Canaccord Genuity Believes Idexx Laboratories (IDXX) Still Has Room to Grow


Canaccord Genuity analyst Mark Massaro maintained a Buy rating on Idexx Laboratories (IDXX) today and set a price target of $280. The company’s shares opened today at $278.25, close to its 52-week high of $279.96.

According to TipRanks.com, Massaro is a top 100 analyst with an average return of 21.3% and a 65.0% success rate. Massaro covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, Meridian Bioscience Inc, and Quanterix Corporation.

Idexx Laboratories has an analyst consensus of Strong Buy, with a price target consensus of $277.75, which is a -0.2% downside from current levels. In a report issued on June 21, Merrill Lynch also reiterated a Buy rating on the stock with a $300 price target.

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Based on Idexx Laboratories’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $103 million. In comparison, last year the company had a net profit of $109 million.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2019, Rebecca Henderson, a Director at IDXX sold 8,790 shares for a total of $2,123,400.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

IDEXX Laboratories, Inc. engages in the development, manufacture, and distribution of products and services for the animal veterinary, livestock and poultry, dairy and water testing markets. It operates through the following segments: Companion Animal Group; Water; Livestock, Poultry, and Dairy; and Other.

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