating on IDEXX Laboratories Inc. (NASDAQ: IDXX) to an Overweight in a note to investors on November 18, 2021. IDEXX Laboratories Inc. (IDXX) has been rated Overweight by analysts. According to 1 brokerage firm, IDXX is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate IDEXX Laboratories Inc. stock as buy, with 6 recommending it as overweight.

What is IDXX’s price target for the next 12 months?

With a median target price of $712.50, the current consensus forecast for the stock is $630.00 – $750.00. Based on these forecasts, analysts predict IDEXX Laboratories Inc. (IDXX) will achieve an average price target of $706.17.


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