IDEXX Laboratories (NASDAQ:IDXX) Stock Price Expected to Rise, Bank of America Analyst Says

IDEXX Laboratories (NASDAQ:IDXX) had its target price hoisted by analysts at Bank of America from $475.00 to $535.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price target would indicate a potential upside of 14.18% from the stock’s current price.

Several other brokerages have also issued reports on IDXX. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Barclays cut their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. dropped their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Morgan Stanley decreased their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $524.38.

IDEXX Laboratories Trading Up 0.8 %

IDXX opened at $468.55 on Tuesday. IDEXX Laboratories has a twelve month low of $398.50 and a twelve month high of $583.39. The firm has a market cap of $38.37 billion, a PE ratio of 45.18, a price-to-earnings-growth ratio of 3.64 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The firm’s fifty day moving average is $425.88 and its two-hundred day moving average is $453.51.

Insider Buying and Selling

In other news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the transaction, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On IDEXX Laboratories

Several institutional investors have recently made changes to their positions in IDXX. Algert Global LLC grew its holdings in shares of IDEXX Laboratories by 70.0% during the 2nd quarter. Algert Global LLC now owns 709 shares of the company’s stock worth $345,000 after purchasing an additional 292 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in IDEXX Laboratories during the second quarter worth about $1,363,000. Czech National Bank increased its holdings in IDEXX Laboratories by 6.5% in the 3rd quarter. Czech National Bank now owns 16,766 shares of the company’s stock valued at $8,471,000 after buying an additional 1,028 shares during the period. GAMMA Investing LLC raised its position in shares of IDEXX Laboratories by 26.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,484 shares of the company’s stock valued at $750,000 after buying an additional 314 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in shares of IDEXX Laboratories by 3.9% during the 3rd quarter. Mather Group LLC. now owns 617 shares of the company’s stock worth $312,000 after acquiring an additional 23 shares during the period. 87.84% of the stock is currently owned by institutional investors.

About IDEXX Laboratories

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.